October 11, 2008

China biggest recipient of FDI in 2007

It is reported that China retained its ranking as the top target for foreign direct investment last year attracting USD 90.4 billion, while India came second and the United States third in flows.

Consultants OCO Global said in an annual report that overall, global cross border FDI grew by 5.1% in 2007 to USD 946.8 billion. The group said China also remained top of the list for number of FDI projects with 1,171. The amount of money it attracted, however, was a decrease from USD 116 billion a year earlier.

China was also number one for jobs attracting 366,111 of the estimated 1.2 million new posts created in the Asia-Pacific region. India came second in investment flows attracting USD 52.5 billion. It was third in number of projects with 676 which created 246,361 jobs.

The United States was third in the OCO Global list in terms of FDI inward flows bringing in USD 46.8 billion to create 107,141 jobs. It was second in projects with 783. Within Western Europe, Germany attracted the most money with USD 22.8 billion followed by Britain with USD 18.7 billion. Britain also had the most projects for Europe with 622.