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Charted: Chinese FDI Inflows Hit Multi-Year Lows



See this visualization first on the Voronoi app.

A bar chart tracking Chinese FDI inflows in USD billions between 2016 and 2023.

Charted: Chinese FDI Inflows Hit Multi-Year Lows

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

The Chinese economy has thrown up several red flags in 2023 and now foreign investors are losing confidence in the world’s second-largest economy.

Data accessed via the Peterson Institute for International Economics and sourced from China’s State Administration of Foreign Exchange (SAFE) shows foreign direct investment (FDI) inflows have hit multi-year lows.

ℹ️ FDI occurs when an investor in one country acquires significant and lasting financial interest in a foreign enterprise. This data includes the IPO value of Chinese companies in foreign markets.

Foreign Investors Hit “Sell” on China in 2023

Aside from a broadly slowing economy, the Peterson Institute’s analysis highlights other key reasons why FDI inflows have scaled back so dramatically this year.

Firstly, geopolitical tensions (in the form of an escalating chip war) between the U.S. and China are worrying foreign investors—many of them American-headquartered companies with a presence in China, holding back on investments in local companies.

Secondly, the closure of due diligence firms (which allow foreign investors to make informed decisions on Chinese companies) along with a new national security law aimed at restricting cross-border data flows have disincentivized foreign investors from betting big if they wanted to.

YearFDI InflowsYoY Change

Meanwhile, huge spikes in FDI inflows between 2018 and 2021 indicate the success of Chinese companies listing on American securities exchanges, which SAFE includes in its data. However, crackdowns from both Chinese and U.S. securities regulators in 2022 turned the tap off briefly. Despite the restrictions being since removed, new listings have not bounced back.

Another Red Flag for the Chinese Economy

The Peterson Institute’s comparison of gross and net FDI flows found a nearly $100 billion shortfall—which means foreign firms are selling their Chinese investments, adding yet another red flag for the economy.

This slowdown is now having a ripple effect across the region—for Japan, South Korea, and Thailand’s economies—whose export sectors rely on substantial Chinese demand. Nations in sub-saharan Africa will also feel the pinch as Chinese sovereign lending continues to fall, already past the lowest it’s been in two decades.

Meanwhile, on a broader scale, Chinese growth contributes to one-third of world economic growth, which means the global economy will miss growth projections made last year—when economists had a more optimistic view of the world’s second-largest economy.

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Ranked: The Top 10 U.S. Pizza Chains by Market Share

Domino’s is the biggest pizza chain in the U.S. by sales.



Graphic showing America’s biggest pizza chains by 2022 revenue.

Ranked: Top 10 U.S. Pizza Chains by Market Share

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

About 3 billion pizzas are sold annually in the United States. In 2022, pizza restaurant sales in the U.S. reached an all-time high of $46.9 billion, an increase of roughly $10 billion compared to just a decade prior.

This graphic lists the top 10 U.S. pizza chains based on 2022 sales figures. This data was accessed via Statista (published June 2023).

Domino’s Domination

Domino’s is the biggest pizza chain in the U.S. by sales, reaching $8.6 billion in revenue in 2022. The brand is also found in 90 other countries around the globe, including stores on every continent except Antarctica.

According to Domino’s main website, there are over 20,500 locations worldwide, which collectively serve over 1 million customers per day.

Domino’s is followed by Pizza Hut with $5.3 billion in revenue. Little Caesars, with $4.7 billion, completes the top three.

Company2022 Revenue (USD)
Domino's Pizza8,572,000,000
Pizza Hut5,270,000,000
Little Caesars4,724,000,000
Papa Johns3,712,000,000
Marco's Pizza1,063,000,000
Papa Murphy's753,000,000
MOD Pizza662,000,000
Hungry Howie's534,000,000
Round Table463,000,000
Jet's Pizza441,000,000

The top end of this ranking contains household names, but regional pizza chains also make the cut. Jet’s Pizza is popular in the Great Lakes region, and most Hungry Howie’s locations can be found in Michigan and Florida.

The overall number of pizza restaurants in the U.S. has been on the rise, reaching more than 80,000 units in 2022.

If you enjoyed this post, be sure to check out this graphic, which visualizes the change in market share of U.S. carbonated soft drinks between 1995 and 2023.

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