In the News: Germany Blocks Chinese Gas Turbine Deal; China Tops the World in Use of Generative AI; and New Regulations for Chinese Short Films

July 11, 2024 | BY

Brian Chan &Krista Lee

Germany's Economy Ministry blocks Volkswagen deal with Chinese company on national security grounds; China leads the world in the adoption of generative AI in banking and healthcare; and Chinese filmmakers wishing to submit short films to overseas film festivals must first register with authorities.

Credit: Nomad_Soul/Adobe Stock

|

Germany Blocks Chinese Enterprise from Buying Volkswagen Gas Turbine

On July 3, the German government blocked a transaction that involves the sale of MAN Energy Solutions' gas turbine business to a state-owned Chinese shipbuilding company due to national security concerns, according to report from the South China Morning Post (SCMP). It is possible that CSIC Longjiang's close links to the Chinese military fueled the rejection of the deal. The plan, announced on June 20, would have had CSIC Longjiang GH Gas Turbine take over MAN operations in Oberhausen and Zurich to develop new gas-turbine product lines. The company is a subsidiary of China State Shipbuilding Corporation, which also makes engines for Chinese naval vessels.

This premium content is reserved for
China Law & Practice Subscribers.

  • A database of over 3,000 essential documents including key PRC legislation translated into English
  • A choice of newsletters to alert you to changes affecting your business including sector specific updates
  • Premium access to the mobile optimized site for timely analysis that guides you through China's ever-changing business environment
For enterprise-wide or corporate enquiries, please contact our experienced Sales Professionals at +44 (0)203 868 7546 or [email protected]