Foreign investors dump Chinese stocks worth record $2.5 billion amid panic selling triggered by Xi Jinping’s rise

01:30:00 PM, Tuesday 25th of October 2022 | in business

Shutdowns have slowed down China’s growth in 2022 to 3.3% as opposed to an expected 5.5%. This drop in growth rate is going to cost China almost $400 million of its GDP, but the policy isn’t going away soon since Xi Jingping has been tightening his control in the politburo. The Hang Seng index in Hong Kong has plunged to its worst level since the 2008 financial crisis, as foreigners dumped Chinese shares worth a record $2.5 billion.