The report by Rhodium Group and the Mercator Institute for China Studies (MERICS) on Chinese FDI in Europe in 2021 shows that investments in the region remained on a downward trajectory. Despite a rebound, Chinese FDI in Europe remained at an 8-year low, with the Netherlands becoming the top destination in Europe due to a Hillhouse Capital mega-deal. The investment share of China's state-owned companies dropped to a 20-year low. Greenfield investments and venture capital investments in Europe more than doubled, while European countries continued to tighten investment screening regimes. The report concludes that the era of massive Chinese investment in Europe seems to be over for now.