Chinese firms from carmakers to miners are ramping up their overseas spending, adding to pressure on the yuan amid an accompanying exodus of foreign capital.
Chinese non-financial companies invested almost $129 billion outside the country in the first 11 months of this year, according to government data released Thursday. That puts outflows for 2024 on track to be the highest since 2016, with car firms, battery companies and others pouring money overseas to develop new production bases and improve access to raw materials.
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