New Delhi, May 8 Italy’s parliamentary intelligence committee, Copasir, is preparing a new inquiry into Chinese investment in the Italian economy, primarily focusing on strategic assets and high‑tech start‑ups, a report has said.
The probe that expected to begin in May will comprise long hearings with experts, economists, business representatives and signals renewed concern in Rome over Beijing’s economic footprint, Italy-based media house Decode 39 said in a report.
Copasir had done a similar investigation seven years back that concentrated on China’s role in mobile networks and 5G infrastructure, and the new investigation will be of a wider scope.
Under new committee chair Lorenzo Guerini, Copasir plans to deliver a detailed report to Parliament within a few months, people familiar with the matter told the media house.
"Chinese stakes in key sectors of the Italian economy remain a source of national security concern, especially where infrastructure, technology and access to sensitive markets are involved," the report said.
The report said that Rome is increasingly concerned about small, high-potential technology startups being exposed to predatory investment strategies that target know-how, patents and industrial secrets of these companies.
"Several high-profile files have helped push the China question back to the top of the security agenda," the report said.
Italian tyre manufacturer Pirelli has recently been in news for adjusting its operational structure in the US market, following Italian government's "golden power" restrictions that impacted the influence of its largest shareholder, Sinochem, a state-owned Chinese company.
Further, a shareholder dispute at yacht maker Ferretti, owned by China’s Weichai Group has triggered political attention in Rome.
The report also highlighted the timing of the enquiry as Copasir is expected to travel to the United States by mid-May for institutional meetings.
Rome’s China policy also must be read in relation to Zewei Xu, the 33-year-old Chinese engineer arrested at Milan Malpensa on a US warrant on espionage charges and later extradited to the United States.
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