China top as global FDI increases 5.1 pct in 2007

LONDON, March 4 (Reuters) - China retained its ranking as the top target for foreign direct investment (FDI) last year, attracting $90.4 billion, while India came second and the United States third in flows, a survey showed on Tuesday.

Overall, global cross-border FDI grew by 5.1 percent in 2007 to $946.8 billion, consultants OCO Global said in an annual report.

The group said China also remained top of the list for number of FDI projects, with 1,171. The amount of money it attracted, however, was a decrease from $116 billion a year earlier.

China was also number one for jobs, attracting 366,111 of the estimated 1.2 million new posts created in the Asia-Pacific region.

India came second in investment flows, attracting $52.5 billion. It was third in number of projects with 676, which created 246,361 jobs.

The United States was third in the OCO Global list in terms of FDI inward flows, bringing in $46.8 billion to create 107,141 jobs. It was second in projects with 783.

Within Western Europe, Germany attracted the most money with $22.8 billion followed by Britain with $18.7 billion. Britain also had the most projects for Europe with 622. (Reporting by Jeremy Gaunt)