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/Territory
	Position at End of Year			Outflow in Year
	2002	2003	2004	2002	2003	2004
British Virgin Islands	11483	12703	14021	101	248	1368
The mainland of China	8430	9312	12116	1243	599	1448
Bermuda	768	884	1297	-49	-28	267
United Kingdom	205	473	553	36	46	49
Japan	119	152	421	-171	10	284
Singapore	260	300	342	43	21	45
Panama	390	242	286	22	-91	-27
Thailand	208	216	248	26	-7	32
United States of America	322	204	226	72	-94	31
Malaysia	279	242	222	50	-28	15
Others	1666	1638	1604	-11	-247	50
Total	24129	26367	31336	1362	429	3561
Note: Country/territory here refers to the immediate destination economy. It does not necessarily reflect the country/territory in which the funds are
ultimately used.