Foreign Investment in China Plunges to Lowest Level Since 1993 Amid Covid Lockdowns and Geopolitical Tensions

Foreign direct investment into China rose by $33 billion in 2022, an 82% drop from 2021 and the lowest level since 1993
Investment fell in Q3 2022 for the first time since 1998; Q4 recovery still a third lower than Q4 2021
Decline reflects effects of Covid lockdowns, weak recovery, and companies pulling money out due to geopolitical tensions and higher interest rates elsewhere
Efforts to get overseas companies to return after Covid falling short so far
One bright spot is record €12 billion in direct investment into China from German companies in 2022