Economy

SMEs: Association warns of Chinese takeovers in Corona

  • Large sections of small and medium-sized businesses are threatened with bankruptcy as a result of the Corona crisis, the Federal Association of Small and Medium-Sized Businesses warns.
  • President Mario Ohoven demands: “We therefore have to prevent the takeover of companies that are weakened by the crisis by investors who are only interested in quick profits.”
  • He is particularly suspicious of one country: China.

The Federal Association of Small and Medium-Sized Businesses warned of “bargain hunters” from China in the Corona crisis. President Mario Ohoven called for a temporary takeover moratorium on the European Union.

Ohoven told the German press agency: “As a result of the corona crisis, large parts of German small and medium-sized businesses are threatened with bankruptcy. We therefore have to prevent the takeover of companies that are weakened by the crisis by investors who are only interested in quick profits. ”

Europe should no longer act as a “toothless tiger”, warns Ohoven

The federal government must act immediately. “To protect medium-sized companies and their employees from being sold, particularly to Chinese bargain hunters, a temporary takeover moratorium on the European Union is urgently needed.”

Only a Europe-wide ban on takeovers of companies from the EU by Chinese companies could maintain the competitiveness, resilience and innovative ability of medium-sized companies.

As long as China does not accept competition on an equal footing with equal rights and obligations for everyone involved, Europe must not continue to act as a “toothless tiger”, said Ohoven. He is also President of the European Entrepreneurs Association CEA-PME.

The federal government had taken steps at the national level and tightened the foreign trade regulation. The cabinet decided to change it on Wednesday. According to this, companies that manufacture medicines and vaccines “Made in German” should be better protected against takeovers by investors from non-EU countries.

6 figures that show the extent of the corona crisis for the German economy

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