The Evolution of the Italian Approach to Chinese Foreign Investments: A Review of the Screening of Four Technology-Related Investments

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Authors: Niky Brugnatelli, Silvano Poli
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Abstract

This article examines how Italy's approach to Chinese foreign investment, particularly in technology-related sectors, has evolved through the lens of its Golden Power framework. It traces the shift from an initially welcoming stance, driven by economic opportunities and the Belt and Road Initiative, to a more cautious and restrictive policy influenced by national security concerns, EU regulations and pressure from the United States. Four post-Covid-19 case studies (LPE, Verisem, Pirelli and Ferretti) are analysed to illustrate the expansion of the Golden Power regime in terms of its objectives, scope and procedures. The findings reveal a deliberate politicization of investment governance, with strategic and security considerations being given greater priority than economic incentives. The article concludes by discussing the implications of this recalibration for Italy's geo-economic strategy and the geopolitical consequences of the new investment screening mechanism.

Fields of Study & Subjects

International Arbitration and Investment Law State Capitalism and Financial Governance International Business and FDI

Publication details

Journal / source
Italian Political Science
Publication date
1 February 2026
Language
EN