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DPA
Munich
Chinese investment in Europe has plummeted by 80 per cent in the first half of the year compared with the same period in 2018, according to a semi-annual study by consultancy giant Ernst & Young (EY) released Monday.
China invested 2.4 billion dollars in European companies in the first six months of 2019, including 81 acquisitions and share purchases, EY said, noting that most of these were only small-scale deals.
The study found that China had not made any acquisitions in Germany and only invested 505 million dollars in German companies. In 2018, Asia’s largest economy invested 10 billion dollars in Germany.
The consultancy firm sees the ongoing US-China trade conflict as the main reason for the sharp decline. Chinese investments have also faced a growing sense of unease in Europe. In Germany, for instance, the government blocked the state-funded network operator SGCC from gaining access to the country’s power supply in the summer of 2018.
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13/08/2019
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