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China’s foreign direct investment slumped to its lowest level since 1993 last year, in the face of slower economic growth and higher interest rates abroad.
The country’s direct investment liabilities, which comprise investments in its capital markets and foreign business earnings held within China, increased by $33B in 2023.
Foreign companies invested $22B in China on a net basis in 2023, a staggering 82% decrease from 2022, as per data released on by the State Administration of Foreign Exchange.
This is the second consecutive year of decline, and illustrates the impact of last year’s COVID lockdowns and China’s sluggish economic recovery.
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