Involvement of companies controlled by the State-owned Assets Supervision and Administration Commission (SASAC)
A more recent development in Germany is the involve-
ment of companies controlled by the State-owned Assets
Supervision and Administration Commission (SASAC) , the
so-called Yangqi, which means that they are owned directly
by the Chinese central government.
Between 2014 and 2016, ten of the 20 M&Atransactions in Germany
made by Chinese state-owned enterprises were made by
Yangqi or their subsidiaries. This represents
10. 1 percent of all Chinese FDI transactions in Germany
recorded during this period. Our research also indicates that
another ten M&A transactions in Germany were made by
Yangqi or their subsidiaries in the much longer time span
of ten years since the founding of the SASAC in 2003.
This development is a challenge because Yangqi can be consid-
ered an armof the Chinese central government and it is
hard to refute the assumption that FDI by these companies
are driven by industrial policy motives.
EU Forecast
euf:ba1.8i:46/nws-01