24-33  Position and Flow of Outward Direct Investment by Major Recipient Country/Territory
					(HKD 100 million)
Major Recipient	Outward Direct Investment at Market Value
Country/Territory①	Position at End of Year			Outflow in Year
	2001	2002	2003	2001	2002	2003
British Virgin Islands	14370	11483	12703	254	101	248
The mainland of China	8440	8430	9312	663	1243	599
Bermuda	919	768	884	-192	-49	-28
United Kingdom	206	205	473	9	36	46
Singapore	245	260	300	42	43	21
Malaysia	287	279	242	63	50	-28
Panama	324	390	242	95	22	-91
Thailand	206	208	216	22	26	-7
United States of America	248	322	204	-20	72	-94
Japan	115	119	152	-17	-171	10
Others	2132	1666	1638	-33	-11	-247
Total	27492	24129	26367	885	1362	429
Note: ①Country/territory here refers to the immediate destination economy. It does not necessarily reflect the country/territory in which the funds are
ultimately used.