Chinese conglomerate Fosun has chosen Portugal “as the best country in Europe to invest in”. So said the private firm’s Vice-President and CEO Liang Xinjun in comments at a meeting in Shanghai.

“I’m not saying that the other countries are not good, but Portugal is the best. I say this to any Chinese person who wants to invest in Europe”, Mr Liang said, in a meeting with Portuguese reporters.

Fosun’s CEO – as quoted by Portuguese news agency Lusa – argued that, in Lisbon, “it is easier to establish friendship relationships”, adding that “costs are lower”, compared to other European capitals.

Fosun controls 84.9 percent of Portuguese insurance firm Fidelidade. According to Lusa, the acquisition represented one of the Chinese consortium’s major investments ever. Fosun paid around 1 billion euros (US$1,12 billion) to control around 30 percent of the insurance market in Portugal.

Through Fidelidade, Fosun also acquired leading Portuguese healthcare provider Espírito Santo Saúde (now named Luz-Saúde), for 460 million euros.

Lusa said the Chinese group is also regarded as one of the main candidates to buy Portuguese lender Novo Banco. But Mr Liang neither confirmed nor denied that Fosun was interested in such a deal.

Fosun’s CEO did note however that the group is “very interested in everything related to healthcare and a happy lifestyle”. The agriculture and food sector “may be an opportunity”, he added.

Portugal has become one of the main destinations in Europe for Chinese investment, since Mainland engineering firm China Three Gorges became Portuguese EDP’s major stakeholder. It is estimated that since then around US$10 billion in capital from China has entered the Portuguese economy, Lusa reported.