A security surveillance camera overlooks a street in Beijing. Chinese authorities' effort to root out spies has fueled concerns among foreign companies. © Reuters
IORI KAWATE and SHUNSUKE TABETA, Nikkei staff writers | China
BEIJING -- Investment in China by companies based abroad has sunk to the lowest level in 30 years, according to official data released on Sunday, in a sign that foreign corporations are leaving China due to tougher crackdowns on spying and U.S. sanctions.
China's foreign direct investment totaled $33 billion on a net basis in 2023, according to the State Administration of Foreign Exchange, down about 80% from 2022. The figure was positive as new investment surpassed outflows. But FDI declined for the second straight year and is less than 10% of the peak of $344 billion marked in 2021.
