EU regulators open foreign subsidies investigation into China's Nuctech
By Foo Yun Chee
BRUSSELS, Dec 11 (Reuters) - EU regulators opened on Thursday an investigation into Nuctech on concerns that the Chinese security firm may have been granted foreign subsidies that may have boosted its competitive position in Europe to the disadvantage of rivals.
The move by the European Commission followed dawn raids on Nuctech's offices in Poland and the Netherlands in April last year, the first under the EU's Foreign Subsidies Regulation,
The EU executive singled out a number of measures granted by China to Nuctech that may be considered as foreign subsidies.
It said the possible foreign subsidies could be grants, preferential tax measures and preferential financing in the form of loans.
Nuctech has denied receiving Chinese state subsidies.
The company makes body and luggage scanners for airports and ports in more than 170 countries and it was among Chinese tech companies blacklisted by the U.S. government in 2020, which had said that those companies were security threats.
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