It has been noted that the Chinese business expansion abroad is a recent phenomenon, which became meaningful only in the last one and a half decade when China has appeared as a net exporter of capital. A remarkable feature of the Chinese cross-border business expansion is the essential role of the state in the internationalization of Chinese MNCs which was supported by official policy instruments, including the famous “go global” strategy that encouraged thousands of Chinese firms to invest abroad especially in Europe. The driving motive of Chinese firms to go abroad aimed at acquiring new skills, advanced technology, brands and supply chains that would enhance their competitive advantage in international markets. Merger and acquisitions has been the leading market entry mode resulting in huge takeovers characterizing Chinese investments in Europe. To this end, the Chinese OFDI in Europe has generally targeted few but major economies, namely Germany, UK and France despite the investment growth in the Southern and Central European region in recent years, especially after the financial crisis.