Second-largest FDI in 2016

CHINA rose to the position of the second-largest source of outward foreign direct investment (FDI) for the first time in 2016, a report showed yesterday. FDI outflows from China increased 44 percent year on year to $183 billion (R2.35 trillion) last year, driven by a surge in cross-border mergers and acquisitions by Chinese firms, according to the World Investment Report 2017. The report was jointly released by the United Nations Conference on Trade and Development (Unctad) and the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce. The US remained the largest investor worldwide, while the Netherlands ranked third. In 2016, China’s FDI outflows were 36 percent more than the amount of its inflows, says the report. – Xinhua