China suffers first net outflow of funds in 5 years in 2023

Economic stagnation diminishes market's power to retain capital

20240124N Shanghai financial

Chinese corporations and households experienced a net money outflow of $68.7 billion last year, according to official data. © Reuters

IORI KAWATE, Nikkei staff writer

BEIJING -- Chinese corporate and household funds crossing the border to other countries exceeded inflows in 2023, marking the first such capital flight in five years.

Last year saw $68.7 billion of corporate and household capital leave the country on a net basis, according to monthly data kept by China's State Administration of Foreign Exchange (SAFE).

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