Foreign firms moving out of China

By Associated Press

Jun 22, 2023 12:20 am

BEIJING: Foreign companies are shifting investments, and their Asian headquarters out of China as confidence plunges following the expansion of an anti-spying law and other challenges, a business group said on Wednesday.

The report by the European Union Chamber of Commerce in China adds is one of many signs of growing pessimism despite the ruling Communist Party's efforts to revive interest in the world's No. 2 economy following the end of antivirus controls.

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