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Be wary of state monopolies
Not only equipment manufacturing industry, but also the steel industry has begun to show concern and opposition to foreign investors.
At a recent information conference of the China Iron and Steel Association, the relevant person in charge of the association stated that the state has stipulated that foreign capital cannot control large state-owned enterprises, and the Steel Association does not support foreign capital seeking to monopolize the Chinese market in the form of equity participation. However, at present, the top dozens of large enterprises in the Chinese steel industry are almost all state-owned enterprises. State-owned enterprises have absolute control in the industry.
In an interview with this reporter, Zhang Hanya, the macroeconomic investment agency of the National Development and Reform Commission, reminded certain industries, such as steel and iron, that “we cannot intentionally create a paradox of foreign capital threats for the needs of our monopolyâ€.
Zhang’s investment office is currently conducting research on “foreign capital mergers and acquisitions and industrial safetyâ€. Zhang is the person in charge of the project. "Sometimes foreign competition can stimulate the ability of domestic companies and reduce internal friction. For instance, in the automotive industry, Chery and Geely are not all developing well." Zhang said, "Foreign capital cannot be monopolized and state assets cannot be monopolized. The ability will not allow others to come in."
He believes that the attitude to foreign capital should be “equal equality, and let go of itâ€. For example, companies like Xugong that do not endanger the national economic security should not be overseen too much; The income tax should be unified as soon as possible to eliminate the super-national treatment of foreign capital.
“The most critical thing now is to distinguish between the boundaries of industrial security and national security, and avoid the use of anti-monopoly and protection of industrial safety, to protect the monopoly of backward companies and state-owned enterprises.†Zhang Hanya said.
Domestic Equipment Manufacturing Industry Sets Foreign Merger & Acquisition Triple Door (3)
The inconclusive dispute continues until the "two sessions." Li Deshui, member of the National Committee of the Chinese People's Political Consultative Conference and former director of the National Bureau of Statistics, as a senior official of the original government, reminded the "two meetings" to "carefully treat monopolistic cross-border mergers and acquisitions." This is considered to be a signal that the high level of the central government has a clear attitude toward foreign capital mergers and acquisitions.