Major US Investment Services Provider Lays Off Staff in China, Shifting Operations to Other Countries

Facing the increasingly complex Chinese business environment, more foreign companies are withdrawing or partially withdrawing from China. Morningstar, a leading global investment services provider, also began to partially exit and shift the bulk of its business from China to other foreign locations. The Epoch Times cartography

Morningstar, a leading global investment services provider, has significantly reduced its operations in China while shifting the bulk of its business activities to foreign locations. The Chicago-based firm has been in the Chinese market for nearly 20 years.

The firm’s third-quarter financial report, released on Oct. 26, stated that it had “[begun] to incur costs from a significant reduction to its operations in Shenzhen, China, and shifting work related to its global business functions to other Morningstar locations. [And that] the remaining China operations will focus solely on domestic market activities.”