Chinese investments in Vietnam from 2023 to 2025

Economic modernisation and political reforms of Vietnam: why Vietnam attracts global and Chinese investors

Vietnam is now 1 of the fastest increasing economies in the world. In keeping with the current pace of development, the country has the chance to become a high-income country by 2045, and by 2050 it may even be among the world's top 20 economies.[1]. In the second 4th of 2025, the Vietnam economy recorded the best results in the region, reaching the second best quarterly score since 2020 and the best consequence in the first half of the year since more than a decade. Growth is mainly due to the dynamics of industrial production, but besides to a unchangeable situation in terms of consumption and investment. A reflection in abroad trade is besides worth noting, which reflects Vietnam's resilience in the face of geopolitical and political uncertainty. The largest share of GDP was the service sector, but the production sector was besides an crucial driver of growth. Vietnam continues to attract crucial abroad investments. In the first half of 2025 the full value of registered abroad investments increased by 32.6% year-on-year, reaching 21.5 billion dollars. The realised investments amounted to $11.72 billion, an increase of 8.1% compared to the same period in 2024. This was the highest value achieved in the first half of the year in the last 5 years. The manufacturing and industrial processing sector accounted for a lion's share of abroad investment – 12 billion dollars. An increase of 32% year-on-year is simply a clear reflection of the global assurance in the economy of Vietnam, as well as highlighting the dynamics of companies in expansion and scaling of activity in the country[2].

One of the sectors driving Vietnam's economical growth is the IT sector. Currently, the number of startups and talent pool is increasing rapidly in the country. Government support, including taxation incentives and a pro-investment approach, is besides invaluable. In 2023, the IT sector generated $114 billion, representing as much as 8.5% of its GDP. The growth rate of the digital economy is presently around 20% per year, the best consequence of the Southeast Asian countries. An crucial accomplishment is besides the seventh position in the planet erstwhile it comes to exports of advanced technologies[3]. Vietnam's economy generated 127 billion dollars in 2024 from hardware exports and 3.5 billion dollars from IT software and services[4]. The country is besides the second largest exporter of smartphones and is found in the top 10 planet exporters of semiconductors and integrated circuits[5].

During the 26th United Nations Conference on Climate Change (COP26), Vietnam's Prime Minister Pham Minh Chinh made an ambitious commitment that Vietnam would accomplish zero net emissions by 2050. In December 2022, Vietnam joined the Fair Energy Transformation Partnership (JET-P) together with a coalition of global partners, including the United States, Japan, the United Kingdom and the European Union, within which at least $15.5 billion is to be allocated to Vietnam's first energy transformation efforts. In May, the government approved the Energy improvement Plan 8 (PDP-8), a national energy sector improvement plan for Vietnam[6]. China appears to be key to achieving these objectives, as it has considerable experience in manufacturing industrial equipment essential for the green transition.

China +1, a diversification strategy that gained global attention in 2014-2015 due to rising labour costs in China, has importantly affected the attractiveness of Vietnam as a place to invest. This strategy prompted global companies to search alternate production and supply options in countries another than China in Asia. The popularity of the concept is besides driven by geopolitical tensions, rising labour costs, as well as Trump administration policies, which aggravated instability between the US and China[8]. By producing on the Chinese market, companies frequently leave production in China. However, erstwhile it comes to serving abroad markets, entrepreneurs frequently look for a fresh location, specified as Vietnam. Vietnam's economical growth, driven by exports, has attracted millions of people out of poorness over the last 30 years, and this country has gained an crucial function in the technology supply chain.

Investment in technology parks specified as Saigon Hi-Tech Park, Hoa Lac Hi-Tech Park and Da Nang Hi-Tech Park are an crucial component in the improvement of the production sector. These facilities are equipped with state-of-the-art technologies and strategically deployed to improve connectivity and facilitate trade. In order to make business and make a friendly investment climate, parks apply various types of investment incentives, including:[9]:

• Preferential CIT rate: 10% for 15 years

• taxation holidays: 4 years off CIT and 50% off CIT for another 9 years

• taxation relief and support for workers

• 0% export taxation and VAT on high-tech products

• Access to investigation resources, affordable training and beneficial loans for discipline and technology development.

• Exemptions from infrastructure charges

• Import taxation exemptions on materials for technological activity

Interstate relations and investment flows

In 2025, Vietnam and China celebrate the 75th anniversary of diplomatic relations. The relation between China and Vietnam can surely be described as 1 of Asia's most crucial bilateral relations. The roots of Vietnamese-Chinese relations date back to distant times, as the nations combine a thousand-year cultural exchange, philosophical influences and historical ties. The formal diplomatic relations were established in 1950. China has been Vietnam's largest trading partner for many years and Vietnam has become China's most dynamic partner in Southeast Asia. The Parties shall make cooperation on industrial supply chains, cross-border logistics, digital payments and green infrastructure. Both economies are increasingly complementary and their relations are more than just economical relations – they combine commitment to peaceful improvement and regional stability. The exchange at a advanced level, specified as common visits by organization leaders, defence representatives and abroad ministers, strengthened trust and coordination, and resulted in many economical cooperation agreements covering infrastructure, the digital economy, green energy, as well as many another areas[10].

In fresh years, bilateral diplomatic relations between Vietnam and China have deepened further. On June 26, 2024, president Xi Jinping met with Ph[11]. During the meeting, president Xi Jinping stressed that China has always given precedence to Vietnam in neighbouring diplomacy and powerfully supported Vietnam in its quest for socialism, which corresponds to Vietnam's national circumstances. president Xi Jinping said that China is ready to step up exchange and common learning, deepen mutually beneficial cooperation and strive to modernise the country, focusing on goals specified as a more developed economy and culture, advanced discipline and education, as well as harmonious society. These objectives are to contribute more to planet peace, stability, improvement and prosperity according to Xi[12]. Cooperation between Vietnam and China on trade and investment is expanding and brings applicable results, becoming an crucial point in relations between the 2 countries in fresh years. The Government of Vietnam has declared that it will proceed to optimise business conditions in Vietnam and introduce more policies supporting investments to attract Chinese companies more effectively. The affirmative macroeconomic environment in Vietnam, as well as the constantly improving trade and economical relations between Vietnam and China, has increased the assurance of entrepreneurs from your mediate East. Beijing-friendly investment factors include China's geographical proximity, comparatively low labour costs in Vietnam, the possible for developing the Vietnamese market, and the similarity of Vietnam's economical improvement way to China's improvement path. Chinese companies formed an industrial cluster in Vietnam, which consists mainly of labour-intensive manufacturing manufacture and consumer electronics industry[13].

Chinese investment in Vietnam: transactions, key sectors and economical impact

According to the data of the Ministry of Trade of the PRC, in 2023 Chinese ZIB flows in Vietnam amounted to $2,593 billion, while in 2024 it was $3,920 billion. As far as ZIB resources are concerned, in 2023 it was $13.593 billion, while in 2024 it was $16.194 billion.[14]. These investments are characterised by fast growth, and Vietnam is an crucial place for China to invest abroad investments. In fresh years, economical and trade cooperation between China and Vietnam has developed steadily. China has been Vietnam's largest trading partner since 2004, and Vietnam has been China's largest trading partner under ASEAN since 2016. Bilateral trade between the 2 countries has been above $200 billion since 2020, reaching $260.65 billion in 2024, an increase of 13.5% year-on-year.[15]. According to the September 2024 HSBC report, Vietnam ranked second among markets in Southeast Asia targeted by Chinese investors, giving way only to Singapore[16].

Currently in Vietnam there are 4,750 projects from China in 19 different sectors. Of these, the 2 industries that are most curious in Chinese investors are the manufacturing and processing industries, with 2630 projects and a full investment of $22.7 billion, representing 79.6% of full Chinese abroad direct investment in Vietnam. The second sector with the top engagement is the motorcycle manufacture with 1216 projects and 522.6 million dollars of capital, which accounts for 1.83% of full investment[17].

Table 1 Chinese investments in Vietnam according to China Global Investment Tracker from 2023 to 2025

Source: American Enterprise Institute and Heritage Foundation, China Global Investment Tracker, https://www.aei.org/china-global-investment-tracker/(accessed: 04.10.2025).

Between 2023 and the first half of 2025, there were 28 Chinese projects in Vietnam at the China Global Investment Tracker base published by the American Enterprise Institute with a full value of about 6.8 billion dollars. The pace of these investments grew clearly after 2023, which coincides with Xi Jinping's start of the 3rd word of government and China's fresh phase of investment activity in Southeast Asia. Energy and transport account for almost half of the Chinese capital located in Vietnam during the period analysed. Significant, due to the fact that 40% of the percent are sectors, specified as fresh technologies and electronics. Furthermore, the majority of Chinese capital is direct investment.

As they say in China, these investments are driven by the improvement of the Vietnamese manufacturing sector, the modernisation of Chinese manufacture and the resulting request for abroad investments, as well as the economical complementarity of China and Vietnam which prompted Chinese companies to exploit the possible of the Vietnamese market[18].

Previously Chinese investments mainly came into sectors specified as processing, wood furniture production, steel, or textile industry, which caused concerns about the hazard of contamination as a consequence of these investments. In fresh years, however, many projects have emerged within the modern technologies, components and spare parts manufacture for industrial production, electronics, green energy and electrical vehicles. Many Chinese multinational corporations began to start production facilities in Vietnam. specified companies include BYD, Radian, Brotex and Quanta Computer. A large proportion of Chinese companies supplying products to large global electronics companies specified as Samsung and Apple, after marketplace analysis besides decided to open their factories in Vietnam. However, Chinese investors frequently set a number of stringent quality criteria, specified as modern infrastructure, multimodal transport connections or attractive locations for investment placement^[19].

In April 2024, car maker Chery signed a joint venture agreement with the local Geleximco company to make a $800 million factory, becoming the first Chinese electrical vehicle maker to open a plant in Vietnam. A plant with a production capacity of 200,000 vehicles per year is to be established in the coastal state of Thai Binh and its first phase of construction is to be completed in the first 4th of 2026.[20].

Another Chinese company actively investing in Vietnam is BYD. This company seeks to grow its operations in its plant in the northern state of Phu Tho, so that it can meet the increasing request of the marketplace for fresh products. The PLN 366 million investment involves diversification of the production portfolio of the plant. As Apple's sub-supplier, BYD is to produce, among others, keyboards and tablet casings with an yearly production of 1 million pieces, and tablet lynxes, which are to produce 1.59 million pieces per year. another proposed products within this expansion include USB chargers, high-speed wireless car chargers, cleaning robots, lithium batteries, 4G/5G chips, GPS modules for smartphones and tablets, consumer drones and graphics plates. BYD Vietnam plans to complete regulatory procedures and start production of fresh components at the plant between July 2025 and February 2026. The test production is scheduled to begin during this period and the full launch is planned for June 2026.[21].

However, BYD faced unforeseen obstacles, attempting to grow its electrical vehicle business to the Vietnamese marketplace in 2024. fresh Energy Holdings, Vietnamese partner BYD, who was entrusted with overseeing the beginning of at least 9 salons, including Hanoi and Ho Chi Minh, abruptly terminated his cooperation. This cooperation was essential to accomplish the nonsubjective of beginning 50 salons throughout Vietnam by the end of 2024. The dealer network was to be of crucial importance for expanding accessibility for customers and brand visibility. Despite the failures, BYD continues to prosecute sales goals in Vietnam. Since only 6% of cars sold were electrical cars in 2023, the company sees a large possible for improvement in this market. BYD had previously declared plans to build an electrical vehicle production plant in the Phu Tho region of Vietnam, which were later halted for a larger mill in Indonesia worth $1.3 billion. Despite difficulties, including competition with another electrical car manufacturers, long-term investment prospects in Vietnam are inactive favourable due to the increasing marketplace for electrical vehicles and the possible introduction of locally produced cars to the market[22].

The Chinese electronic giant Goertek, on the another hand, plans to grow its production facility in the northern state of Vietnam Bac Ninh by 25 hectares, increase employment in Vietnam to 60,000 people, and invest in the construction of a investigation and improvement centre. The company's production of telecommunications equipment and unmanned aircraft is crucial for the investment[23].

Faced with the duties imposed by the US, the Chinese giant in the textile sector, Shein decided to open a immense warehouse in Vietnam. This is to guarantee that the company reduces its dependence on mainland China, faster deliveries to Western markets and safeguards against duties imposed by the Trump administration[24].

Chinese display maker Beijing Oriental Electronics Group (BOE) invested USD 277.5 million in a mill in Phu My 3 Industrial Park in the confederate state of Ba Ria-Vung Tau in April 2024. The mill specializing in the assembly and manufacture of screens for computers, televisions and printed circuit boards is expected to start operations in 2026[25].

The Port City of Haifong, lying in northern Vietnam, always belongs to a group of localities of the highest level erstwhile it comes to the influx of ZIB. In an effort to attract investment from China, the city delegation visited China to advance investment. These actions besides aim to improve efficiency, identify investment opportunities and respond to marketplace developments, thus contributing to the economical improvement of the city[26].

The Chinese side actively engages in infrastructure construction projects in Vietnam. 1 of the crucial projects planned for 2023 was the restoration of the dust removal strategy at Formosa Ha Tinh Steel Corporation, the general contractor of which was CISDI Group Co., Ltd. subject to China Minmetals Corporation. The next project, this time made by China MCC5 Group Corp. Ltd., was the assembly of a advanced span steel structure for 2 300-tonne converters as part of the Hoa Phat Dung Quat II steel project, which is located in Quang Ngai Province, Vietnam. After the plant is launched, it is expected to produce 5.6 million tonnes of steel per year. MCC Baosteel Technology Services Co., Ltd., on the another hand, undertook to upgrade the method ironworks in Ha Tinh, which besides includes deep exhaust cleaning. In October 2023, the Huong Linh 3 wind turbine project, carried out by Power China Hubei Engineering Co., Ltd. in Vietnam, successfully reached 30 MW, symbolising the accomplishment of another crucial phase of the project. At the end of the project, it is expected to supply 75,000 MWh of clean energy to the national energy grid annually, reducing carbon dioxide emissions by about 60,000 tonnes. The task is located in Quang Tri state and consists of Huong Linh 3 and Huong Linh 4. Huong Linh 3 is equipped with 9 3.2 MW wind turbines and the Huong Linh 4 task in 10 3.2 MW wind turbines, with a full capacity of 60.8 MW. Another crucial infrastructure task was carried out in 2023 by China Communications Construction Company Limited, a RTD task (Bus fast Transit) in Hanoi, Vietnam, The value of the task was 70 million dollars and the bus way covered by the task is 33 km long, with 43 stops connecting the city centre to the surrounding area, providing more convenient public transport services for residents. In December 2023, Power China Harbor Co., Ltd. concluded an agreement with Khai Long regarding wind turbine installations under a offshore wind turbine project. The task is being implemented in the state of Ca Mau, Vietnam, and mainly involves the installation of offshore wind turbines with a capacity of 300 MW. Phase I of the task includes the installation of 19 turbines. Another Chinese company operating within the infrastructure improvement in Vietnam is China Haisum Engineering Co., Ltd., which won the second phase of the Cheng Loong sewage treatment task in Vietnam and became its general contractor. After completion of the project, the installation capacity is to be up to 10,000 tonnes per day[27].

At the end of 2024, China Huadian corp and Energy China Group expressed their intention to grow their business in Vietnam in terms of clean energy and electricity distribution. Huadian has so far invested a full capital of 2.8 billion dollars in Vietnam, and the Duyen Hai 2 task is the first offshore wind power task of the company abroad. Huadian besides seeks to increase investment in Vietnam in wind energy, green hydropower, energy retention and energy efficiency. Moreover, in connection with the search for opportunities for cooperation and investment, last December Vietnam hosted a delegation of leaders of 18 large Chinese companies, headed by China Pacific Construction Group and Susun Construction Group. China Pacific Construction was invited to research key projects, including Tu Lien Bridge, Hanoi Metro Line, a metro line connecting the global airports Tan boy Nhat and Long Thanh, and cross-border railway and road projects^[28].

During the Shanghai Cooperation Organisation Summit held on 31 August 2025 in Tiencin, many Chinese companies in the electrical vehicle, renewable energy and method advice manufacture expressed large interest in expanding investment in Vietnam. China Huadian Engineering Co., Ltd., revealed ambitions to increase investment in areas specified as wind energy or modernisation of energy networks, as well as the establishment of a investigation and improvement centre. CHD, 1 of the 5 largest energy producers in China, has already invested over $2.8 billion in Vietnam, and the heat plant Duyen Hai 2 with a capacity of 1320 MW in the state of Vinh Long in the Mekong Delta is its largest abroad task in terms of installed capacity. Peng confirmed the long-term investment strategy of CHD in Vietnam based on the expression ‘1+1+N’ (one economical operator, 1 investigation centre, 1 production base and many cooperation projects). Yadea, on the another hand, expressed the desire to engage in electrical motorcycle projects, contributing to the improvement of green transport in the country. As of 2019, Yadea operates an electrical vehicle mill in the erstwhile northern state of Bac Ninh, and thanks to the investment of $100 million, intends to increase production capacity to 2 million units. The group besides established a investigation and improvement centre in Vietnam, with its action offering support in promoting green transport across the country. Prime Minister of Vietnam Chinh besides invited the company plan Group Co. Ltd. for consultation on the Lang Son-Cao Bang motorway project, which is scheduled to be completed this year. The head of government besides suggested that the company strengthen its cooperation with Vietnamese partners in sectors specified as transport, energy, oil and gas and digital infrastructure[29].

Investment challenges: regulation and organization reforms

Despite the comparatively advanced level of abroad direct investment in relation to GDP compared to another countries in the region, Vietnam faces serious abroad investment challenges. These include widespread corruption, deep-rooted business culture, a well-established position of state-owned enterprises in certain sectors, regulatory uncertainty, weak and opaque legal systems, mediocre enforcement of intellectual property rights, a shortage of highly skilled labour and slow government decision-making processes. In order to be constantly seen as an attractive place for abroad investors, the country must ease bureaucracy and make a more transparent regulatory framework[30].

The run against corruption, which started in 2016, is crucial for improving the country's business environment and economical performance in the long term. It is besides intended to improve the economical situation of Vietnam by reducing the costs of corruption. Since the start of the campaign, Vietnam has attracted more and more abroad companies. As the ruling Communist organization tightens the control of corruption, respective officials, overwhelmed by bureaucratic concerns, exercise peculiar caution in approving abroad orders and investments to avoid any suspicion of abuse. As a result, many regular transactions in the country were paralyzed. Moreover, the obstacle is the slower obtaining of legal permits and delays in the approval process. Another aspect of anti-corruption activities is the political uncertainty they create, There are concerns that the anti-corruption run was utilized by the authorities as a weapon against political rivals, which is another major challenge for abroad investors[31]. However, it is worth noting that the state is actively working to solve these problems.

Importantly, Vietnam has besides made advancement in vocational education and infrastructure over the last fewer years and has increased its share of free trade agreements[32]. The China + 1 strategy, in addition to reducing the risks associated with supply chain disruptions or lowering labour costs, is crucial in terms of government specified as the Uighur Prevention of Force Work (UFLPA) Act, adopted by the US legislature in 2022 to combat forced labour policy in any parts of China, besides play a function in seeking diversification. Companies that violate these requirements may anticipate to be exposed to losses and to the deterioration of the company's reputation and credibility among consumers and investors. hazard simplification by investing outside China can so be a very reasonable direction for companies[33].

Conclusions: The future of Chinese-Vietnam economical cooperation

In conclusion, Vietnam is 1 of the key investment centres within the China+1 strategy. erstwhile examining your investments in Vietnam, it can be noted that the expanding share of investments in RES, electronic components, batteries, solar panels and electrical vehicles is being made. These trends are consistent with the Chinese strategy of global expansion within green manufacture 4.0. Furthermore, Chinese companies frequently place production in Vietnam to avoid US duties and reduce supply chains. Moreover, the participation of state-owned companies is increasing, reflecting Beijing's strategical priorities after the start of Xi Jinping's 3rd term. In parallel with private investments, Beijing offers loans and EPC contracts, strengthening the political component of economical relations with Vietnam. Between 2023 and 2025 Chinese investments in Vietnam entered a fresh qualitative phase. Chinese investments moving from low-cost industrial production to high-tech, stress clearly that Beijing is besides consistently implementing an industrial expansion strategy through abroad investment. Vietnam is so twice as crucial to China – it acts as both a production centre where China benefits from lower production costs and access to inexpensive labour, but it is besides a circumstantial geopolitical instrument in the South-East Asia region, thanks to which Beijing strengthens its influence in the region and takes control of infrastructure and strategical projects.

[1] An Introduction to Doing Business in Vietnam 2025 is simply a guide created by Vietnam Briefing, with the support of Dezan Shira & Associates.

[2]https://www.mckinsey.com/featured-insights/future-of-asia/souteast-asia-quarterly-economic-review (accessed: 04.10.2025).

[3] An Introduction to Doing Business in Vietnam 2025 is simply a guide created by Vietnam Briefing, with the support of Dezan Shira & Associates.

[4] NashTech. Vietnam’s Tech Landscape (June 2024). NashTech Global. (accessed: 04.10.2025).

[5] An Introduction to Doing Business in Vietnam 2025 is simply a guide created by Vietnam Briefing, with the support of Dezan Shira & Associates.

[6] https://www.state.gov/reports/2023-investment-climate-statements/vietnam (accessed 04.10.2025).

[7] Ibid.

[8] https://www.z2data.com/insights/everything-you-need-to-know-about-china-plus-one (accessed 04.10.2025).

[9] An Introduction to Doing Business in Vietnam 2025 is simply a guide created by Vietnam Briefing, with the support of Dezan Shira & Associates.

[10] https://moderndiplomacy.eu/2025/06/07/the-legacy-of-75-years-of-diplomatic-ties-vietnam-china-relations-in-a-new-era/ (accessed 04.10.2025).

[11] http://en.cppcc.gov.cn/2024-06/27/c 999616.htm (accessed: 04.10.2025).

[12] https://english.www.gov.cn/news/202504/14/content WS67fc453ac6d0868f4e8f1a5a.html (accessed 04.10.2025).

[13]https://fdi.mofcom.gov.cn/resource/pdf/2024/12/05/490b01360af94762aa67d895e2ad4e03.pdf (accessed: 04.10.2025).

[14] 2024 Statistical bullletin of China’s outward FDI, Ministry of Commerce, https://www.gov.cn/lianbo/bumen/202509/P020250908508134967854.pdf (accessed: 04.10.2025).

[15]https://en.chinadiplomacy.org.cn/2025-04/11/content 117817679.shtml (accessed: 04.10.2025).

[16] https://en.vietnamplus.vn/chinese-investors-flock-to-vietnam-fueling-economic-growth-post313413.vnp (accessed 04.10.2025).

[17] https://investvietnam.gov.vn/en/news–events.nd/chinas-fdi-investment-situation-in-vietnam.html (accessed 04.10.2025).

[18]https://www.globaltimes.cn/page/202502/1329148.shtml (accessed: 04.10.2025).

[19] https://vir.com.vn/chinese-investors-ahead-in-new-registered-projects-123133.html (accessed 04.10.2025).

[20]https://www.reuters.com/business/autos-transport/chinas-chery-set-up-800-million-automobile-factory-vietnam-2024-04-04-04/ (accessed: 04.10.2025).

[21] https://theinvestor.vn/chinas-electronics-giant-byd-plans-expansion-at-northern-vietnam-plant-d15726.html (accessed 04.10.2025).

[22] https://www.vietwheels.com/en/posts/byd-s-challenges-in-breaking-into-vietnam-s-ev-market (accessed 04.10.2025).

[23] https://theinvestor.vn/chinas-goertek-seeks-25-hectare-expansion-in-northern-vietnam-d14393.html (accessed 04.10.2025).

[24] https://www.reuters.com/world/china/shein-set-up-huge-vietnam-warehouse-us-tariff-hedge-sources-say-2025-05-15/ (accessed: 04.10.2025).

[25] https://investvietnam.vn/china-leads-in-number-of-fdi-projects-in-vietnam-in-seven-months-n3090.html (accessed 04.10.2025).

[26] https://investvietnam.vn/china-leads-in-number-of-fdi-projects-in-vietnam-in-seven-months-n3090.html (accessed 04.10.2025).

[27] https://fdi.mofcom.gov.cn/resource/pdf/2024/12/05/490b01360af94762aa67d895e2ad4e03.pdf (accessed 04.10.2025).

[28] https://vir.com.vn/chinese-investors-ahead-in-new-registered-projects-123133.html (accessed 04.10.2025).

[29] https://theinvestor.vn/leading-chinese-corporations-keen-on-expanding-investments-in-vietnam-d16856.html (accessed 04.10.2025).

[30] https://www.state.gov/reports/2023-investment-climate-statements/vietnam (accessed 04.10.2025).

[31] https://www.legalbusinesssonline.com/features/explainer-vietnam-cracks-down-corpion-what-impact-foreign-investors (accessed: 04.10.2025).

[32] https://www.ft.com/content/29070eda-3a0c-4034-827e-0b31a0f3ef11 (accessed 04.10.2025).

[33] https://www.z2data.com/insights/everything-you-need-to-know-about-china-plus-one (accessed 04.10.2025).