Foreign firms pull back as China FDI turns negative for first time in over 20 years
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China's foreign direct investment (FDI) has turned negative for the first time since 1998, suggesting foreign firms are taking money out instead of reinvesting.
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China's main FDI measure shows an 8.4% decline in the first 9 months of 2022, accelerating from a 5.1% drop.
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Vanguard is the latest company leaving China, closing its Shanghai office after selling its joint venture stake.
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The EU Chamber criticized China's import expo as "smoke and mirrors" with little tangible results to restore confidence.
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Global investors remain wary of China's scrutiny of Western firms and economic slowdown despite government efforts to boost growth.