Chinese stocks lost $1.5 trillion in January 2024
Mint — February 9, 2024, 06:00 AM UTC
Summary: In 2024, Chinese and Hong Kong stocks lost $1.5 trillion in January, with a total decline of $7 trillion since 2021. Foreign investors have lost trust in China's economy due to erratic policymaking and strained US-China relations. China's wealthy are experiencing financial reversals, leading to capital outflows. President Xi Jinping's interventions aim to prop up stock prices, but his control-focused approach hinders necessary economic reforms. This could impact China's growth and innovation.
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