Chinese foreign direct investment into Europe appears to be becoming a fixture after hitting a record $18 billion (15.9 billion euros) last year, with food and agriculture the top draw, a report said Wednesday.

Highlights from a forthcoming report by the Baker & McKenzie law firm showed that Chinese foreign direct investment (FDI) into Europe doubled last year, propelling the continent to one of the Asian giant's top global FDI destinations.

Chinese FDI into Europe barely existed before 2004, and did not really take off until 2009.

New sectors dominated, such as food and agriculture in first place at $4.1 billion and real estate in third place at $3.0 billion. Energy investments, which dominated several years ago, were in second place at $3.7 billion.

"While crisis opportunities and low valuations still play a part, consistently high levels of investment in an increasing number of sectors and countries where assets no longer look cheap suggests that Chinese FDI in Europe is a structural trend, not just a cyclical phenomenon," said Baker & McKenzie.

While acquisitions still account for most investment, the report found that Chinese companies are increasingly investing in new projects such as research and development centres, food processing facilities, machine production and real estate.

It also pointed to a greater number of smaller deals as showing the structural character of Chinese investment in Europe.

Britain was the top European destination for Chinese FDI last year at $5.1 billion, followed by Italy at $3.5 billion.

Over the past decade more than two-thirds of Chinese FDI has gone to countries that have emerged relatively unscathed from the eurozone debt crisis, although there has been significant interest in privatisation opportunities in Portugal, Italy and Spain.

"Chinese investors are clearly taking opportunities when they arise in markets going through difficult times but they also see great benefit in investing in more stable countries, where there are strong existing economic ties to China through trade and tourism," said Danian Zhang, the chief representative of Baker & McKenzie's Shanghai office.

"They are making a long-term bet on the European economy."

The report said further reforms to the Chinese economy could spur further outbound investment.

It noted that the investment trend has continued in early 2015 with the acquisition of leisure brands Club Med for $4.3 billion and Louvre Hotels Group for $1.5 billion.

China's Wanda Group announced Tuesday it has agreed to buy Infront -- the Swiss sports marketing group headed by FIFA president Sepp Blatter's nephew and which holds some broadcasting rights to the World Cup -- for 1.05 billion euros ($1.2 billion).

The full report, based on research from Rhodium Group, will be released in March together with Chinese investment bank CICC.