China is now the top destination for foreign direct investment (FDI) overtaking the United States, for the first time since 2003.
In 2014, foreign direct investment to China reached $128bn (£84,8bn), while $86bn in the US, according to the United Nations Conference of Trade and Development.
The growth in China's foreign investment has helped the services sector while the manufacturing slowed down due to falling orders. Globally, foreign investment fell by 8% to a total of $1.26tn last year.
That was the second lowest level since the start of the financial crisis, partly due to the "fragility" of the global economy last year amid geopolitical risks.
In the United States foreign investment dropped. The FDI flows to developed countries is down by 14% to about $511 billion, significantly affected by a large divestment in the United States.
US investment fell by two-thirds last year, mainly due to US firm Verizon buying back $130bn worth of shares in a joint venture from Vodafone in the UK.
The US is now third in the world for foreign investment, behind China and Hong Kong.
Its foreign investment fell by 63% last year, compared to 2013.
Top destinations for foreign direct investment in 2014 |
|
|---|---|
|
Source: UNCTAD PDF |
|
|
China |
$128bn |
|
Hong Kong |
$111bn |
|
US |
$86bn |
|
Singapore |
$81bn |
|
Brazil |
$62bn |
|
UK |
$61bn |
|
Canada |
$53bn |
|
Australia |
$49bn |
|
Netherlands |
$42bn |
|
Luxembourg |
$36bn |
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