Chinese owners(of European corporations, and there is a bunch of those) don't move business to China for one reason alone atm, the human capital of our skilled labour force, I'm not talking about basic manufacturing now, but high skill demanding jobs.
Europe got quite a bit of oil and gas, or rather, Denmark and Norway has, as they have claims on The Arctic region, and The Arctic holds the world's largest remaining untapped gas reserves, a fucking goldmine. The Arctic Council(Canada, Denmark, Finland, Iceland, Norway, Russia, Sweden, and the US) handle all this shit.
Just an example.
Greenland is believed by geologists to have some of the world’s largest remaining oil resources. Prospecting is taking place under the auspices of NUNAOIL, a partnership between the Greenland Home Rule Government and the Danish state. U.S. Geological Survey found in 2001 that the waters off north-eastern Greenland (north and south of the arctic circle) could contain up to 110 billion barrels (17×109 m3) of oil.