After the chinese government decided to only allow a minority foreign stake in a local construction machinery company, an official said:
"the sale of such companies to foreigners could result in China losing its technology to overseas rivals."
The Chinese government is concerned about their technology passing to others. That is doublespeak!
See article:
Carlyle backs down on size of Xugong stake
Carlyle, the US buy-out group, has bowed to Chinese political pressure and agreed to acquire a minority stake in China's biggest construction machinery maker.
It was announced at the weekend that Carlyle had signed an agreement to acquire 45 per cent of Xugong Construction Machinery, confirming a report in the Financial Times last week.
The development follows a saga that began in October 2005, when Carlyle agreed to pay $375m (€282m) for an 85 per cent stake in Xugong, whose parent is controlled by the local government of Xuzhou city, after a year-long public auction.
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