Italy-China, the loose sweaters of golden power
Maybe the golden power isn’t that powerful. On the contrary, the wide range of rules and regulations would make it possible to do business even in sectors deemed sensitive and strategic by the Italian government. The story of Alpi Aviation, a‘Italian drone company that would be bought by Mars Information Technology, a company based in Hong Kong but which according to various sources is on excellent terms with the Chinese government. As often happens, in fact, the mixture between the private and public sectors, as well as between the civil and military sectors, is very strong in the People’s Republic. An example of strategic shopping that becomes emblematic and on which, according to Reuters, the Draghi government is preparing formal protests against Chinese entities.
The story has become a real international intrigue, given that the Wall Street Journal also talks about it on the front page. It all started in August, when the Pordenone Financial Police launched investigations into the Italian company for alleged violation of the law on the handling of weapons materials and possible violations of the so-called legislation “golden power“which protects strategic Italian companies. The company in question produces military drones, aircraft and spacecraft. A particularly delicate affair given that the company produces military-type “Unmanned Aerial Vehicle” UAV systems certified by the standards Born. A purchase that more than investment reasons would therefore have purely had the purpose of acquiring technological and military know-how, with the transfer of the production structure near Shanghai. All with operations for which authorization would not have been previously requested from the Italian ministries, according to what is claimed by Finance.
Italian drones acquired by a Chinese company attributable to state entities
Alpi Aviation had vigorously defended itself at the news of the start of the investigations: “The company we represent firmly denies that in its conduct we must recognize violations of the rules protecting the ‘Golden Power’ and the legislation that regulates the transfer of strategic information or technology outside the national territory“e” reserves all actions to protect its image. As regards the sale of the company’s shares, the same took place in a transparent manner, with reference to the real value of the company and in compliance with tax regulations. “In the same press release, the lawyers expressed” bewilderment “at the dissemination of news from part of the Guardia di Finanza, who anticipate “improperly assessments and conclusions regarding a criminal proceeding still under investigation”.
But according to what emerged from the investigations, Mars Technology would be attributable to China Corporate United Investment Holding (CCUI) and CRRC Capital Holding. Up to, according to Reuters, state entities, since the two groups would report directly to the public company Management Committee of Wuxi Liyuan Economic Development Zone and SASAC, the Commission for the supervision and administration of state-owned assets. According to what three sources aware of the dossier report to Reuters, the executive believes that the transaction should be subject to prior notification based on the rules on special powers to oversee strategic assets.
The Draghi government and the reverse on China from
At the end of the investigation, the Draghi government could impose sanctions and even cancel the acquisition. It would be a new blow to relations between Rome and Beijing. On the other hand, it is significant to follow the chronology. The acquisition is dated 2018, that is to say one year before the signing of the memorandum of understanding which marked the Italian accession to the Beijing Belt and Road Initiative. The moment of greatest closeness between Italy and China was marked with the yellow-green government. The Conte bis has already started the reverse, expanding the golden power on telecommunications by imposing a de facto ban on Chinese 5G technology. With Draghi this reversal has become even more drastic, with the golden power also used to prevent the sale of a majority stake in the Lpe, a semiconductor company from Baranzate, and that of vans Iveco to the Chinese automotive company Faw.
As reported by the Wall Street Journal, the drone affair still demonstrates the ease with which Beijing is able to circumvent labile controls on the European side towards acquisitions aimed at extrapolating sensitive and strategically interesting technologies. On the other hand, the same situation is also present in the United States. A recent report showed that the Chinese army it is strengthening in the technological and artificial intelligence fields also thanks to the indirect help of the United States itself, in particular by exploiting equipment imported from American companies. Of course technological decoupling, in short, China and the US are still much more intersected than you think. So much so that sometimes Chinese military modernization takes place using US components.
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