Baker McKenzie - Etude Investissements Chinois 2017-2018

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Assessing China’s FDI drop in Europe Europe and North America 2018

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1. China’s China’s global outbound investment investment dropped in 2017 2017 for the first time in more than a decade

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2. New Chinese investment activity in Europe investment Europe and North America (at least 6 characters) sharply decline

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3. The completion of mega deals pushed combined combined Chinese Send me updates from Scribd investment in both regions to a record $111 billion

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4. Europe attracted more Chinese Chinese investment than Sign Up North America in 2017 By registering a Scribd account, youchanging agree to our the industry mix 5. Greater political scrutin scrutiny y is mix

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6. China’s regulator regulatory y crackdown has changed the composition of investors

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7. An overview of locati locations ons that received the most Chinese capital in 2017

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8. Overseas regulators and political backlash backlash sank more Chinese deals than ever before

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OUTLOOK FOR 2018

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 Sign up to download Baker McKenzie - Etude In 2017, 2017, China’s global outbound investment dropped for the first time in mo re than a decade as policy Investissements Chinois changes in China and host economies cooled M&A activity and created a shift in the industries and 2017-2018

geographies targeted by Chinese investors.

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Even the deal sizes and types of Chinese investors changed. Just a few years ago, a handful of private companies including HNA, Wanda, Fosun and Anbang were responsible for more than 25% of the total value

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of Chinese deals targeting assets in Europe and North Nor th America. or with email But since the Chinese government began placing greater restrictions on outbound investment in late 2016, Name this group of investors has taken a backseat to sovereign wealth funds and state-owned players with missions to advance China’s China’s development strategies such as the Belt and Road Initiative. Email As part of these measures, the Chinese government also placed restrictions on outbound investment in sectors such as real estate, hospitality, hospitality, sports and entertainment that until recently were major drivers of Password Chinese acquisitions in Europe and North America. (at least 6 characters) Show As a result, Chinese investment in North No rth America fell 35% in 2017 to $30 billion, down from $48 billion in

2016. Chinese investment in Europe haveScribd declined 22% but the delayed completion of ChemChina’s Send me would updates from $43 billion takeover of Swiss agribusiness company Syngenta – China’ China’ss largest foreign acquisition to date – pushed up the 2017 figure to $81 billion. Sign Up These drops follow a steady and steep rise account, in Chinese outbound By registering a Scribd you agree to our investment since 2006. From 2015 to 2016 Terms of Service and Privacy Policy

alone, Chinese investment in Europe and North America more than doubled, from $41 billion to $94.2 billion. The primary disruptor of this upward trend regulation. Already have an is account? Sign inIn addition to tougher controls in China itself, growing regulatory scrutiny in target countries like the US and Germany also put a dent in FDI as the geopolitical climate becomes increasingly protectionist. This report provides insight into how and why China’s outbound investment patterns are changing in the world’ss two highest income regions: Europe and North America. It compares patterns of Chinese investment, world’ analyzes the major shifts in its geographic and industry composition, and presents an outlook for Chinese outbound investment in 2018.

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