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US, UK top study destinations for China’s super rich

The US is the most popular tertiary level study abroad destination for China’s high net worths, the 11th annual Chinese Luxury Consumer Survey reveals, though the UK remains the favoured choice for high-school aged study.

Sinclair Lyu, Hurun Report President & Group Publisher and model Xiang “Cici” Yejing presented the Best of the Best awards at a dinner in Shanghai.

80% of wealthy families in China now intend to send their children overseas

The top five destinations for undergraduate and postgraduate study were the US, the UK, Australia, Canada and New Zealand, the survey by luxury publishing and events group Hurun Report shows.

“New Zealand breaking into the ‘Big 5’ shows how far it has come to building a global education programme”

This is the first year New Zealand has entered the top five, overtaking Switzerland.

“New Zealand breaking into the ‘Big 5’ shows how far it has come to building a global education programme, attracting many of China’s most successful families to send their children to study there,” commented Rupert Hoogewerf, the Hurun Report’s founder, chairman and chief researcher.

“New Zealand’s all-round education system is able to compete at the very highest levels in the world.”

Survey respondents also nominated their favourite study abroad education agencies, with BE Education voted the best high-end overseas study brand.

Shinyway was voted China’s best education agency for consumers heading to the US, while Haiyi was dubbed the best education agency for Switzerland.

Hoogewerf noted that 80% of wealthy families in China now intend to send their children overseas. The average age for millionaires to send their children abroad for study is 16, while the average for billionaires is 18.

Now in its 11th year, the report is based on a survey of 376 Mainland Chinese ‘millionaires’, each worth RMB10m (US$1.6m) and with an average wealth of $6.8 million.

Of the survey respondents, 27 were ‘super rich’ individuals with a personal wealth of RMB 100 million ($16m).

The Hurun Report is the largest survey of China’s rich consumers and also includes data on preferred luxury brands, banking and investment opportunities.

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