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Britain must lead by example and not play the same game as China

Britain must lead by example and not play the same game as China
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MPs raise alarm as Chinese private equity sets its sights on UK tech

But there are now added fears that the Covid crisis – which has wiped billions off the value of UK companies – could trigger a wave of attempts by Chinese private equity firms and other predators to pounce on cutting-edge groups on the cheap. This could lead to a brain drain with highly skilled British jobs and intellectual property flowing overseas. Conservative MP Bob Seely, who sits on the Commons foreign affairs committee, said: There is a problem with private equity anyway but we ve got to be wiser to what s happening when it s a Chinese firm. When it comes to buying up sensitive technologies, because China is a one-party state you have to wonder what the motives are – this can effectively be a surreptitious tech transfer.

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British MPs Led By Former Conservative Party Leader Iain Smith Urge Government To Block Acquisition Of Country s Largest Chip Plant By Chinese Company

British MPs Led By Former Conservative Party Leader Iain Smith Urge Government To Block Acquisition Of Country s Largest Chip Plant By Chinese Company by Swarajya Staff - Jul 19, 2021 04:10 AM Iain Duncan Smith Snapshot Iain Duncan Smith, a member of parliament and the former leader of the Conservative Party has said that the United Kingdom government should have moved to block the purchase of Newport Wafer Fab, the country s largest computer chip plant by Nexperia, a Chinese-owned company. Duncan Smith urged the government to use the newly-enactedNational Security and Investment Bill to block the Newport Wafer Fab acquisition. Prime Minister Boris Johnson said the deal will be subject to a review by national security adviser.

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MPs raise alarm as Chinese private equity sets its sights on UK tech

MPs raise alarm as Chinese private equity sets its sights on UK tech
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United kingdomCity ofBob seelyDrew nelsonMatthew byattGerald howarthStephen lovegroveBoris johnsonImagination technologiesBusiness departmentSumo groupNational securityMinistry of defenceWale newport wafer fabNewport wafer fabWise road

China Is Buying Up Chip Firms in a Push for Semiconductor Supremacy, Says UK Lawmaker

China Is Buying Up Chip Firms in a Push for Semiconductor Supremacy, Says UK Lawmaker
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