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Germany intervenes in new Chinese takeovers, China calls for fairness

(CRI Online)    10:07, October 29, 2016

The Chinese authorities have urged the German government to provide a fair environment for Chinese enterprises.

The call follows a decision by the German side to review several takeover bids by Chinese enterprises for Germany-based firms after reports that the U.S. intelligence agency had warned some takeovers might benefit China's nuclear program.

Lu Kang, spokesman of the Chinese Foreign Ministry, said the interference runs counter to China-Germany trade and investment cooperation.

"For a long time, the trade investment between China and Germany has been following the principle of mutual benefit and win-win results, which has brought about real benefits to both sides. If Germany allows a third-party's interference, out of various interests-involved considerations when evaluating a normal investment act between enterprises of the two countries based on commercial principles, it might run against the original intention of China-Germany economic and trade cooperation on investment and will not benefit the interests of enterprises and peoples of the two countries."

Berlin withdrew permission for a Chinese company to purchase semiconductor company Aixtron on Monday, and has reopened a review of the 670-million-euro deal it initially approved around two months ago.

Another deal to be reviewed is a planned acquisition of lighting manufacturer Osram by a consortium of Chinese buyers for more than 400 million euros.

The review could take months to complete.

The interference comes less than three months after the German federal government gave a green light to the take-over by Chinese home appliance giant Midea of the German robot maker Kuka.

The German authorities also intervened in that deal citing security concerns.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Shi Jing, Bianji)

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