According to the Rhodium Group, between 2000–14 Chinese companies spent $52 billion on direct investments in the 28 member states of the EU. Investments increased after the sovereign debt crisis when European assets could be bought at reduced prices. The largest beneficiaries of Chinese FDI were Europe’s ‘Big 3’ countries:  $13.8 billion was invested in the UK; $7.8 billion in Germany; and $6.7 billion in France. In 2015 Italy became the largest recipient of Chinese FDI with the sale of Pirelli to ChemChina. Competition between EU member states to attract Chinese FDI may give Beijing increased influence and leverage.