Recently, there’s a rumor that the representative figure of China’s national bourgeoisie, the Wuxi Rong family, has also immigrated from Shanghai to Canada!
Although there’s no official news, friends with inside information are certain, and they’ve released photos of furniture being moved, so it seems to be true, as after all, North American furniture is not very particular.
The end of 2024 is destined to be a great change unseen in a century, and everyone has to make a choice!
The Rong family’s industry is in the middle school history textbooks. In the year of the choice, 1949, all of the domestic “top ten capitalists” withdrew, and the Rong family was no exception. However, Rong Desheng (father of Rong Yiren, founder of the Rong enterprise), was said to have been detained due to a lawsuit, becoming an important symbol of the domestic national bourgeoisie.
Although he took the lead in responding positively during the public-private partnership, he was in tears when other shareholders asked if he was willing.
Premier Zhou did not criticize this, but only said that this was human nature.
In a special era, Rong Yiren’s right index finger was broken by an iron pillar; due to delayed treatment, his left eye became blind.
In 1993, China, which had just experienced another major change, needed the Rong family to come out and demonstrate the image of reform and opening up, so Rong Yiren served as vice chairman and was publicly called a “red capitalist” by domestic media, making a huge contribution to restarting the reform and opening up.
Now 30 years have passed, and the Rong family’s move to immigrate again cannot help but make people think again and again.
If things go wrong, this is a landmark event, and its shock is no less than Li Ka-shing’s escape.
The World Bank has statistics on global migration data, and China is a country that ranks very high. Although immigration requires years of planning, the distribution of years can also show the evolution of the situation:
This data should be cross-border immigration and does not include going to Hong Kong. Because the illegal immigrants who went to Hong Kong during the four major escape tides alone exceeded 560,000.
From the above, we can see:
- 1964 was a big year for immigration, which was the prelude to the special ten years, the beginning of the Four Cleanups Movement;
- 1967 was the only year of immigration, and some friends said that this was when many countries were repatriating revolutionary youth.
- Other years, including around 1994 when the marketization wave began, and after 2001 when China joined the WTO;
- And from 2019 when Chinese people became particularly rich until now.
If immigration was a choice for the rich before, now it has already spread to the middle class. Many friends have reached the point of family disintegration because of the different judgments of the future situation by the couple.
The flow of people and money is consistent. Under the premise of a large trade surplus in exports, China’s foreign exchange reserves have declined for three consecutive months, and last month alone fell by nearly 60 billion US dollars compared to November!
This can only mean that either foreign trade income is not settled and remains abroad, or funds are being transferred. Of course, the decline in foreign investment is also a record 《外资大降30.4%，怎么这么惨？》
So that we recently had to urgently buy back the renminbi in the international market, and even decided to suspend the purchase of treasury bonds today to protect the exchange rate.
If this continues, I’m afraid that both the exchange rate and interest rates will be difficult to maintain. In fact, the exchange rate of 7.35 has already established a new psychological base.
Last year, I wrote a family biography for an old Rong family from Wuxi who had retired to the second line, and he complained that his successor son was exchanging US dollars, and he didn’t know what the future would be like.
I said that allocating assets globally is what entrepreneurs should do. Hearing me say this, the father and son reached an agreement on this matter.
More people leaving and fewer people coming also affects foreign exchange income. There is a report that “China’s largest overseas tourist bidding plan failed”. We have unilaterally opened visas for so many countries, but the number of foreign tourists entering the country in 2024 is still 63% of the same period in 2019, and the income has dropped from 132 billion US dollars in 2019 to 98 billion US dollars in 2024, a decrease of 26%.
Facing the great changes unseen in a century, everyone has walked the historical wharf. To stay or to go, which ship to board.
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