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China's richest have $30 trillion to spend, and more investing in Australia

China's richest have $30 trillion to spend, and more investing in Australia

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Australia is the third most popular destination for ultra-rich Chinese to invest wealth offshore and it's closing the gap on other countries, a new report shows.

As interest in the top two investment destinations, Hong Kong and the United States falls by 18 per cent and 3 per cent respectively, there has been a 7 per cent jump in Chinese private wealth flowing to Australia.