英國向其他西方國家靠攏,加強監管中資收購

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.

英國週二宣佈了一項大幅收緊外國收購監管的行動計劃，從而加入越來越多的西方國家行列，進一步利用國家安全作爲檢驗中國投資的試金石。

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.

英國首相特麗莎·梅(Theresa May)此前曾誓言要保護敏感行業，該計劃擴大了英國爲保護自己的競爭優勢而否決併購交易的範圍。擬議中的新規定加大了政府在外資收購方面的影響力，同時也降低了介入小企業、知識產權、個人資產或公司股份收購的標準。

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.

此舉使英國進一步向美國、加拿大、澳大利亞和歐洲主要經濟體看齊，這些國家一直在強化外國投資和收購的標準。在華盛頓，預計國會議員很快就會擴大一個國際交易國家安全風險調查機構的職權。

Britain and other governments in the West have had to tread a fine line when it comes to handling investment from China.

在處理來自中國的投資時，英國和其他西方政府不得不謹慎行事。

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，在全球經濟中，中國政府及中國的本土企業越來越具競爭力。但中國也是全球第二大經濟體，有雄厚的資本進行海外投資，在國內有一個巨大的消費者市場。

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.

英國和其他歐洲國家在努力保護好戰略產業的同時，又在積極爭取來自中國的投資，幫助自己的企業更好打入中國的消費羣體。

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.

在英國退歐談判的背景下，挑戰尤其巨大。很多人發出了嚴厲的警告，稱如果失去了進入歐盟二十八國集團的渠道，企業將不得不離開英國。

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.

金融公司已經開始向其他地方轉移業務。包括空中客車(Airbus)和寶馬(BMW)在內的跨國企業，都在質疑英國退歐後，是否應該維持以及如何維持它們的投資，這取決於英國與世界第二大經濟聯盟之間保持怎樣的聯繫。

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.”

英國商務大臣格雷格·克拉克(Greg Clark)週二表示，新計劃將確保英國有“適當的保障措施來保護我們國家安全的同時，確保我們的經濟在未來始終對商企有利，並且向高水平的外國投資開放”。

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.

按照這些計劃，企業主應根據一套指導原則，將任何可能引發各種國家安全風險的交易告知政府。如果未能遵守信息索取的規定，他們可能面臨刑事指控，政府也可能採取其他措施叫停它認爲存在風險的交易。

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.

英國政府表示，這些將涉及“敵對各方獲得控制權後可能會損害國家安全的實體或資產”，包括外國政府，或者與敵對國家有關的個人或者實體，通過“傳統和非傳統手段”來獲取的敏感資產。

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.

目前英國很少基於國家安全來審查交易。一箇中國競爭對手提議收購英國的飛機零部件供應商北方航空航天公司(Northern Aerospace)，是英國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.

英國政府表示，只有少數的投資活動、併購和交易確實會對國家安全構成威脅。但英國已經指出，按照新的計劃，每年需要審查的交易數量可達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，使得政府幾乎能夠對包括能源、國防和交通在內所有經濟領域施加壓力，以及包括能源網絡、主要機場和醫保數據在內的各種資產進行限制。

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，中國企業花費數十億美元在英國購買了具有戰略意義的房地產和企業，包括人稱“奶酪刨”的倫敦著名建築利德賀大樓。從紐約到法蘭克福，他們都是企業和房地產的熱情買家。

But Chinese buyers are facing increased scrutiny around the world.

但中國買家在全球面臨着越來越多的審查。

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.

中國企業在美國持續進行的一系列併購交易嘗試，也在促使華盛頓的國會議員呼籲加強對中國投資的審查。參衆兩院已經就加強美國外國投資委員會(Committee on Foreign Investment in the United States)的立法最終文本達成了一致，預計很快就能通過最終表決。

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.

根據追蹤中國海外投資的榮鼎諮詢(Rhodium Group)的數據，不斷加劇的擔憂已經造成了顯著的影響：在今年頭五個月，中國在美國新交易的價值較去年同期下降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，中國對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·梅決心提高被視爲戰略性外國投資的門檻。

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.

在近年來對中國投資態度更爲開放的加拿大，政府也以國家安全考量爲由，阻止了中方10億美元收購一家加拿大建築公司的交易。

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了是否對來自中國的投資提高壁壘的討論。在德國，一家中國家電製造商收購德國最大的工業機器人制造商庫卡(Kuka)引發強烈反彈。這筆交易幾乎在一夜之間，就讓名爲“美的”的中國企業成爲自動化領域的主要參與者。

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，中國汽車製造商吉利祕密購持戴姆勒(Daimler)90億美元股份的行動，促使德國仔細研究其投資披露規定。

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.

儘管面臨壓力，在美國遭遇越來越多困難的中國企業，仍能繼續在歐洲迅速投資。根據榮鼎諮詢和貝克麥堅時律師事務所(Baker Mackenzie)的數據，在過去的六個月，中國在該地區新宣佈的交易價值，已經超過在美國新交易價值的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.

榮鼎諮詢的董事韓其洛(Thilo Hanemann)表示：“儘管一些國家收緊了投資篩選措施，但歐洲對於中國投資仍然是相對開放的。”

“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，只有少數交易受到審查，受到干預的例子也不多。不要忘了，在特朗普式政治的時代，歐洲爲中國投資者提供了一個更加穩定的、更具可預測性的政治環境，”赫恩曼說。