Oyogist.com has learnt that the Republic of China has reportedly surpassed the United states as the largest recipient of foreign direct investments (FDI) in 2020.
China investment flows increased last year by 4 percent to $163 billion, oyogist.com learnt further.
China decided to return back to running a steady positive GDP growth and targeted investment facilitation program which increased the country’s FDI levels, the agency noted in a release.
Globally, investment flows fell by 42 percent to $859 billion due to the coronavirus pandemic.
North American flows dropped by 46 percent to $166 billion, but Europe saw declines of about 66 percent to negative $4 billion.
Meanwhile, major developing countries were responsible for over 70 percent increase in global FDI, the highest percentage recorded.