European Union Intends to Tighten Foreign Investment Control
The EU is expected to conclude a far-reaching plan before the end of the year to coordinate scrutiny of foreign investments, notably from China. The deal will probably be reached in talks on November 28.
Under the plan, the European Commission would investigate foreign investments in critical sectors to protect Europe's strategic interests in some fields of technology. Lawmakers in the parliament are pushing for a longer list of critical sectors, such as media and nano-technology.
Cecilia Malmstrom (European Trade Commissioner) said that three-way talks to find a compromise that EU countries and the European Parliament could accept had been very constructive, with just a few issues outstanding. Meanwhile, Italy's anti-establishment government, which is bent on overhauling the way the EU does business, is seeking closer investment ties with China.