The preliminary data released by the State Administration of Foreign Exchange (SAFE) of China on Sunday revealed that the country's direct investment liabilities in its balance of payments stood at $33 billion in 2023. That measure of new foreign investment (FDI) into China, which records monetary flows linked to foreign businesses in the country, was 82% lower than in 2022 and the lowest since 1993.
The SAFE's measure indicates that foreign companies lack confidence amid geopolitical tensions and a continuing weakness in the Chinese economy.