06/06/2012 11:26 EDT | Updated 08/06/2012 05:12 EDT

Study: China investment in Europe triples in 2011, could total $500 billion by 2020

BEIJING, China - A new study says China's annual investment in Europe tripled last year to $10 billion as Chinese companies sought new markets and technology.

The report Thursday by the New York City-based Rhodium Group said total Chinese investment in Europe could reach $500 billion by 2020.

The report's authors said most Chinese investment appeared to be driven by commercial motives, rather than government directives.