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| High-speed trains manufactured by CSR Sifang ready to enter service, Jan. 16. (Photo/CNS) |
Chinese
investors bought out a record 120 European companies in 2013, many of them
German or British companies, according to a report by Ernst & Young.
Chinese
companies bought a total of 25 German and British companies last year, with
China becoming Germany's sixth biggest investor, following the United States,
the United Kingdom, Switzerland, France and Austria. In addition to Germany and
the United Kingdom, Chinese firms acquired 15 companies in France, and seven
each in Italy and Sweden.
Chinese
investors placed more focus on the industrial sector, consumer goods and real
estate with 24, 21 and 10 out of the 120 firms bought belonging to these
sectors respectively.
Sun Yi, a
partner at Ernst & Young, said China is buying European firms because it
wants to strengthen its innovative capabilities through the European market and
technology. Germany's automobile manufacturing sector, for example, is a
popular sector for Chinese investors.
Chinese
companies will particularly focus on prospective industries, such as the
automobile sector. Sun stated that the Chinese automobile industry is eyeing
the global market. Specialized technology, outstanding employees and
established sales channels through European brands are needed for China's
industrial development.
With the
Chinese government relaxing curbs on global investments, more Chinese investors
are expected to foray into Germany and other European countries this year, Sun
said.
A partner
at PricewaterhouseCoopers said mergers and acquisitions involving Chinese firms
in foreign countries is expected to see at least 25% growth in 2014.
Additionally,
their focus will be placed not only on natural resources such as petroleum and
natural gas firms but also emerging sectors such as biomedicine, environmental
protection and the internet.
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