China stars in UN World Investment Report issued in Xiamen
China's foreign direct investment is in great health. It reached a record high of $139 billion in 2018, according to the 2019 World Investment Report. [Photo/VCG]
The United Nations Conference on Trade and Development, or UNCTAD, issued the 2019 World Investment Report (Chinese Version) on Sept 9, during the 2019 China International Fair for Investment and Trade.
According to the report, despite a slide in global foreign direct investment, China's FDI in 2018 rose to $139 billion from $134 billion in 2017.
The increase made China the second-largest destination for FDI after the United States, accounting for over 10 percent of total FDI globally, the report added.
It also showed that Chinese outward FDI to the countries and regions involved in the Belt and Road Initiative expanded as well: investment in non-financial industries increased by 8.9 percent year-on-year to $16 billion -- about 13 percent of China's total outward FDI.
UNCTAD issues the World Investment Report (Chinese Version) as an annual event at CIFIT.
Why Xiamen
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Xiamen is one of the most economically competitive cities in China and was one of the first Special Economic Zones on the Chinese mainland. As a vice-provincial city independently listed on the State development plan, it has provincial-level authority in economic administration and local legislative power. In 2010, the Xiamen SEZ was expanded to cover the entire municipality. Today, Xiamen is a modern and international port city.