Anbang Insurance, the company that has helped Chinese purchases of foreign companies to surge to record levels, has a “Million Euros Plan” to send Chinese abroad to start up even more.
“We have 300m migrants from rural areas, half a billion people left on farms,” the company’s chairman Wu Xiaohui said on Sunday as he detailed his plan to offer seed funding to entrepreneurs. “What about if we moved some of them to Canada rather than Beijing?”
“So long as you’re Chinese and meet three conditions — no drugs, no gambling, no bad record — in principle we’ve got funds to lend,” he added in comments to delegates of China’s Davos-style Boao Forum for Asia in Hainan.
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