{"id":608692,"date":"2023-10-24T00:00:00","date_gmt":"2023-10-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/24\/capital-is-leaving-china-at-the-fastest-pace-since-2016\/"},"modified":"2023-10-24T00:00:00","modified_gmt":"2023-10-24T00:00:00","slug":"capital-is-leaving-china-at-the-fastest-pace-since-2016","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/24\/capital-is-leaving-china-at-the-fastest-pace-since-2016\/","title":{"rendered":"Capital is leaving China at the fastest pace since 2016"},"content":{"rendered":"

Investors are ditching the Chinese market: <\/strong>China has suffered aboutUSD 75 bn in net outflows in September as the country continues to struggle through an escalating crisis in its property sector, according to Bloomberg<\/a>. This is the biggest monthly outflow since 2016 and an 80% jump from August. Onshore banks sold a net USD 19.4 bn of FX during the month, a high not seen since November 2018. All of this is putting pressure on the CNY, which is inching closer to its 2023 low at the beginning of September. <\/p>\n

AND- Another huge acquisition in the fossil fuel <\/strong>industry. <\/strong>US energy giant Chevron will acquire rival Hess Corporation in a USD 53 bn all-stock transaction, it announced<\/a> yesterday. The transaction is one of the largest global acquisitions this year, and is expected to wrap up in 1H 2024. (Associated Press<\/a> | Reuters<\/a> | Bloomberg<\/a> | Financial Times<\/a> | Wall Street Journal<\/a>)<\/p>\n

Consolidation in the oil and gas industry is a thing right now: <\/strong>Exxon Mobil is looking to acquire US shale producer Pioneer Natural Resources<\/a> for nearly USD 59.5 bn.<\/p>\n

ALSO WORTH NOTING-<\/strong><\/p>\n