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2016年中国对欧直接投资远超欧盟对华直接投资
Chinese investment in EU dwarfs flow the other way

2017-1-11 14:36| 发布者: 悠儿| 查看: 148| 评论: 0

摘要: Chinese investors spent four times as much on acquisitions in the EU last year as European companies did in China, according to new figures that will inflame an already heated debate about growing imb ...
Chinese investors spent four times as much on acquisitions in the EU last year as European companies did in China, according to new figures that will inflame an already heated debate about growing imbalances between the world’s two largest markets.

A report by Rhodium Group, a research firm, and the Mercator Institute for China Studies, a think-tank in Berlin, estimates that Chinese direct investment in the EU surged 76 per cent to ¢35.1bn in 2016. EU acquisitions in China, by contrast, fell for the second consecutive year, to ¢7.7bn.

“The growing gap in two-way investment flows is fuelling European perceptions of a fundamental lack of ‘reciprocity’ between the EU and China,” said Thilo Hanemann at Rhodium. “Chinese interest is growing rapidly in sectors that remain restricted to foreign investors in China, which has further amplified the political salience of unequal market access.”

The imbalance was particularly sharp in Germany, where Chinese acquisitions soared to ¢11bn from ¢1.2bn in 2015. German acquisitions in China totalled ¢3.5bn, making 2016 the first year in which Chinese acquisitions in Germany exceeded German M&A activity in China.

Last year’s figures — and the Sino-EU investment imbalance — would have been larger but for a growing European backlash against Chinese investment in sensitive sectors and Beijing’s efforts to slow capital outflows over recent months. Many experts believe these developments will prevent a similar surge in Chinese outbound investment this year.

“Chinese investment in Europe will drop but it won’t fall off a cliff,” said Cui Hongjian, a European expert at the China Institute of International Studies in Beijing. “Chinese companies think highly of the EU’s investment environment and Europe needs them to boost the economy.”

Analysts believe the creation of a pan-European screening mechanism, similar to the Committee on Foreign Investment in the US (Cfius), is unlikely.

Additional reporting by Liu Xinning

新数据显示,去年中国投资者在欧盟(EU)的并购支出是欧洲企业在华并购支出的四倍。在欧盟和中国这两个全球最大市场之间日益加剧的失衡已然引发激烈争论之际,这些新数据将对这场争论起到火上浇油的作用。

研究公司荣鼎咨询(Rhodium Group)和柏林智库墨卡托中国研究中心(Mercator Institute for China Studies)发布的一份报告估计,2016年中国对欧盟直接投资激增76%,至351亿欧元。相比之下,欧盟在华并购交易额则连续第二年下滑,降至77亿欧元。



荣鼎咨询的韩其洛(Thilo Hanemann)表示:“两个方向的投资流日益拉大的差距,正在助长欧洲认为欧中之间从根本上缺乏‘互惠’的观点。中国人对某些行业的投资迅速增长,而在中国国内,外国投资者却依然难以进入这些行业,这进一步令不平等的市场准入成为政治上的关注焦点。”

这种失衡在德国表现得尤为鲜明。中国在德并购额从2015年的12亿欧元激增至110亿欧元,而德国在华并购额为35亿欧元,这令2016年成为首个中国在德并购额超过德国在华并购额的年度。

如果不是中国对敏感行业的投资在欧洲遭遇日益强烈的反弹、以及中国政府在近几个月努力减缓资本外流,去年的数字(以及中欧投资失衡)还会更高。许多专家认为,上述变化会防止今年中国对外投资出现类似的激增。

北京中国国际问题研究所(China Institute of International Studies)欧洲问题专家崔洪建表示:“中国对欧投资会下滑,但不会出现断崖式下滑。中国企业对欧盟的投资环境评价很高,欧洲也需要它们提振经济。”

分析人士认为,欧洲建立类似美国外国投资委员会(CFIUS)的泛欧审查机制可能性不大。



Liu Xinning补充报道

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