China has overtaken the US as the world's most appealing destination for foreign investment, according to a survey of chief executives and chief financial officers conducted by the international consultancy, AT Kearney. The survey revealed a growing appreciation of the size and vibrancy of the Chinese economy. However, the biggest factor in the turnaround in perceptions was a general downturn in investor confidence and specific concerns about the security of investments in the US.
According to UN figures, China received US$50bn of FDI in 2001, compared with US$125bn in the US. The US figure was down from US$301bn in 2000.