BEIJING

Foreign direct investments in China declined by 10% year-on-year in the first 11 months of 2023, according to official figures released on Thursday.

The total amount of foreign direct investments during the January to November period was 1.04 trillion yuan (about $145.5 billion), the Chinese Ministry of Commerce reported.

Foreign investments saw a decline from April onward after a slight increase in the first quarter of 2023.

The amount of foreign capital leaving the country exceeded the capital inflow in the third quarter, and the balance of payments turned negative for the first time in a quarter of century.

Analysts attribute the downward trend in foreign direct investments to the challenges faced by the Chinese economy in the post-pandemic recovery, as well as the impact of global geopolitical tensions.

*Writing by Gokhan Ergocun from Istanbul