2021~2022年度是英国新建立的外资“国家安全”审查制度的实施元年,先后共出台19份配套规章和指南文件,包括进一步对17个关键(敏感)领域进行了界定,以及在发达国家中率先对高等教育和研究密集型行业的外资审查做出专门规定。2021年,中企在英投资出现强势反弹,英国重回中企在欧第二大投资目的地国的地位。《国家安全与投资法》自2022年1月生效约9个月内,前所未有地出现5宗中资交易受阻,涉及先进材料、先进技术和关键基础设施等领域,这也与上年报告的预测一致。随着地缘政治和英国国内政治的变动,中企在英投资已进入新的时期,英国对中资审查时明显加大对国家安全的考量。但在目前英镑大跌、英国经济前景不明的情况下,应仅会对相对敏感领域收紧审查,不过“敏感”交易的范围明显扩大。未来中国企业在英投资面临投资审查、双边关系、地缘政治等更大的不确定性,建议企业密切关注《国家安全与投资法》的相关配套文件与投资审查实践,在扎实的尽职调查的基础上谨慎选择时机投资。
<<The Year 2021-2022 saw the official launch of national security review in the UK,with the National Security and Investment Act 2021 going into effect in January 2022 and nineteen accompanying regulations and guidelines published. Most notably,the seventeen “key/sensitive” sectors which will be subject to more scrutiny are more clearly defined. The UK has also been arguably the first among advanced economies to highlight higher education and research-intensive sectors as an area of heightened concern. Chinese investment in the UK rebounded in 2021 after the 2020 low,now back as Europe’s second largest destination of capital outflow from China. But the first nine months of 2022 have also witnessed an unprecedented five troubled cases of Chinese investment in the UK,involving such more sensitive sectors as advanced materials,advanced technology,and critical infrastructure. Against a shifting landscape in both geopolitics and domestic politics,future Chinese investment in the UK will have to face greater scrutiny,in particular,those sensitive areas or sectors that have now been perceived as “sensitive”.
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