The Chinese may be among the biggest "trend followers" on the planet.  As the Chinese economy started slowing down, more and more Chinese found ways of moving their money out of the country.  As the value of the Yuan dropped, that movement of money out of China accelerated even more.  So it's not a clamp down on "foreign investment".  It's a Chinese government clamp down to prevent ever more massive outflows of money from China.  

Trend following implies that people get caught up in following what other people are doing, without any other reason for what they are doing.