英國(guó)向其他西方國(guó)家靠攏，加強(qiáng)監(jiān)管中資收購(gòu)

Britain on Tuesday joined a growing group of Western nations hardening their use of national security as a litmus test for Chinese investments, with the government in London unveiling a blueprint to sharply tighten its oversight of foreign takeovers.

英國(guó)周二宣布了一項(xiàng)大幅收緊外國(guó)收購(gòu)監(jiān)管的行動(dòng)計(jì)劃，從而加入越來(lái)越多的西方國(guó)家行列，進(jìn)一步利用國(guó)家安全作為檢驗(yàn)中國(guó)投資的試金石。

The proposal, which follows a pledge by Prime Minister Theresa May to protect sensitive industries, widens the scope of deals that Britain can thwart to protect its competitive edge. The new rules being suggested extend the government’s reach when it comes to foreign takeovers, lowering the threshold to include acquisitions of even small companies, intellectual property, individual assets or company shares.

英國(guó)首相特麗莎·梅(Theresa May)此前曾誓言要保護(hù)敏感行業(yè)，該計(jì)劃擴(kuò)大了英國(guó)為保護(hù)自己的競(jìng)爭(zhēng)優(yōu)勢(shì)而否決并購(gòu)交易的范圍。擬議中的新規(guī)定加大了政府在外資收購(gòu)方面的影響力，同時(shí)也降低了介入小企業(yè)、知識(shí)產(chǎn)權(quán)、個(gè)人資產(chǎn)或公司股份收購(gòu)的標(biāo)準(zhǔn)。

The move aligns Britain more closely with the United States, Canada, Australia and major European economies, which have been strengthening foreign investment and takeover criteria. In Washington, lawmakers are expected to soon expand the powers of a body that investigates international deals for national security risks.

此舉使英國(guó)進(jìn)一步向美國(guó)、加拿大、澳大利亞和歐洲主要經(jīng)濟(jì)體看齊，這些國(guó)家一直在強(qiáng)化外國(guó)投資和收購(gòu)的標(biāo)準(zhǔn)。在華盛頓，預(yù)計(jì)國(guó)會(huì)議員很快就會(huì)擴(kuò)大一個(gè)國(guó)際交易國(guó)家安全風(fēng)險(xiǎn)調(diào)查機(jī)構(gòu)的職權(quán)。

Britain and other governments in the West have had to tread a fine line when it comes to handling investment from China. 在處理來(lái)自中國(guó)的投資時(shí)，英國(guó)和其他西方政府不得不謹(jǐn)慎行事。

Beijing and its homegrown companies are increasingly a competitive force in the global economy, in sectors ranging from technology to energy. But China is also the second-largest economy in the world, with deep pockets to invest overseas and a large market of consumers at home.

從能源到科技，在全球經(jīng)濟(jì)中，中國(guó)政府及中國(guó)的本土企業(yè)越來(lái)越具競(jìng)爭(zhēng)力。但中國(guó)也是全球第二大經(jīng)濟(jì)體，有雄厚的資本進(jìn)行海外投資，在國(guó)內(nèi)有一個(gè)巨大的消費(fèi)者市場(chǎng)。

Britain and other countries in Europe are trying to protect strategic industries, while courting Chinese investment and fighting to obtain better access to customers in China for their own companies.

英國(guó)和其他歐洲國(guó)家在努力保護(hù)好戰(zhàn)略產(chǎn)業(yè)的同時(shí)，又在積極爭(zhēng)取來(lái)自中國(guó)的投資，幫助自己的企業(yè)更好打入中國(guó)的消費(fèi)群體。

The challenge is especially stark for Britain as the country negotiates its withdrawal from the European Union. Dire warnings abound that companies will leave if they lose access to the 28-nation bloc.

在英國(guó)退歐談判的背景下，挑戰(zhàn)尤其巨大。很多人發(fā)出了嚴(yán)厲的警告，稱如果失去了進(jìn)入歐盟二十八國(guó)集團(tuán)的渠道，企業(yè)將不得不離開(kāi)英國(guó)。

Financial firms have already begun shifting some operations elsewhere. Multinational companies including Airbus and BMW are questioning whether and how to maintain their investments post-Brexit, depending on what kinds of links Britain maintains with the world’s second-largest economic bloc.

金融公司已經(jīng)開(kāi)始向其他地方轉(zhuǎn)移業(yè)務(wù)。包括空中客車(chē)(Airbus)和寶馬(BMW)在內(nèi)的跨國(guó)企業(yè)，都在質(zhì)疑英國(guó)退歐后，是否應(yīng)該維持以及如何維持它們的投資，這取決于英國(guó)與世界第二大經(jīng)濟(jì)聯(lián)盟之間保持怎樣的聯(lián)系。

Greg Clark, Britain’s business secretary, said on Tuesday that the latest proposal would ensure that Britain had “the appropriate safeguards to protect our national security whilst ensuring our economy remains unashamedly pro-business and open to high levels of foreign investment in the future.”

英國(guó)商務(wù)大臣格雷格·克拉克(Greg Clark)周二表示，新計(jì)劃將確保英國(guó)有“適當(dāng)?shù)谋Ｕ洗胧﹣?lái)保護(hù)我們國(guó)家安全的同時(shí)，確保我們的經(jīng)濟(jì)在未來(lái)始終對(duì)商企有利，并且向高水平的外國(guó)投資開(kāi)放”。

Under the plans, business owners will be encouraged to notify the government of any transaction that might trigger a host of potential national security risks contained in a set of guidelines. They could also face criminal charges for failing to comply with information requests or other steps the government might take to halt what it deems risky transactions.

按照這些計(jì)劃，企業(yè)主應(yīng)根據(jù)一套指導(dǎo)原則，將任何可能引發(fā)各種國(guó)家安全風(fēng)險(xiǎn)的交易告知政府。如果未能遵守信息索取的規(guī)定，他們可能面臨刑事指控，政府也可能采取其他措施叫停它認(rèn)為存在風(fēng)險(xiǎn)的交易。

Those would involve “hostile parties acquiring control over entities or assets with the potential to undermine national security,” including foreign governments acquiring sensitive assets through “traditional and nontraditional means,” or individuals or entities affiliated with hostile states, the British government said.

英國(guó)政府表示，這些將涉及“敵對(duì)各方獲得控制權(quán)后可能會(huì)損害國(guó)家安全的實(shí)體或資產(chǎn)”，包括外國(guó)政府，或者與敵對(duì)國(guó)家有關(guān)的個(gè)人或者實(shí)體，通過(guò)“傳統(tǒng)和非傳統(tǒng)手段”來(lái)獲取的敏感資產(chǎn)。

Currently Britain vets very few deals based on national security. A proposed takeover of Northern Aerospace, a British airplane parts supplier to Airbus and Boeing, by a Chinese rival is the only one this year to be held up by British officials. The deal was eventually called off.

目前英國(guó)很少基于國(guó)家安全來(lái)審查交易。一個(gè)中國(guó)競(jìng)爭(zhēng)對(duì)手提議收購(gòu)英國(guó)的飛機(jī)零部件供應(yīng)商北方航空航天公司(Northern Aerospace)，是英國(guó)官員今年叫停的唯一一筆交易。該公司是空客和波音(Boeing)的供應(yīng)商。這筆交易最終被取消。

The government said that only a small number of investment activities, mergers and transactions in Britain actually pose a risk to national security. But Britain has noted that it could review as many as 50 a year under the new plan.

英國(guó)政府表示，只有少數(shù)的投資活動(dòng)、并購(gòu)和交易確實(shí)會(huì)對(duì)國(guó)家安全構(gòu)成威脅。但英國(guó)已經(jīng)指出，按照新的計(jì)劃，每年需要審查的交易數(shù)量可達(dá)50宗。

The proposed changes could allow the government to clamp down on virtually every sector of the economy, including energy, defense and transportation, and in assets as diverse as energy networks, major airports and health care databases. “The reforms,” the government proposal said, must “be designed to ensure that control over assets themselves cannot be acquired by those who wish our country harm.”

擬議中的改革，使得政府幾乎能夠?qū)Π茉础?guó)防和交通在內(nèi)所有經(jīng)濟(jì)領(lǐng)域施加壓力，以及包括能源網(wǎng)絡(luò)、主要機(jī)場(chǎng)和醫(yī)保數(shù)據(jù)在內(nèi)的各種資產(chǎn)進(jìn)行限制。

Chinese companies have spent billions of dollars buying strategic real estate and companies in Britain in recent years, including the prominent Leadenhall Building in London, known as the Cheesegrater. And they have been enthusiastic buyers of businesses and properties from New York to Frankfurt.

近年來(lái)，中國(guó)企業(yè)花費(fèi)數(shù)十億美元在英國(guó)購(gòu)買(mǎi)了具有戰(zhàn)略意義的房地產(chǎn)和企業(yè)，包括人稱“奶酪刨”的倫敦著名建筑利德賀大樓。從紐約到法蘭克福，他們都是企業(yè)和房地產(chǎn)的熱情買(mǎi)家。

But Chinese buyers are facing increased scrutiny around the world.

但中國(guó)買(mǎi)家在全球面臨著越來(lái)越多的審查。

A steady series of attempted deals by Chinese companies in the United States has helped galvanize lawmakers in Washington to call for greater scrutiny of investments from China. The Senate and House of Representatives have agreed on the final text of legislation that would strengthen the Committee on Foreign Investment in the United States, a multiagency body known as Cfius, and are expected to approve the bill soon with a final vote.

中國(guó)企業(yè)在美國(guó)持續(xù)進(jìn)行的一系列并購(gòu)交易嘗試，也在促使華盛頓的國(guó)會(huì)議員呼吁加強(qiáng)對(duì)中國(guó)投資的審查。參眾兩院已經(jīng)就加強(qiáng)美國(guó)外國(guó)投資委員會(huì)(Committee on Foreign Investment in the United States)的立法最終文本達(dá)成了一致，預(yù)計(jì)很快就能通過(guò)最終表決。

The impact of growing concerns has been significant: The value of new Chinese deals in the United States over the first five months of this year fell 92 percent from the same period last year, to $1.8 billion, according to Rhodium Group, which tracks Chinese investment overseas.

根據(jù)追蹤中國(guó)海外投資的榮鼎咨詢(Rhodium Group)的數(shù)據(jù)，不斷加劇的擔(dān)憂已經(jīng)造成了顯著的影響：在今年頭五個(gè)月，中國(guó)在美國(guó)新交易的價(jià)值較去年同期下降92%，至18億美元。

In Britain, a Chinese investment in Hinkley Point, a new nuclear power plant on Britain’s west coast, triggered Mrs. May’s determination to raise the bar for what is considered a strategic foreign investment.

在英國(guó)，中國(guó)對(duì)西海岸新建的欣克利角核電站(Hinkley Point)的投資，促使首相特麗莎·梅決心提高被視為戰(zhàn)略性外國(guó)投資的門(mén)檻。

In Canada, which has been more open to Chinese investment in recent years, the government blocked a $1 billion takeover of a construction company, citing national security concerns.

在近年來(lái)對(duì)中國(guó)投資態(tài)度更為開(kāi)放的加拿大，政府也以國(guó)家安全考量為由，阻止了中方10億美元收購(gòu)一家加拿大建筑公司的交易。

Several splashy deals in Europe have also prompted discussion there about whether to raise the barriers for investment from China. In Germany, the acquisition of Kuka, the country’s largest industrial robot manufacturer, by a Chinese appliance maker triggered a backlash. The deal turned Midea, the Chinese company, into a major player in automation almost overnight.

在歐洲，幾筆引人注目的交易引發(fā)了是否對(duì)來(lái)自中國(guó)的投資提高壁壘的討論。在德國(guó)，一家中國(guó)家電制造商收購(gòu)德國(guó)最大的工業(yè)機(jī)器人制造商庫(kù)卡(Kuka)引發(fā)強(qiáng)烈反彈。這筆交易幾乎在一夜之間，就讓名為“美的”的中國(guó)企業(yè)成為自動(dòng)化領(lǐng)域的主要參與者。

More recently, a stealth move by the Chinese carmaker Geely to acquire a $9 billion stake in Daimler prompted Germany to take a closer look at its investment disclosure rules.

最近，中國(guó)汽車(chē)制造商吉利秘密購(gòu)持戴姆勒(Daimler)90億美元股份的行動(dòng)，促使德國(guó)仔細(xì)研究其投資披露規(guī)定。

Despite the pressure, Chinese companies, faced with increased difficulties in the United States, have been able to continue making investments at a good clip in Europe. Over the past six months, the value of newly announced Chinese deals in the region has surpassed that of new deals in the United States by nine times, according to Rhodium Group and Baker Mackenzie, the law firm.

盡管面臨壓力，在美國(guó)遭遇越來(lái)越多困難的中國(guó)企業(yè)，仍能繼續(xù)在歐洲迅速投資。根據(jù)榮鼎咨詢和貝克麥堅(jiān)時(shí)律師事務(wù)所(Baker Mackenzie)的數(shù)據(jù)，在過(guò)去的六個(gè)月，中國(guó)在該地區(qū)新宣布的交易價(jià)值，已經(jīng)超過(guò)在美國(guó)新交易價(jià)值的9倍。

“Despite the tightening of investment screening practices in several countries, Europe remains relatively open to Chinese investment,” said Thilo Hanemann, director at Rhodium Group.

榮鼎咨詢的董事韓其洛(Thilo Hanemann)表示：“盡管一些國(guó)家收緊了投資篩選措施，但歐洲對(duì)于中國(guó)投資仍然是相對(duì)開(kāi)放的。”

“Only a handful of deals are reviewed and instances of intervention remain rare compared to North America. Not to forget, in the era of Trumpian politics, Europe provides Chinese investors with a more stable and predictable political environment,” Mr. Hanemann said.

“與北美相比，只有少數(shù)交易受到審查，受到干預(yù)的例子也不多。不要忘了，在特朗普式政治的時(shí)代，歐洲為中國(guó)投資者提供了一個(gè)更加穩(wěn)定的、更具可預(yù)測(cè)性的政治環(huán)境，”赫恩曼說(shuō)。