SINGAPORE - Singapore has surpassed the United States to emerge as the top destination for overseas investments from China in this year's China Going Global Investment Index 2017.
The report, which covered the automotive, consumer goods, energy financial services, and healthcare sectors, said: "Malaysia and Singapore stand out as attractive BRI (Belt and Road Initiative) destinations, providing an investment environment that offers opportunities as well as low levels of risk."
It pointed out that efforts by Chinese companies to develop a global cutting-edge in areas such as electric vehicles, financial technology, and renewable energy are increasingly shaping ODI (overseas direct investment) efforts.
Since the previous update to the index in 2015, the report found that developed markets remain the most attractive destinations for Chinese investments, but that developing economies have seen the most notable gains.
In the 2015 report, Singapore took the second spot as the most attractive destination for Chinese foreign investments, while the US came out top.