China Says UK Abused State Power to Overturn Chip Factory Deal
- UK ordered Wingtech to sell chip facility acquired last year
- Chinese-owned company said it will appeal the decision
This article is for subscribers only.
China said the UK overstepped its authority and violated Nexperia Holding BV’s rights when the government decided to reverse the company’s takeover of a Welsh semiconductor factory.
“The UK has overstretched the concept of national security and abused state power to directly interfere in a Chinese company’s normal investment cooperation in Britain,” Chinese Foreign Ministry spokeswoman Mao Ning told reporters at a regular press briefing on Friday. “This violates the lawful rights and interests of the company concerned and the market economy principles and international trade rules which has long claimed itself to be a champion of.”