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November 3, 2016

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China Hopes Germany’s Scrutiny ‘An Exception’

CHINA hopes Germany’s recent security investigations into proposed acquisitions by Chinese companies are “an exception,” a spokesman for the Ministry of Commerce said yesterday.

Shen Danyang also said China hopes Germany can be calm and create a fair environment for investors.

Germany has withdrawn its approval for a Chinese takeover of chip equipment maker Aixtron, citing security concerns.

It has also reportedly turned down a Chinese request for approval of a takeover of Osram’s light bulb unit Ledvance pending a review of the deal.

“China hopes Germany’s security re-investigation into the case is only an exception, not meaning that Germany will change its economic policies, because it will be bad for China and Germany’s trade development and outlook,” Shen said, without specifying a particular case.

Shen said concerns from some German officials that China’s acquisitions will take away technology and jobs are unnecessary.

China’s investment in Germany “is not very large” despite rapid growth in recent years, he said.


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