China invests little in Europe but is targeting its operations well. Although China remains a modest investor in Europe, its operations are, however, rising by between 20 and 30% a year. This figure is not reflected by the EU-China trade relationship, which stood at €327 billion in 2009. According to the most recent statistics published by the Chinese Department of Trade, the stock of Chinese non-financial investments in the European Union reached $3.174 billion in 2008. The top duo of countries targeted are Germany ($845 million) and the United Kingdom (838 million), which are far ahead of France (167 million), Sweden (158 million), Spain and the Netherlands (145 million each), Italy (134 million), Poland (110 million), Ireland (108 million), Hungary (89 million) and Romania (86 million). Chinese investment in Europe has, nevertheless, risen by between 20 and 30% in Europe. Elsewhere, this investment is developing and now shifting towards the new technologies and research sectors and subsequently demonstrating China's determination to increase its innovation capacity. The Chinese are now a rising power in buildings and public works, the nuclear industry, transport (le TGV) and even aeronautics. They adopt a rather opportunistic approach, with Chinese investors picking about in each country until they obtain the best offer and do not hesitate in dividing up the Europeans, who seek to trade with this emerging economy. In Germany, China meets its needs in machine tools and electronics, in the United Kingdom, investment is primarily financial and in France it is more diversified (chemicals, smelting, telecoms). More recently, China has made spectacular inroads into Greece, where it is planning to double trade to a figure of $8 billion by 2015. Through Cosco (China Ocean Shipping Company), it recently won a 35-year franchise for the port of Piraeus and promises making Greece's main port the transiting hub for Chinese goods to Europe. (I.L./transl.fl)