China Downplays Mass Exodus of Foreign Investment After Years of Lockdown Hysteria

China Downplays Mass Exodus of Foreign Investment After Years of Lockdown Hysteria


China’s Ministry of Industry and Information Technology (MIIT) struggled on Tuesday to explain the mass exodus of foreign investors from lockdown-ravaged Chinese cities by claiming it was all just a bit of harmless “industry chain relocation” and insisting China remains “a top destination for foreign investors.”

China’s state-run Global Times uncritically quoted the desperate spin from MIIT official Yao Jun:

Though some foreign-funded firms have promoted a diversified layout, overall investment in China by foreign investors has not slowed down, Yao said, noting that China’s actual use of foreign capital reached 564.2 billion yuan ($83.5 billion) in the first five months of the year, up 17.3 percent year-on-year.

China’s manufacturing industry is increasingly attracting all kinds of resource factors, and more and more

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