China takes lion's share of Singapore investment
Posted: 8:19 AM | Aug. 23, 2003
Agence France-Presse
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SINGAPORE -- Singapore's total investments abroad exceeded 257 billion Singapore dollars (147 billion US dollars) by the end of 2001, with China taking the lion's share of direct investments, official figures showed Friday.
Out of the total, direct investments reached 131.2 billion dollars, with 16.5 billion dollars heading for China, the Department of Statistics said in a statement.
Financial havens British Virgin Islands and Bermuda came next, followed by Malaysia, Hong Kong, Indonesia, the United States and Britain.
In terms of activity, financial services took the biggest slice of total direct investment at 74.1 billion dollars, followed by manufacturing at 27.2 billion dollars.
In addition to direct investments, the total investment stock of 257 billion dollars includes direct equity investments, lending to subsidiaries and associates, portfolio investments, and other foreign assets.
The total investment stock was 12 percent higher over end-2000 levels.
In China, more than two-thirds of Singapore investments were channeled to the manufacturing sector, followed by real estate.
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