Germany has invoked national security concerns to block the sale of a gas turbine business to a Chinese company, in the latest western move to protect sensitive technologies from potential misuse in China.
The veto on the sale of MAN Energy Solutions’ unit comes as Berlin tries to chart a more security-conscious path in its relations with China, its largest trading partner, despite mounting concerns about the competitiveness of the German economy and its flagging exports.
“We confirm that the federal government has decided not to approve the sale of our gas turbine business to CSIC Longjiang GH Gas Turbine Co,” said a spokesperson for Augsburg-based MAN, which is part of automaker Volkswagen. “We respect the government’s decision.”
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