China’s outflows of annual overseas direct investments dropped for the first time on record in 2017, official report revealed on Friday.

China’s outward direct investment dipped 19.3% to $158.29 billion last year, compared with $196.15 billion in the prior year, according to a report issued by the Ministry of Commerce, National Bureau of Statistics (NBS) and State Administration of Foreign Exchange (SAFE). This marked the first drop registered in data going back to 2002.

In addition, Chinese investment in the US amounted to $6.43 billion last year, sliding 62.1% year-on-year.

At the other end of spectrum, China’s flows to Europe hit a record high of $18.46 billion last year, surging 72.7% from the prior year.

The falling investment came at the time when Beijing and Washington stepped up scrutiny on cross-border deals, after an expansion of Chinese investment in the US. While China pushed for curbing capital flight, the US curtailed or slowed Chinese takeovers of US companies.

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