Investments from China to the U.S. fell much more steeply than those in the opposite direction due to Washington's crackdown on Chinese companies creating geopolitical uncertainties for businesses, Anne Hoecker, the partner with Bain & Co. who led the research, told Nikkei Asia.

"The business environment for Chinese companies in the U.S. was probably a little bit less secure than it was before, and they [China] just turned their focus to investments in Europe and Africa," said Hoecker, who specializes in technology and semiconductor practices.