中国对欧盟直接投资:在规制与挑战中前行

Chinese Direct Investment in EU Moving Forward in Rules and Challenges

当前全球经济面临下行风险,贸易和投资增长势头减弱,而启动新一轮的国际直接投资是推动世界经济联动增长的重要引擎。本文以新时代下中国对欧盟直接投资为研究议题,发现近年投资规模持续减小且并购主体性质分化明显,其背后的制约因素是欧盟对中国国有企业发起的并购交易尤为敏感,对投资开放不对称的担忧以及对欧盟利益、国家安全与核心技术的保护。本文在全面解读最新欧盟直接投资规制的基础上,提出中欧双方在直接投资领域的协调可持续合作的政策建议。

At present, the global economy is facing downside risks and the momentum of trade and investment growth is weakening. We should realize that strengthening international direct investment is an important engine to promote the linkage growth of the world economy.This paper takes this as a starting point to study China’s direct investment in the European Union in the new era. The data shows that the scale of investment has been decreasing and the structure of M&A has been obviously differentiated in recent years. By analyzing the restrictive factors behind the present situation, it is found that the EU is particularly sensitive to the M&A transactions initiated by Chinese state-owned enterprises, and also because of its concern about the asymmetry of investment openness, the interests of the EU, national security and core technology. On the basis of in-depth analysis of the latest EU FDI rules, corresponding policy recommendations are given to promote the coordinated and sustainable cooperation between China and Europe in the field of FDI.