China sees first net capital outflow in more than 2 years

Declines in exports and investment from overseas shrink inflows

China's exports declined in the fourth quarter last year, which contributed to the capital flight that period. (Photo by China Daily) © Reuters

IORI KAWATE, Nikkei staff writer

February 22, 2023 03:53 JST

BEIJING -- China experienced a net outflow of funds in the last quarter of 2022 for the first time in 27 months, as exports declined and investments from abroad waned.

During the October-December period of last year, China saw a net $11.2 billion move out of the country, according to a Nikkei analysis of data from the country's State Administration of Foreign Exchange (SAFE), which tracks the monthly flow of funds through bank accounts.