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Politics UN agency reports China surpassed US in foreign direct investments in 2020

06:30  25 january  2021
06:30  25 january  2021 Source:   thehill.com

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A United Nations trade agency reported that China surpassed the U . S . as the largest recipient of foreign direct investments ( FDI ) in 2020 . The UN Conference on Trade and Developments (UNCTAD) concluded that China became the largest FDI receiver last year over the U . S ., with flows

China ’s US 3 billion in inflows last year compared to the US 4 billion attracted by the United States , according to a report released on Sunday. Overall, global foreign direct investment ( FDI ) collapsed in 2020 , falling by 42 per cent to an estimated US 9 billion, from US .5 trillion in 2019.

A United Nations trade agency reported that China surpassed the U.S. as the largest recipient of foreign direct investments (FDI) in 2020.

a flag on the side of a building: UN agency reports China surpassed US in foreign direct investments in 2020 © iStock UN agency reports China surpassed US in foreign direct investments in 2020

The UN Conference on Trade and Developments (UNCTAD) concluded that China became the largest FDI receiver last year over the U.S., with flows increasing by 4 percent to $163 billion, Bloomberg News reported.

Most countries saw decreases due to the coronavirus pandemic, including the U.S., which saw its flow drop by 49 percent to $134 billion, according to UNCTAD's Investment Trends Monitor. The U.S.'s decrease was seen in wholesale trade, financial services and manufacturing.

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(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 Overall, global FDI had collapsed in 2020 , falling by 42% to an estimated 9 billion, from .5 trillion in 2019, according to the UNCTAD report .

Global flows of foreign direct investment ( FDI ) will be under severe pressure this year as a result of the COVID-19 pandemic. It also includes a new chapter, added at the request of the UN General Assembly, on investment in the Sustainable Development Goals.

China's return to positive GDP growth and targeted investment facilitation program assisted in the country's FDI levels, the agency noted in a release.

Globally, flows fell by 42 percent to $859 billion due to the coronavirus pandemic, compared to $1.5 trillion in 2019. The global foreign direct investment reached its lowest level since the 1990s, including 30 percent lower than investments after the 2008-2009 financial crisis.

North American flows dropped by 46 percent to $166 billion, but Europe saw declines of about 66 percent to negative $4 billion.

The decreases were found to be concentrated in developed countries, where flows dropped 69 percent. Meanwhile, developing countries accounted for 72 percent of the global FDI, the highest percentage recorded.

FDI is expected to stay shaky during 2021 as the coronavirus pandemic continues to impact the world.

"The effects of the pandemic on investment will linger," James Zhan, the director of UNCTAD's investment division, said in the release. "Investors are likely to remain cautious in committing capital to new overseas productive assets."

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