SHANGHAI/HONG KONG -- Chinese companies' big offshore mergers and acquisitions even raised eyebrows in the West not long ago, but the tide of Chinese money washing over distant shores is turning into a trickle, as Beijing steps in to stem capital flight.
After shooting up 31-fold between 2004 and 2016, Chinese direct investment overseas likely will shrink this year for the first time in 15 years, with capital controls instituted by Beijing the culprit.
