Foreign investors have dumped more than $25 billion worth of Chinese shares this year, the Financial Times said.

That means 77% of the money they previously invested in China's stock market is now gone.

Meanwhile, other regional markets have gained, further diminishing China's competitiveness.

More than three-fourths of offshore investment in Chinese stocks has been withdrawn this year, with foreign net purchases nearing their smallest annual amount since 2015, the Financial Times reported.

The capital flight has been rapid as well.

From an early-August high of 235 billion yuan ($32.6 billion), net foreign inflows to China's stock market have tumbled 77%, representing more then $25 billion in shares, according to the FT's analysis of data from Hong Kong's Stock Connect.

Despite Beijing's myriad efforts to shore up global confidence in its economy, its actions have proven insufficient to many investors. China's property sector has continued to notch new defaults, while exports, manufacturing, and consumption have been lackluster.

It's a notable turnaround from earlier this year, when global investors piled into Chinese stocks at a record pace. The end to China's zero-COVID policies late last year propped up expectations of a stellar rebound.

While Beijing has implemented some policy support — most recently adjusting its budget mid-year and increasing the issuance of sovereign bonds — debt concerns have largely limited the scope of Chinese stimulus.

Against this, global investors have been more bullish on other emerging markets. Where China's CSI 300 index has dropped 11% in dollar terms this year, indices in Japan, South Korea, and India have risen 8%-10%, FT reported.

In fact, India and Korea extended inflow streaks this month, data platform EPFR said. Meanwhile, Vietnam recorded the largest inflow since February.

Apart from stocks, foreign direct investment in the country turned negative for the first time in 25 years, EPFR added.