The China Economic Review reports:

China will overtake the US as the top destination for corporate investment over the next five years, the South China Morning Post reported, citing a study by KPMG. The international accounting firm said in its survey of global corporate capital flow that funds were expected to switch from the US, Japan, Singapore and select European countries to the emerging markets of China, India, Russia and Brazil. Of the companies interviewed, 27% expected to make significant investments in the US next year, with 17% expected to make investments in China. But over the next five years, KPMG said 24% of firms interviewed would make investments in China, while 23% intended to invest in the US.

Source:

http://www.chinaeconomicreview.com/dailybriefing/2008_06_17/KPMG:_China_to_overtake_US_as_top_capital_destination_in_5_years.html