As the Sino-U.S. trade war drags on, Beijing is throwing its door wide open to f...
SHANGHAI/BEIJING - As the Sino-U.S. trade war drags on, Beijing is throwing its door wide open to foreign investors as concerns grow over declining exports, capital flight and persistent yuan weakness.
Arguably, the most eye-catching success was last year, when Tesla Inc obtained generous terms to build the first wholly foreign-owned car plant in China. The advisor, who declined to be identified, brushed aside Trump’s “pull-out” directive as “wishful thinking”, arguing that foreign investors would gravitate toward China’s huge market potential and massive consumer base.
China’s surplus in the current account, which includes mainly trade in goods and services, has been shrinking every year since 2015, hitting a 15-year-low of $49.1 billion last year. Growth in the stickier foreign direct investment , however, has been trending lower. Net FDI, as per Nomura estimates, will more than halve this year to $40.3 billion.
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