(Yicai Global) May 19 -- Foreign direct investment (FDI) between China and the US hit an all-time high of more than USD60 billion last year, a report released yesterday by the Rhodium Group and the National Committee on US-China Relations shows.

China's backing of the US promoted the rapid growth of bilateral direct investment in 2016, the report said. Chinese companies' funding of the States reached a record USD46 billion, tripling the amount seen in 2015. The US's direct investment in China did not increase significantly.

Cumulative US FDI in China has exceeded USD240 billion since 1990, while China's total investment in the US has been about USD110 billion. The gap between the two countries' totals should be noted to prevent an imbalance in the future, the report said.

China-US two-way FDI covered more fields in 2016 than in previous years. Real estate, transportation and infrastructure construction, information technology, consumer goods and services, as well as entertainment and media were each backed by more than USD5 billion. Real estate FDI led the pack by nearly USD20 billion as Chinese firms bought and acquired many commercial properties in the US. China pumped more than USD17 billion into the American real estate industry last year.

US investment in China will show moderate growth this year, but China's investment in the States will moderate, the report said. The bilateral flow for the year may match last year's total. FDI is a major component of China-US economic relations, and still has enormous space for development.