WASHINGTON: Foreign Direct Investment (FDI) between China and U.S. passed 60 billion U.S.dollars in 2016, more than any other year in history, said a report jointly released by the Rhodium Group and the National Committee on U.S.-China Relations (NCUSCR).
"U.S.-China two-way FDI reached an all-time high in 2016, elevating the importance of this facet of the bilateral economic relationship," said the joint report, reports Xinhua.
"What used to be a one-way street - with money flowing predominantly from the United States to China - is now a two-way highway with tens of billions of dollars in annual FDI flowing in each direction," it added.
According to the joint report, the cumulative value of U.S. FDI transactions in China reached over 240 billion U.S. dollars by the end of 2016, while the cumulative Chinese FDI in the U.S. totaled 110 billion dollars by the end of last year.
With Chinese economy growing robustly, Chinese investment in U.S. have expanded at record pace. In 2016, Chinese companies invested a record 46 billion dollars in U.S., tripling the amount seen in 2015 and a tenfold increase compared to just five years ago, said the joint report.
Apart from the rapid growth for two-way FDIs, the variety of investors and target industries have also expanded from traditional energy and real estate industries to consumer services and products industries, reflecting China's growing appetite for more investment in order to meet the growing domestic consumption demand.