EU countries back investment screening plan with China in mind

European Union countries agreed on Wednesday to a far-reaching system to coordinate scrutiny of foreign investments into Europe, notably from China.

Under the plan, developed in the wake of a surge in Chinese investments, the European Commission would investigate foreign investments in strategic technologies and infrastructure such as ports or energy networks.

Negotiators for the European Parliament and the EU's 28 member states struck a deal last month to protect critical sectors.

However, it was not clear whether a sufficient number of countries would back the compromise, given opposition from some including Cyprus, Greece, Luxembourg, Malta and Portugal.

Some of the opponents have welcomed Chinese investment, such as Greece, whose largest port Piraeus is majority-owned by China's COSCO Shipping.

But only Italy and Britain voiced...

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