China was largest recipient of FDI in 2020: Report

- REUTERS - Jan 24, 2021 -

Reuters Staff -

FILE PHOTO: Cranes are seen at a construction site in Beijing, China, January 13, 2021. Picture taken January 13, 2021. REUTERS/Tingshu Wang

(Reuters) - China was the largest recipient of foreign direct investment in 2020 as the coronavirus outbreak spread across the world during the course of the year, with the Chinese economy having brought in $163 billion in inflows.

China’s $163 billion in inflows last year, compared to $134 billion attracted by the United States, the United Nations Conference on Trade and Development (UNCTAD) said in a report released on Sunday.

In 2019, the United States had received $251 billion in inflows and China received $140 billion.

China’s economy picked up speed in the fourth quarter, with growth beating expectations as it ended a rough coronavirus-striken 2020 in remarkably good shape and remained poised to expand further this year even as the global pandemic rages unabated.

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https://www.reuters.com/article/us-china-economy-fdi-idUSKBN29T0TC