China companies plan to step up Europe investment

(AP) A new survey has found that Chinese companies plan to step up investment in Europe, which some see as more welcoming than the United States.

The report Thursday by the European Union Chamber of Commerce in China said companies investing in Europe are looking to acquire technology and skills to speed their development.

Chinese investment abroad rose to $77 billion in the first 11 months of last year. Some acquisitions in the United States have been blocked on security grounds, which investment consultants say has made Chinese companies more wary of investing there.

The EU Chamber said one in three companies surveyed see Europe as more open than the United States. It said Europe is seen as having little history of opposition to Chinese investment on security grounds.