China faces world’s biggest millionaire exodus as economy slows

China will see the biggest net outflow of millionaires globally this year as the nation’s wealth growth slows, Henley & Partners said in a report Tuesday.

The advisory firm estimates China will lose 13,500 high-net-worth individuals with an investable wealth of more than US$1 million ($1.34 million), followed by India with an exodus of 6,500, and the UK at 3,200, according to the Henley Private Wealth Migration Report.