According to this article, relations between Cyprus and China have entered a new phase with obvious political will to strengthen relations further.
Source: Cyprus-China relations enter new phaseCyprusNewsReport.Com
Chinese investors are increasingly to be seen in Cyprus. Up to now, they have been attracted by real estate, which provides wealthy Chinese with easy access to the rest of the EU. However, Chinese investors, like the Russians and other big international investors are casting their eyes over a couple of dozen large scale investments projects in Cyprus. But the real prize will be offshore gas and oil. If one throws in the increased probability of a political settlement with Turkey, Cyprus could well be set for a boom, once again.