DHAKA: China became one of the world’s top three investors for the first time last year as its foreign investment soared to a new record.

The government said on Monday, reports The Straits Times.

The Asian giant’s overseas direct investment rose 17.6 percent last year from 2011 to US$87.8 billion, according to a statement jointly released by the China’s commerce ministry, the National Bureau of Statistics and the State Administration of Foreign Exchange.

Globally, outbound direct investment fell 17 percent, it said, and the contrasting developments made China one of the world’s top three investors.

Last year’s increase represented an acceleration from 8.5 percent in 2011, when the global economic recovery was weak in the face of continuing financial turmoil in Europe and the United States.

BDST: 1618 HRS, SEPT 09, 2013
RoR/Jck