China is the largest state-based threat to the British economy.
This is according to the United Kingdom Deputy Prime Minister, Oliver Dowden, who was speaking to the BBC.
This comes as data shows that the British government intervened in eight attempted takeovers of British firms by Chinese buyers.
Said Dowden: ‘I’m very clear that I do not want us to decouple from China, I don’t think it’s in our interest. But at the same time, we have to be clear-eyed about protecting our national security, just in the same way that the Chinese are.’
A 2021 law allows the government to intervene in investments which are deemed a security risk, through blocking purchases or imposing other remedies.
Chinese companies have been increasingly targeted by regulators around the world, amidst concerns that Chinese companies and investors are often fronts for the Chinese government.