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BEIJING (Reuters) - China expressed concern on Friday after Germany became the first European Union country to tighten its rules on foreign corporate takeovers, following a series of Chinese deals giving access to Western technology and expertise.
The new regulations will allow the German government to block takeovers if there is a risk of critical technology being lost abroad. They will take effect shortly with no need for parliamentary approval in a bid to protect critical infrastructure, including power grids and hospitals.
The move reflects pressure across Europe to limit takeovers by Chinese state-backed groups of prized European assets.
China's trade and business links with Germany and the European Union have brought real benefits to the peoples and companies of both sides and promoted economic growth, he added.
The purchase last year of German robotics maker Kuka by Chinese company Midea raised concern that China was gaining too much access to key technologies while shielding its own companies from foreign takeovers.
State-owned ChemChina's $43 billion purchase of Swiss pesticides and seeds group Syngenta, China's biggest overseas acquisition to date, has increased pressure in Europe to curb foreign takeovers in strategically important sectors.
(Reporting by Ben Blanchard; Editing by Robert Birsel)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)