London is the most popular base for Chinese companies expanding into Europe, and has attracted 15% of all Chinese foreign direct investment into Europe since 2002, a new study shows.
Since 1997 the British capital has attracted 34 Chinese foreign direct investment (FDI) projects, with 27 of these projects having been completed since 2002, said a report by Think London, the city's investment agency.
Over the past four years, London has attracted four times as many Chinese FDI projects as Hamburg or Paris, the agency noted, citing figures by the Ernst and Young European Investment Monitor. "Trade between Britain and China has more than doubled over the past five years."
London's Chinese business community now includes over 250 mainland companies, most of which have chosen London for their European sales and marketing headquarters. In addition, there are 2,000 businesses operating in London which are Chinese-owned as well as a resident Chinese community of approximately 80,000, Think London said.
Copyright Agence France-Presse, 2006
