UNCTAD Report: China Remains A Developing CountryChina remained a developing country that attracted the biggest amount of foreign direct investment (FDI) in 1999, according to a United Nations report released Monday in Beijing.With a total FDI inflow of 40.4 billion U.S. dollars, China became the fourth largest FDI recipient last year, after the United States, Britain and Sweden, says the World Investment Report 2000, published by the United Nations Conference on Trade and Development (UNCTAD). According to the report, last year's FDI inflow reached 865 billion US dollars, of which cross-border mergers and acquisitions (M&As) accounted for more than 700 billion US dollars. The report says M&As are today the dominant form of FDI in developed countries, and survival in the global business arena is the driving force behind the cross-border M&A boom. The report also predicts FDI inflow will surpass one trillion US dollars this year. It is learned that not long ago, the Chinese version of the UNCTAD's World Investment Report 1999 was published to introduce to China the trends in worldwide social and economic development as well as the economic integration process. |
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