KONTAN.CO.ID - BEIJING. Foreign direct investment into China shrank for the first time in over a decade in 2023, data released by the commerce ministry showed, underscoring the challenge Beijing faces if it is to win back foreign firms as Western governments talk up "de-risking". Overseas companies last year invested 1.13 trillion yuan ($157.1 billion) in the world's second-largest economy, according to a statement on Friday, which represents a drop of 8.0% year-on-year and marks the first decline since 2012. Foreign firms have been sour on the Asian giant ever since Beijing abandoned its strict zero-COVID curbs in late December 2022, with concerns over China's business environment, economic recovery, and politics weighing heavy on the minds of foreign investors.
Annual Foreign Investment Flows Into China Shrinks First Time Since 2012
KONTAN.CO.ID - BEIJING. Foreign direct investment into China shrank for the first time in over a decade in 2023, data released by the commerce ministry showed, underscoring the challenge Beijing faces if it is to win back foreign firms as Western governments talk up "de-risking". Overseas companies last year invested 1.13 trillion yuan ($157.1 billion) in the world's second-largest economy, according to a statement on Friday, which represents a drop of 8.0% year-on-year and marks the first decline since 2012. Foreign firms have been sour on the Asian giant ever since Beijing abandoned its strict zero-COVID curbs in late December 2022, with concerns over China's business environment, economic recovery, and politics weighing heavy on the minds of foreign investors.