Chinese investments in Sweden: a survey

This study maps the extent of Chinese investments in Sweden and the specific sectors and technology areas that they affect. The mapping identifies 90 Chinese acquisitions of Swedish parent companies as of February 2023. 70 of these companies are majority acquisitions and a further 20 are minority stakes. As of February 28, 2023, 21 of these 90 companies had gone bankrupt, been sold to non-Chinese owners, or otherwise ceased to have active Chinese ownership. The study has also identified 53 Chinese greenfield investments. Together with the 69 acquisitions, the number of active Chinese investments amounts to 122 companies. The total reported assets in 2021 for the 122 companies, based on Chinese ownership share, was SEK 407 billion and turnover was SEK 325 billion. The industries in which most companies are active are information and communication technology (ICT), consumer products, industrial products and machinery, and health and biotechnology. Of the acquired companies, 41 (59%) are deemed to be active in sectors that coincide with some of the ten technology areas highlighted in the Chinese industrial strategy Made in China 2025, and thus can be seen as particularly important to the Chinese state.