China's first deficit in foreign investment signals West's 'de-risking' pressure

A view of the city skyline, ahead of the annual National People's Congress , in Shanghai, China February 24, 2022. Picture taken February 24, 2022. REUTERS/Aly Song/File PhotoSHANGHAI : China recorded its first-ever quarterly deficit in foreign direct investment , according to balance of payments data, underscoring Beijing's challenge in wooing overseas companies in the wake of a"de-risking" move by Western governments.

That's the first quarterly shortfall since China's foreign exchange regulator began compiling the data in 1998, which could be linked to the impact of"de-risking" by Western countries from China amid growing geopolitical tensions. Xie expects China's central bank to continue counter-cyclical interventions - including a strong bias in daily yuan fixings and managing yuan liquidity in the offshore market- to support the currency in the face of these headwinds.

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