China is one of Ireland's "top international priorities for business development", he said before adding that he looks forward to visiting China in March.

Apart from the investment group, three deals were signed on promoting trade, services and boosting cooperation in higher education between Beijing Technology University and University College Dublin.

The unemployment rate in Ireland stands at 14.5 percent, meaning over 439,000 Irish people are out of work, according to the Irish Voice newspaper. The government last week unveiled an ambitious action plan to create 200,000 jobs in eight years.

China has been Ireland's biggest trading partner in Asia for five consecutive years. Bilateral trade reached $5.87 billion in 2011, an increase of 8.6 percent from 2010.

As the only English speaking country in the eurozone, and a country with a low corporate taxrate of 12.5 percent, Ireland is an ideal place for Chinese investors to access Europe, said Kevin Lynch, founder of the law firm Clerkin Lynch and chairman of the Ireland China Association.

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