Another blow to China's sinking economy, now this foreign company has closed its business.

The economic condition of China, which is said to be the second largest economy in the world, is not good these days. One after another foreign companies are closing their business from China. Recently, the world's largest single investor has also closed his business from China.

The economic condition of China, which is said to be the second largest economy in the world, is not good these days. The country is going through an economic crisis. One after another foreign companies are closing their business from China. In such a situation, China is facing difficulties on the economic front and the Xi-Jinping government is continuously working to investigate its sinking economy. But despite this, instead of improving, the situation here is getting worse and Xi-Jinping seems to be failing in all their planning.

Now in the meantime, in the era of sinking economy, China has suffered another blow. The reason for this is enmity with America…enmity with America is costing China a lot. The effect of which is that foreign companies have started closing their business in China. Recently, Norges Bank Investment Management, which operates the world's largest single investor sovereign wealth fund, has also prepared to exit China and has started winding down its entire business.

The world's biggest investor left

Due to China's sinking economy and hostility with America, the situation in the country is going from bad to worse. After many foreign companies stayed away from the country, now Norges Bank Investment Management (NBIM), which operates the Sovereign Wealth Fund, one of the world's largest investors, has boycotted China. NBIM has made preparations to wrap up its entire business from China. Due to which China has suffered a big blow.

According to the information, NBIM has announced the complete closure of its office in Shanghai. By December this year the company will take over all the business from China. This company has influence among about 850 companies in China. At the same time, this company has a stake of 42 billion dollars. NBIM manages the Norwegian government's $1.4 trillion pension fund, which is the world's largest single investor in the stock market.

Reasons for foreign companies leaving China

Foreign companies are angry with the dominating attitude of China and the way the Chinese government interferes in others' business. At the same time, China's sinking economy is also the reason for leaving the country. China's real estate sector is in deep crisis, which has further increased the problems of the companies. Many big foreign companies, including Norges Bank Investment Management, have closed business in China.

Talking about the stock market, investors are also withdrawing from the stock market due to sinking economy. Ontario Teachers' Pension Plan, one of the world's largest pension funds, recently closed its China equity investments in Hong Kong. Forrester Research, a research and advisory firm focusing on American tech, has also planned to reduce the number of its analysts in China. Let us tell you, in the name of national security, China is snooping into companies, due to which the trust of foreign companies in China has been shaken. Due to which foreign companies are closing their business from China and moving to other countries.