Investors from China went on a record spending spree in Europe in 2014, pouring money into sectors from the UK property market to the Italian energy industry.
Chinese foreign direct investment into Europe hit $18bn last year, almost double the 2013 level, according to Rhodium, a China-focused research group. Chinese investors have spent an average of $10bn in the region over the past four years.
According to the research, which was compiled for the law firm Baker & McKenzie, Britain was the top destination for Chinese money with $5.1bn in new investment.
The figures suggest that China’s economic slowdown has not hurt Chinese interest in Europe. On the contrary, the domestic situation may have boosted the desire of Chinese investors to diversify overseas, according to Rhodium.
Europe will welcome the continued strength of Chinese investment, particularly as FDI from other sources has dried up following the global financial crisis. Since the eurozone debt crisis began in 2009, Chinese groups have poured capital into the region, buying world-class brands as prices plunged because of fleeing investors.