China has overtaken the United States as the leading global destination for foreign direct investment, according to a new report.
The United Nations' Global Investment Trends Monitor said total global FDI inflows declined by 8 percent to an estimated $1.26 trillion, due to “fragility of the global economy, policy uncertainty and geopolitical risks.”
China saw foreign direct investment of an estimated $128 billion, including both financial and non-financial sectors, according to the UN report.
The United States fell to the third-largest host country, while four of the top five recipients in the world were developing economies: China (ranked first); Hong Kong and China (second with $111 billion); Singapore (fourth with $81 billion), and Brazil (fifth, with $62 billion).
Foreign direct investment inflows to the European Union rose by 13 percent to an estimated $267 billion. Inflows to Germany and France were in negative territory.