Asian companies, particularly those in China, are undergoing a structural transformation in their supply chains, with many redirecting investments towards Europe amid a decoupling from the US, according to a senior banker at ING. “We see a structural change in supply chain realignment,” he said in an interview, noting that ING had collaborated with over 700 international corporations and a similar number of Asian firms across various sectors in the Asia-Pacific region. The two markets’ share of total Chinese FDI last year rose to 19.1 per cent from 15.4 per cent in 2023. The US attracted less than €2 billion or 4 per cent of global Chinese outbound FDI in 2024. The world’s largest EV maker is also building a plant in Turkey, taking advantage of the nation’s EU customs-union agreement.