Chinese millionaires invest £135bn in Britain

The number of Chinese millionaires streaming into Britain has surged to 650 in the past year, bringing a £135bn boost to investment. London has been confirmed as the investment destination of choice for Asia’s wealthiest, according to law firm Boodle Hatfield, which found that the number of affluent Chinese people moving to the UK has more than doubled in five years. It said that Chinese high-net-worth individuals were favouring Britain for its private schools, investment opportunities and the “relative stability and liquidity of the residential property market”. The biggest proportion of individuals with assets valued in excess of £10m who relocated to Britain in the past year came from China, with 650 moving here in 2019-20, outstripping Hong Kong, Spain and the US. The Times (£)