China’s Ministry of Commerce recently claimed that from January to April, the country’s actual use of foreign capital surged by 20.5 percent compared to the same period last year, amid a rapid depreciation of its yuan. But experts believe that the data is false as they say foreign capital has been accelerating its withdrawal from China.
Chinese Vice-Premier Hu Chunhua stressed the need to “stabilize existing foreign-funded enterprises” in a teleconference on May 9.
However, in a press conference on May 12, the Ministry of Commerce claimed the country’s use of foreign capital increased 20.5 percent for the first four months of the year compared to the previous year….