A report released Tuesday in Frankfurt, Germany, says China is now the world leader in renewable energy investment, Xinhua reported.

If accurate, the ranking marks the first time a developing country has overtaken developed nations in green project investment.

The report was based on a study jointly conducted by the Frankfurt School of Finance and Management, the United Nations Environment Program and the news service Bloomberg New Energy Finance.

According to the report, the renewable energy industry saw rapid growth last year, with a record US$211 billion flowing into the sector worldwide, 30 percent more than a year earlier.

China, an emerging nation determined to change its growth pattern, leads the list of major renewable energy investors worldwide. In 2010, a total of 48.9 billion U.S. dollars were directed into green energy and technology research in China, particularly for wind farms.