China has become the world's third largest foreign direct
investment (FDI) recipient, according to the World Investment
Report 2006.
According to the report released by the UN Conference on Trade
and Development (UNCTAD) on Monday, China is also the largest FDI
destination of all developing countries, receiving US$72.4 billion
of FDI in 2005.
The report showed that the FDI into China's financial services
sector hit a record high of US$12 billion in 2005.
At the same time, Chinese companies have been actively investing
overseas, according to the report.
Between 2002 and 2005, the overseas investment of Chinese
multinationals registered an average annual growth of 65.6
percent.
By the end of June this year, China's investment overseas
totaled US$63.64 billion, the report said.
(Xinhua News Agency October 17, 2006)
