Foreign direct investment in China hit a record US$60.6bn in 2004, a growth of 14% for the year as a whole, although the rate of investment growth slowed slightly toward the end of the year, the Ministry of Commerce said. Much of the growth was caused by big multinationals such as Wal-Mart and Coco-Cola investing in expansion to meet urgent domestic demand. In 2003, when China was hit by the SARS virus, inflow of foreign investment grew by just 1.4%, although even then it managed to surpass the United States as the world's top foreign investment destination. Economists say many companies are rushing to invest in China ahead of an anticipated revaluation of the yuan this year. In addition, many textile makers are moving production to China, expecting that the end of a global quota system at the start of 2005 will make Chinese textile exports more competitive.