China Foreign Investment Gauge Turns Negative for First Time

(Bloomberg) — A measure of foreign investment in China turned negative for the first time since records began in 1998, highlighting how overseas companies are pulling money out of the country due to geopolitical tensions and higher interest rates elsewhere.

China’s direct investment liabilities in its balance of payments declined by $11.8 billion in the third quarter, the country’s foreign exchange administration said. The measure records monetary flows connected to foreign-owned entities in China.