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Chinese investment in European Union surpasses $100 billion

January 17, 2018 12:05 am Published by

In recent years, Chinese investment in the European Union's infrastructure and other key sectors has surpassed $100 billion. Leading the way is COSCO Shipping and China Communications Construction Company (CCCC).

In 2016, COSCO Shipping, which owns the world’s fourth-largest container shipping fleet, bough 51 percent of Greece’s biggest port in Piraeus for $342 million. The company has vowed to turn the port into one of the largest container hubs in the world. The following year, COSCO went on to buy a majority stake in Spain’s Noatum Port Holdings for $244 million and 100 percent of the container terminal in the Belgian port of Zeebrugge for $42 million. Earlier, COSCO Pacific Ltd. bought 35 percent of the Euromax terminal in Rotterdam.

In July 2017. CCCC won the bid to build a new container terminal in Hamburg, one of Europe’s oldest ports. The new terminal in Hamburg will be able to accommodate ultra-large container ships.

In each of these deals, the Chinese companies were rivaled by companies with American capital. This indicates that the European market favors Chinese investment more than money from American companies.- Director of the Center for Strategic Communication

In addition to seaports, Chinese companies have been buying up other infrastructure facilities, including energy companies, power plants, chemical companies and airports.

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