PARIS, June 28 (UPI) -- A study finds China eclipsed the United States last year as the biggest recipient of foreign direct investment, the Wall Street Journal reported Monday.
The report by the Organization for Economic Cooperation and Development showed net foreign direct investment to emerging economies from the 30 OECD countries rose about six-fold in 2003 to a record $192 billion up from $31.7 billion in 2002.
Of that, China attracted $53 billion, slightly less than the year before, compared with $40 billion for the United States.
Foreign direct investment in the United States was down from $72 billion in 2002 and $167 billion in 2001. Other organization nations also lost foreign direct investment.
The figure mostly involves the purchase of physical assets, including mergers and acquisitions, joint ventures, investments in plants and equipment, the buying of property and capital transfers to foreign-owned enterprises. It doesn't include buying stocks and bonds.
