According to a United Nations trade agency, China surpassed the United States as the largest recipient of foreign direct investment (FDI) in 2020.
The United Nations (Conference) Agency for Trade and Development (UNCTAD) concluded, “China has become the largest recipient of foreign direct investment last year, surpassing the United States, as it increased investment flows to it by 4%, to reach $ 163 billion.” It was reported, “Bloomberg News.”
In a statement, the agency noted that China’s return to positive GDP growth and the targeted investment facilitation program helped raise levels of foreign direct investment in the country.
Most countries witnessed a decrease in the flow of foreign direct investment, due to the Corona pandemic, including the United States, which witnessed a decrease in its flow by 49%, to reach about $ 134 billion, according to the UNCTAD Investment Trends Monitor.
Foreign direct investment is expected to remain fragile during 2021, as the Corona pandemic continues to affect the global economy.
For his part, Director of the Investment Department at UNCTAD, James Zhan, said in the statement, “The effects of the epidemic on investment will continue, and investors are likely to remain cautious in allocating capital to new productive assets abroad.”
Source: “THE HILL”