This is the naturally evolution for China. They were cheap labor, but as the price goes up, they have the same problems other countries with higher labor have; factories move.
They're still cheaper than U.S. or most of Europe, of course, but are considerably more expensive than places nearby like Philippines. It was inevitable, and it's already happening. As their wages keep going up, companies will leave. It's not like China has a great workforce (they're leapers) or the government is easy to work with. They were cheap labor, and with that gone, so will be a lot of jobs.
Put those jobs in the Philippines, where they'll be happy to have a chance to make some money, instead of a country that is totalitarian, dishonest, and adversarial.