“Huanqiu Shibao” on German takeover veto

Links within blockquotes added during translation — JR

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“Chinese companies increase acquisitions, German government defends layer by layer!”, Germany’s First Television channel reported on July 27. The German government would for the first time make use of new trade regulation and veto China Yantai Taihai Group’s acquisition of Leifeld company for “strategic security” reasons. “Wirtschaftswoche”, quoting people from government circles, reported that Leifeld company was situated in the small western German city of Ahlen, and a technological leader in the field of high-strength material. Interrelated material could be used in the aerospace industry, and in the nuclear industry. There were some two-hundred employees working for the company. The report said the government’s reason for its decision was that selling the company “endangered Germany’s public order or security”. A German official also told media that the German government wanted said company’s missile and nuclear technology to remain in Germany’s hands.

“中国企业加强收购,德国政府层层防御!”德国电视一台27日报道称,德国政府将首次动用新的贸易法规,以“战略安全”为由否决中国烟台台海集团对德国莱菲尔德公司的收购。《经济周刊》援引政府圈内人士报道说,莱菲尔德公司位于德国西部小城阿伦,是高强度材料领域的技术领先者,相关材料可用于航空航天业,也可用于核工业。该公司有员工约200人。报道称,政府做出这一决定的理由是,出售该企业“危及德国的公共秩序或安全”。一位德国官员还对媒体说,德国政府希望该公司的火箭和核技术掌握在德国手里。

How does China view the first case of a Chinese acquisition being vetoed by the German government? Foreign ministry spokesperson Geng Shuang said at a press conference on July 27 that China had taken note of the reports related to the case and expressed concern. He said that facing the current complicated situation of growing protectionism and unilateralism, China and Germany, as major global economies, had a common responsibility to maintain free trade and multilateralism. By broadening the two countries’ mutually beneficial cooperation with bidirectional openness and assistance, and by maintaining open global trade, positive energy could be inserted. It was hoped that Germany would view Chinese investment objectively, and create a stable institutional framework with a fair market for Chinese companies going to Germany.

中方如何看待德国政府将首次否决中国企业收购案?中国外交部发言人耿爽27日在记者会上表示,中方注意到有关报道,并对此表示关注。他说,面对当前保护主义和单边主义加剧的复杂形势,中国和德国作为世界主要经济体,有责任共同维护自由贸易和多边主义,通过扩大双向开放助力两国高水平互利合作,为维护开放型世界经济注入正能量。希望德方客观看待中国投资,为中方企业赴德投资创造公平开放的市场准入环境和稳定的制度框架。

German media say that this will be the first time for Germany’s government to put a new external-trade regulation to use that was passed in July 2017. The background for its formulation had been robot manufacturing company Kuka. According to the regulation, when investors from outside the EU want to acquire more than 25 percent of German companies’ shares, this will be examined by the German government. The examination periods have also increased from two to four months.

德国媒体表示,这将是德国政府第一次启用去年7月通过的新对外贸易条例。该条例制定的背景是中国企业收购了德国工业机器人制造商库卡等关键技术公司。按照规定,欧盟以外的投资方收购德国企业25%以上的股权,将接受德国政府的审查。调查时间也从原来的2个月增加至4个月。

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Related

Prepared to veto, Reuters, Aug 1, 2018
Regular press conference, FMPRC, July 27,2018

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