Italian PM Draghi says no to a Chinese firm technology transfer deal with robotics company

Beijing-based Efort Intelligent Equipment wanted to increase its stake in an Italian high-tech company, Robox.

• Italian Prime Minister Draghi vetoed the technology transfer deal. It’s the fifth China-related veto with Mario Draghi as PM.

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• Draghi’s government has exercised its “Golden Power” with regards to a prospective deal between ROBOX, an Italian company based in Novara, and Efort Intelligent Equipment, a Chinese leader in robotics with links to the Beijing government. The latter aimed to increase its shares of the former and strike a technology transfer agreement. The government greenlit the share increase, but vetoed the technology transfer agreement.

Prior to being Italian PM Draghi was the President of the European Central Bank European Central Bank The European Central Bank (ECB) represents the central banking entity in the Eurozone that oversees monetary policy for the bloc. As a growing geographic and economic region, the eurozone now includes 19 countries, which rely on the euro as their national currency.The eurozone presently consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.In terms of monetary The European Central Bank (ECB) represents the central banking entity in the Eurozone that oversees monetary policy for the bloc. As a growing geographic and economic region, the eurozone now includes 19 countries, which rely on the euro as their national currency.The eurozone presently consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.In terms of monetary Read this Term