More and more companies are leaving China because manufacturing there has become way too expensive. China is focusing on the ultra-high-tech sector in their manufacturing growth strategy now. They are also generally turning away from manufacturing and towards a service economy.
10 years ago, I was working for a European electronics manufacturer producing in China. The Chinese production facility was already outsourcing low-level manufacturing steps to Eastern Europe because even 10 years ago China was already becoming too expensive and Eastern Europe was a better choice for unskilled labour.
Interestingly, most countries trying to move away from China have massive issues finding better manufacturing locations even though China is becoming ever more expensive.
Nothing compares to China in terms of infrastructure, know-how and quality. My current company tried setting up a plant in Vietnam but gave up after 3 years of trials because it just doesn't measure up to overall cost-effectiveness and ease of operations in China even though Vietnam is often celebrated as "the new China" nowadays.
Different countries have different specialties they can excel in (e.g. certain SEA nations that are great at textile manufacturing) but despite their government's efforts to make their countries more attractive, they just can't compete. China will be able to up those prices ever further for quite some time and others will only slowly move away from them. They are confident it will last until 2040 (when they want to be the number 1 ultra high tech research and manufacturing country).