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China companies plan to step up Europe investment

Published on NewsOK Modified: January 31, 2013 at 8:18 pm •  Published: January 31, 2013

In Europe, companies have made a series of high-profile investments, including the 3.3 billion euro acquisition of Portuguese power utilities.

"This is part of a strategy to collect more technology, more R-and-D, to be more competitive in a global environment," said Cucino.

The EU Chamber survey was based on responses by 74 companies, all of which already have operations in Europe and two-thirds of which have at least 10,000 employees.

It included no financial details, reflecting the relative secretiveness of China's government and companies.

"The data available are murky," said Cucino.

U.S. officials stress that few investments are subject to security reviews but a handful of high-profile cases have prompted Chinese complaints.

In October, a congressional panel said two Chinese makers of telecom equipment, Huawei Technologies Inc. and ZTE Corp., are potential security threats that Americans should avoid doing business with. The companies denied they are a security risk.

The previous month, President Barack Obama blocked Chinese-owned Ralls Corp.'s plan to build four wind farms near a Navy base. Ralls has said it would never threaten U.S. security and has sued to overturn the ban.