Data released by the World Bank shows that in 2012, global remittances from overseas immigrants to their home countries reached 534 billion USD, with the amount remitted by Chinese immigrants to their hometowns reaching 66 billion USD, second only to India (70 billion USD), and far higher than countries ranking lower such as Mexico and the Philippines (24 billion USD) and Nigeria (21 billion USD). World Bank officials pointed out that the aforementioned amounts are only based on data provided by banks or money transfer companies, and the actual scale of immigrant capital flows may be even larger.
As more and more Chinese people obtain higher education degrees overseas, they find it easier to secure high-paying jobs; the growth in immigrant wages may be one of the reasons for the continuous increase in remittances. In the past, most Chinese people going overseas were engaged in relatively low-end jobs, and Chinatowns were usually the primary employment market for overseas Chinese. However, with the improvement of the educational level of Chinese immigrants, more and more Chinese immigrants are better able to adapt to foreign environments, and the employment fields of overseas Chinese have gradually shifted from blue-collar to white-collar, with more Chinese people having the ability to take on more responsibilities for their families.
Source: People's Daily Overseas Edition
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