China was the biggest recipient of FDI in 2020: report

(Reuters) – China was the biggest recipient of foreign direct investment in 2020, as the coronavirus outbreak spread around the world during the year, with the Chinese economy generating $ 163 billion entry dollars.

China’s $ 163 billion in inflows last year, compared with $ 134 billion attracted to the United States, the United Nations Conference on Trade and Development (UNCTAD) said in a report released Sunday.

In 2019, the United States received $ 251 billion in admissions and China $ 140 billion.

The Chinese economy accelerated in the fourth quarter, with growth exceeding expectations as it ended a coronavirus-stricken 2020 in remarkably good condition and remained poised to grow again this year even then. as the global pandemic raged relentlessly.

China’s gross domestic product grew 2.3% in 2020, official data showed last week, making China the only major economy in the world to avoid a contraction last year.

The world’s second-largest economy surprised many with how quickly it recovered from the coronavirus tremor, especially as policymakers have also had to navigate strained U.S.-China relations over trade and over d ‘other fronts.

Overall, global FDI had collapsed in 2020, falling 42% to $ 859 billion, from $ 1.5 trillion in 2019, according to the UNCTAD report.

“FDI ended 2020 more than 30% below the low after the 2009 global financial crisis,” UNCTAD said on Sunday.

FDI inflows fell 37 percent in Latin America and the Caribbean, 18 percent in Africa and 4 percent in developing Asia, the report adds.

East Asia accounted for a third of global FDI in 2020, while FDI inflows to developed countries fell by 69%.