Chinese investment in Europe, US hit record high

Beijing: Chinese investment in Europe and the US hit a record high in 2015, a report released by law firm Baker and McKenzie revealed on Thursday.

In 2015, Chinese investors poured $23 billion in Europe and $15 billion in America, according to the report.

Italy, France and Britain were the top three destinations in Europe, and New York and Texas were the top US destinations for the Chinese investment, it said.

Chinese investment was concentrated in the real estate, automobile, finance and information technology sectors, it said.

Chinese companies have entered hi-tech and high-end manufacturing through acquisition of well-known companies. 

They have aimed for long-term returns through investment in housing and infrastructure to cushion the risks of economic slowdown in China, the report said.