This book analyzes the specifics of corporate governance of China’s State Owned Enterprises (SOEs) and their assessment under EU merger control, which is reflected in the EU Commission’s screening of the notified economic concentrations.
Guided by the going global policy and the Belt and Road Initiative, Chinese SOEs have expanded their global presence considerably. Driven by the need to acquire cutting edge technologies and other industrial policy considerations, Chinese SOEs have engaged in a series of corporate acquisitions in Europe. The main objective of this book is to demonstrate the conceptual and regulatory challenges of applying traditional merger assessment tools in cases involving Chinese SOEs due to the specifics in their corporate governance and the regulatory framework under which they operate in China. The book also explores the connection between the challenges experienced by the merger control regimes in the EU and the recent introduction of the EU foreign direct investment screening framework followed by a proposal concerning foreign subsidies.
The book will be a useful guide for academics and researchers in the fields of law, international relations, political science, and political economy; legal practitioners dealing with cross-border mergers and acquisitions; national competition authorities and other public bodies carrying out merger control; policy makers, government officials, and diplomats in China and the EU engaged in bilateral economic relations.
Table of Contents
Chapter I State Owned Enterprises under the EU Merger Control
Chapter II China’s State Owned Enterprises: Governance and Regulation
Chapter III Economic Concentrations of China’s State Owned Enterprises under the EU Merger Control Regime
Chapter IV From Merger Control to Foreign Investment Screening in the European Union
Alexandr Svetlicinii is an associate professor at the University of Macau, Faculty of Law, where he also serves as Programme Coordinator of the Master of International Business Law in English Language. Prior to joining the University of Macau, Dr. Svetlicinii was a senior researcher at the Jean Monnet Chair of European Law at the Tallinn Law School, Tallinn University of Technology in Estonia. In addition to his academic work, Dr. Svetlicinii served as the Non-Governmental Advisor to the International Competition Network (working group Mergers) and acted as a consultant in a number of research projects of the European Commission.
"Svetlicinii has produced a clear and compact study that will be of interest to anyone concerned with state capitalism and European economic law. It provides a good overview of EU merger control and state capitalist structures in China, as well as the current developments in the EU...the book thus provides a very good basis for practical advice, but also for further academic research in this area."
(Philipp Reinhold, European Competition Law Review.)
"In Chinese State Owned Enterprises and EU Merger Control, Alexandr Svetlicinii provides us with a well-written, well-structured, well-researched and, above all, a timely guide on the issue, whose particular challenges will undoubtedly contribute to its enormous relevance, especially to legal practitioners, national competition authorities, policymakers and government officials."
(Marta Teixeira Pires, Market and Competition Law Review.)
"With the expansion of China’s "going out" strategy, Chinese SOEs and their overseas investments are playing an ever-increasing role in this process. The book comes under this context and offers valuable insight into the relevant rules in the dimension of the EU. It is a must-read for researchers, legal practitioners and government officials who would like to have an in-depth understanding of the topic. Not only that, it can be a very useful resource for anyone interested in EU–China economic relations."
(Zhijin Liu, Concurrences.)
"Svetlicinii has produced a well-researched, detailed yet succinct work on the treatment of Chinese SOEs under EU law, uniquely from the perspective of both EU and Chinese law. The added value of his work in particular lies in the combined approach of the subject from the perspective of both spheres of law and the impressive degree of systematic analysis." (Jochem de Kok, EU Law Live.)
"Throughout the book the author engages in an analysis of the effort of the Commission to square the circle of State Owned Enterprises (‘SOE’) using EU competition law rules - An effort which puts face to face different systems of governance, approaches to markets and economic perspectives. The book is an excellent contribution to an important debate, addressing yet another way in which competition policy should and perhaps must evolve in order to meet current challenges." (Alexandru Circiumaru, EUPLANT Blog, Queen Mary University of London.)
"This book will be of interest, particularly to scholars and researchers in the field of international economic law, corporate governance, competition law; legal practitioners dealing with foreign investment and cross-border mergers and acquisitions; policymakers designing and considering high-quality regulation on market participants, either private companies or SOEs; investors, especially SOEs seeking better compliance programs in the host State." (Wei Yin, Nordic Journal of European Law.)
"Svetlicinii excellently analyses the specific characters of China’s SOEs. Taking into account the significance of these specifics, their corporate governance, as well as the legal regimes in which they operate in China, he identifies a comprehensive set of conceptual and regulatory challenges arising from applying traditional merger legal assessment instruments in cases that involve Chinese SOEs." (I-Ju Chen, Chinese Journal of Comparative Law.)
"Through a succinct, yet detailed and accurate analysis of both legal provisions and related practice, Alexandr Svetlicinii offers an objective account of a highly debated topic. This makes the book of interest to both legal scholars and practitioners wishing to acquire a comprehensive and detailed knowledge on issues related to Chinese SOEs and on how they are dealt with under the current EU legal framework." (Anna Panarella, World Competition Law and Economics Review.)
"The comprehensiveness of the coverage of the relevant developments makes the work particularly commendable. Svetlicinii leaves no stone unturned in his assessment. For this reason, the book is a unique reference source and compulsory reading for anyone with an interest in the area." (Sandra Marco Colino, European Law Review.)
"This book is a meticulous demonstration of a problem that is frequently raised in the current public discourse but without identifying its contours. Alexandr Svetlicinii has managed to identify and connect various factors internal to the Chinese economy with the possible risks of anti-competitive distortions the EU internal market." (Rafik Rabia, Yearbook of Antitrust and Regulatory Studies.)