U.S. media reports that China's pressure on foreign companies may squeeze the inflow of overseas capital required by China's economy.There are signs that China's attractiveness is weakened as overseas investment destinations to other companies except large multinational companies.
The Wall Street Journal reported on Wednesday (May 3) that from the perspective of the indicator of foreign direct investment, due to the crowning measures to drag the economy, China's foreign direct investment last year was almost halved compared with the previous year.Fall to the lowest level in the past five years.Other indicators show that China is difficult to attract new foreign companies to enter.
China is still attracted a considerable share in global investment, but the growth rate of funds flowing into China has not kept pace with the expansion of China's economic expansion.The growth rate of foreign investment is far.
It is reported that as the Chinese government expands the anti -spy law, it may cover the daily activities of the enterprise, and the Western consulting company that provides the spectacle to the transnational company, the prospects of foreign investment have become more prospects for foreign investment.dim.In view of the new restrictions on the implementation of the United States investment in China, the increasingly tense relationship with the United States may also limit foreign investment.
Especially the risks are those new investment that will bring innovative concepts and cutting -edge technologies to China. Such investment is an important channel for the economy to improve productivity and residents' living standards.
Moody's analysis of the Asia -Pacific chief economist Steve Cochrane in Singapore talked about those companies that consider entering China for the first time. In a more harsh business environment, "they will think twice and then think about it.OK".He also said: "If I have not started business in China, do I really need to enter?"
Some economic divisions have analyzed that maintaining foreign direct investment is important to achieve China's long -term growth.Although China has a huge economic volume and geopolitical influence cannot be underestimated, China is still a middle -income country. It requires foreign technology and professional knowledge to improve productivity and overcome the challenges of fast aging.
The Wall Street Journal quoted the former Director of the International Monetary Fund (IMF) ESWAR PRASADThe significance of investment has never been true for money, the real focus is that all funds can bring things ... China does not have the ability to generate a lot of innovation. "
China International's InternationalRevenue and expenditure data shows that in 2022, China's foreign direct investment decreased by 48%year -on -year to US $ 180 billion (below, about 239 billion yuan).International revenue and expenditure is a common indicator for various economies to track foreign direct investment.
Report also mentioned that as earlyAnd the attraction of low -cost manufacturing destinations such as India and Vietnam is increasing.
The United States is planning to make new restrictions on investing in China in the United States. This is the latest action that the Bayeng government aims to protect the technical advantages of strategic opponents compared to strategic opponents.According to data from the Economic Analysis Administration of the US Department of Commerce, the United States invested US $ 9.2 billion in 2022, the highest since 2014.
In addition to revising the anti -spy law, in recent weeks, China has questioned the employees of the Shanghai Office of the Shanghai Office of Consulting Institution, and launched a network security review for chip manufacturers Meiguang Technology to sell products in China, And detained a senior executive of Japanese pharmaceutical company Asta Lai Pharmaceutical.It is reported that this series of actions have made foreign company executives panic.
The Chinese government also takes action to strictly control information about China flowing to the outside world, which may make potential investors more difficult to get the information they need.China has also made new restrictions on overseas economic indicators, company registration information, patents and procurement documents, and even ban.
Some economists say that the fragile political environment and a more unfriendly business atmosphere means that foreign investment in China is likely to be concentrated in a few companies that are willing to maintain or expand existing Chinese business.Especially those companies that are eager to use the huge consumer market in China.McDonald's and Xingba have said that they will open hundreds of new restaurants in China, and retailers including the owner of Coach and Kate Spade brands Tapestry Inc and Ralph Lauren are launching new stores.
The Wall Street Journal quoted Frederic Neumann, the chief Asian economist in Hong Kong in Hong Kong, said: "If you are a large, mature multinational company, you must start a business in China."
Some economists say that there will be fewer companies entering the Chinese market.In a report of the research company Rongding Group in September last year, most of Europe's investment in China is concentrated in a few large companies, such as car manufacturers Volkswagen and chemical giant BASF.The report said: "In recent years, there are almost no new European companies to choose to enter the Chinese market."
Data highlight this split.For example, according to data from the Bank of Germany, Germany's reinvestment in China in 2022 was 12.4 billion euros (about S $ 18.2 billion), which was equivalent to US $ 13.7 billion, an increase of 3.4%year -on -year, but the scale of withdrawal of capital was 12 more than new investment in China.100 million euros.
Thilo Hanemann, a partner in charge of trade and investment business, said: "New investment and new companies entering the Chinese market have indeed slowed down ...I expect this aspect to not recover. "
