Chinese investment in Europe hits a record $23bn

Chinese investment in Europe and the US has reached record highs of US$23 billion and US$15 billion, respectively, The Financial Times reported, citing a joint report from law firm Baker & McKenzie and consultancy Rhodium Group. The figures are up 28% for Europe and 17% for the US, respectively, despite the economic slowdown in China. Both are on track to break annual records again this year. Italy received the most Chinese investment of any EU nation, mainly due to a US$7.9bn deal between Pirelli and ChemChina. France was number two, with US$3.6bn in investment.