Europe
Brussels plans to present concrete initiatives screening foreign investment in Autumn
Last Updated: 2017-08-15 10:09 | Xinhua
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The European Commission seeks to present measures to closer scrutinize foreign investment in September, a move widely reported by media to target at countries including China as the bloc sees increasing presence of Chinese companies.

"We are working on this and plan to present concrete initiatives in Autumn," Annika Breidthardt, spokesperson of the executive arm, told a press briefing.

Breidthardt said concerns on foreign funds had been raised and seen in public but declined to mention specific cases the Commission was screening. She asked reporters to wait for more information till September.

The European Commission President Jean-Claude Juncker has laid out his policy agenda to protect the bloc's trade in September last year and work has been done regarding trade defense instruments, said Breidthardt.

A document adopted by the Commission in May cautioned that foreign companies, notably some state-owned enterprises, took over European companies in key industries. The European Council in June asked the Commission to screen foreign inputs in those "strategic sector."

Media reported that Juncker would announce measures in September to tackle perceived gaps in the EU's armoury compared with the United States and other major economies in vetting foreign takeovers in strategic sectors.

The move reportedly emerged as Europe worried that China may gain a technological edge by buying European know-how.

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