Report: FDI slowed in 2006

A UN report has found that China was the third-largest recipient of foreign direct investment in the world in 2006, after the US and the UK, state media reported. The report, which was released on Tuesday, said that the FDI figure of US$69 billion represented a decline of 4% from 2005, the first time that the number has declined year-on-year in the last seven years. A possible reason for the decline is China's recent push for investment in high-tech and service industries rather than labor-intensive manufacturing industries, though the latter remain the most attractive to foreign investors.