alt Hacker NewsChina cracks down on corruption from time to time and lots of rich Chinese got their riches through corruption, so they're always looking for places to stash their ill gotten gains, their family and an offramp for themselves.
Helping launder this dirty Chinese money is a huge business here in BC (Canada) and across the world.
Too late to edit but to add to my comment, it's also the reason this segment of Chinese buyer will massively overpay for real estate, visa pathways, etc...
Western governments also look the other way since these people are defrauding China (our rival) and bringing money to the west.