China becomes largest recipient of FDI in H1
China becomes the largest recipient of foreign direct investment (FDI) in the first half of 2018, attracting an estimated 70 billion U.S. dollars in inflows, according to the latest investment trends monitor published on Monday by the United Nations Conference on Trade and Development (UNCTAD).
According to the UNCTAD, global FDI fell by 41 percent during the period, to an estimated 470 billion dollars, from 794 billion dollars in the same period in 2017, mainly due to large reparations by the United States parent companies of accumulated foreign earnings from their affiliates abroad following tax reforms
"The big picture of global FDI flows remains gloomy which is a bit different to what we forecast earlier," said James Zhan, director of the UNCTAD's Division on Investment and Enterprise, during a press conference in Geneva.
However, Zhan noted that "the investment flows to China continue to increase despite mounting trade tension, and increasing cost of production".
China emerged as the largest global FDI recipient, with an increase of 6 percent, followed by the UK, lifting inflows to 66 billion dollars, and the United States, 46 billion dollars.
Your Comment
Name E-mailRelated News
-
-
Chinese leaders urge more efforts to promote mass entrepreneurship, innovation
China will channel more energy into mass entrepreneurship and innovation to push forward high-quality development, said Premier Li Keqiang.
-
-
Xi congratulates Kim on founding day
Chinese President Xi Jinping on Sunday sent a congratulatory message to Kim Jong-un, top leader of North Korea, on the 70th founding anniversary of North Korea, a move experts believed sends a strong sign that China highly values the bilateral relationship.
-
-
Top legislator’s visit to North Korea a tradition, convention: FM
The upcoming visit to North Korea Saturday by China's top legislator is following a friendly tradition and convention between China and North Korea which is to send congratulations to each other on important festivals, China's Ministry of Foreign Affairs said on Wednesday.
-
-
China donates medicines to Uganda's friendship hospital
China on Thursday donated medicines and medical supplies to China-Uganda Friendship Hospital in the Ugandan capital Kampala.
-
-
Chinese tech to turn Mid-East desert into arable land
New Chinese technology is expected to convert part of a desert in the Middle East into arable land, which will also serve countries along the Belt and Road route, a research team said Tuesday.
