Hello and welcome. You are listening to Patrick Boyle on Finance, a podcast exploring ideas from quantitative finance, examining events occurring in markets right now and financial history to see what lessons can be taken away, including interviews with some of the most interesting people in the world of finance. To learn more about the podcast, visit onfinance.org.

In 2014, the Chinese company Anbang Insurance Group, which at the time was described as one of China's most politically connected companies, bought the Waldorf Astoria Hotel

in New York City for nearly $2 billion.

After the acquisition, the decades-long tradition of US President staying at the Waldorf

during their trips to New York City ended.

President Obama stopped staying there and the reason given was security

concerns. The purchase of the iconic New York Hotel was a symbol of the Chinese money flowing

into the United States at a time when billions of dollars arrived in every year in the form of investments.

The port of Antwerp Bruges is the second largest port in Europe and seven of the world's top ten chemical companies have their plans right there at the port.

It's an important hub in the European economy and another example of China's strategic investments around the world.

China Costco shipping company and China merchants group, both of which are state-owned multinationals, have a 20% stake in the container terminals at the port in Antwerp and a 90% stake in its sister port of Bruges.

Together with Hutchison Port Holdings, a Hong Kong company, they comprise the big players of Chinese investments across European ports.

China's strategic investments in Europe go far beyond ports, though. They include

electricity firms, wind and solar farms, airports and much more. Last year, the British

government ordered China's Wing Tech Technology Company to undo its acquisition of Britain's

biggest microchip factory more than a year after the deal

had closed, citing national security concerns.

This was the second Chinese takeover blocked by the UK's new National Security and Investment Act,

which came into force last year after the business secretary had vetoed a Hong Kong-based firm's acquisition of an electronic design company previously.

It was the first retrospective rejection of a deal under the Act.

The decision highlighted the increasing hostility to Chinese investment around the world, particularly

in strategic sectors.

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