A latest report from PricewaterhouseCoopers (PwC) shows that falling prices of companies in the West are leading Chinese enterprises to invest in Europe and North America, according to German newspaper Frankfurter Allgemeine Zeitung, Xinhuanet.com reported.

The PwC report said that Chinese investors continue the momentum of M&A activity across the world in 2012. In the first half, the volume of announced investments in company shares and acquisitions added up to $23.9 billion, trebling the number in the same period last year. The largest transaction was the purchase of the American theater chain AMC by Wanda for $2.6 billion.

The PwC report also shows that deals in the resources and energy sectors continued to dominate, representing 44 percent of the number of outbound transactions in the first half of 2012, up from 36 percent last year. This sector also accounted for 69 percent of the total deal value.

The weak economy in Europe and the US hit resource prices and the market value of many companies, at a time when the renminbi gained substantially against the euro. Jens-Peter Otto, an Assurance partner of PwC based in Shanghai, said, "For Chinese investors, a favorable buying opportunity has opened."

For the destination of their money, Chinese investors showed special interest in Germany.

According to research by Germany Trade and Invest (GTAI), one in five Chinese investors chose Germany. And last year Chinese invested in 158 projects in Germany, after 126 in 2010 and 84 in 2009.

Germany's advantages in geographical location, the scale of its market, as well as the technicians and engineers in the country, the reputation of "Made in Germany" and favorable policies in eastern Germany are all attractive to Chinese investors, said Cao Yi, of GTAI.