哪些中國企業會上美國貿易戰打擊清單

The Trump administration’s ambiguous plans to impose tariffs on up to $60bn in annual imports from China have left companies in the country guessing whether their products will end up on Washington’s list.

特朗普(Trump)政府擬對每年最多達600億美元的中國進口商品徵收關稅的模糊計劃，使中國企業紛紛猜測自家產品是否將出現在華盛頓的清單之上。

But behind the tariffs is what analysts consider to be a broader objective from the White House to disrupt a high-level Chinese strategy, called “Made in China 2025”, that aims to make a number of companies world leaders in sectors such as robotics, semiconductors, aviation and computing.

但分析人士認爲，這些關稅背後隱藏着白宮一個更廣泛的目標，即破壞中國一項被稱爲“中國製造2025”(Made in China 2025)的高層戰略，該戰略旨在將一批中國企業打造爲機器人、半導體、飛機制造、計算機應用等行業的世界領軍者。

A crucial element of Beijing’s development plan has been to partner with foreign companies or acquire overseas technologies that will help Chinese groups rise to global dominance in their respective industries. It is these companies the US is expected to take action against.

北京這一發展計劃的一個要點是通過與外國公司合作或者獲取海外技術，幫助中國企業崛起爲各自所在行業的全球主導者。這些企業正是美國預計將採取的行動所要針對的目標。

“Planned US tariffs and investment restrictions are meant to hit China in response to what the US sees as unfair technology and intellectual property practices,” Louis Kuijs, head of Asia for Oxford Economics, said in a note.

牛津經濟研究所(Oxford Economics)亞洲經濟部主任高路易(Louis Kuijs)在一份報告中表示：“美國計劃實施的關稅和投資限制措施意在打擊中國，以迴應美國視爲不公平的技術和知識產權做法。”

“The most important part of this seems to be to slow down the transfer of technology to China,” said Christopher Lee, S&P Global’s lead China corporate specialist.

“其中最重要的似乎是讓技術更慢向中國轉移。”標普全球(S&P Global)首席中國企業評級專家李國宜(Christopher Lee)表示。

The US Trade Representative office has named “aerospace, information and communication technology and machinery” as industries that would be targeted by tariffs. More details are expected in early April but the White House has already named a number of Chinese companies in a 200-page report as examples of how the US is losing out against “unfair” competition from China.

美國貿易代表辦公室已經把“航空航天、信息和通信技術、機械”列爲將要徵收關稅的行業。預計4月初將公佈更多細節，不過白宮已經在一份200頁的報告中提到了一些中國企業的名字，作爲來自中國的“不公平”競爭如何使美國吃虧的例證。

According to the US, these companies are among those that pose the biggest threat:

根據美方的報告，對美構成最大威脅的包括以下這些公司：

Midea Group

美的集團(Midea Group)

Although it is not owned by the state, home appliances company Midea has become central to China’s plan for building a globally competitive robotics industry. In 2016 it spent $4.2bn to buy Kuka, one of Germany’s top robotics groups.

家電製造商美的集團雖然不是國有企業，但在中國打造具有全球競爭力的機器人產業的計劃中，美的具有重要地位。2016年，美的斥資42億美元收購了德國頂尖機器人集團之一庫卡(Kuka)。

The US government views Midea as an example of a private Chinese group that appears to be carrying out several elements of Beijing’s development policy. It has received hundreds of millions of dollars in loans from policy banks to support its acquisition.

美國政府認爲美的是一個例子，它是一家中國民營企業集團，卻似乎在執行北京上述發展政策的一些方面。美的從多家政策性銀行獲得了數億美元計的貸款以支持其收購項目。

One of the lenders, China Exim Bank, said that Midea’s robotics deal would “assist in optimising the domestic robotics industry layout, promote the process of multi-industry production automation, and enhance China’s intelligent manufacturing technology level”, according to the US trade office.

根據美國貿易辦公室的說法，承貸機構之一中國進出口銀行(China Exim Bank)表示，“該項目的實施，有助於優化中國機器人產業佈局，推動多產業生產自動化進程，提升中國智造技術水平”。

ChemChina

中國化工(ChemChina)

State-owned ChemChina grabbed global attention in early 2016 when it said it would pay $44bn for Switzerland’s Syngenta, one of the world’s largest pesticide and seed groups. The deal was in line with Beijing policy to control a list of technologies for crop security and to modernise its agriculture.

2016年初，國有的中國化工宣佈將斥資440億美元收購全球最大的農藥和種子集團之一瑞士先正達(Syngenta)，此舉吸引了全世界的目光。這宗交易契合北京方面關於控制一系列技術以確保糧食安全、實現農業現代化的政策。

The trade office has taken note of how the deal, which was in part backed by state banks, brought “4,000 employees, 33 research sites, and 31 production and supply sites” in the US under the control of a conglomerate that takes orders from Beijing.

美國貿易辦公室已經注意到，這宗部分由國有銀行支持的交易已將在美國的“4000名員工、33處研究基地以及31處生產和供應基地”置於了一家聽命於北京的企業集團的控制之下。

The acquisition also brings US pesticide makers such as DowDuPont and Monsanto into direct competition with the Chinese state, making ChemChina’s new, global reach a prime target for tariffs.

這宗收購還使陶氏杜邦(DowDuPont)、孟山都(Monsanto)等美國農藥生產商陷入與中國政府的直接競爭，使中國化工將形成的遍及全球的觸手成爲美國關稅的一個主要目標。

CRRC Corp

中國中車(CRRC Corp)

CRRC, which is the world’s largest maker of rail rolling stock, and other Chinese state-owned rail groups were big beneficiaries of joint ventures with global industry leaders such as Bombardier and Siemens.

中國中車及其他中國國有鐵路集團是與龐巴迪(Bombardier)、西門子(Siemens)等全球行業領軍企業建立合資公司的主要受益者。中國中車目前是全球最大的鐵路車輛製造商。

In addition to supplying China’s fast-expanding high-speed rail and metro systems, CRRC has moved into the US market in the past few years winning contracts to supply metro trains in Boston, Chicago, Los Angeles and Philadelphia.

除了供應中國快速擴張的高速鐵路和地鐵系統，中國中車近幾年還進入了美國市場，拿下了爲波士頓、芝加哥、洛杉磯、費城供應地鐵列車的合同。

Until now, it has been exporting from China but it will soon start production at its first US factory, in Springfield, Massachusetts, in what it says is an example of “win-win” US-China co-operation.

中國中車迄今一直從中國出口產品，但該公司位於馬薩諸塞州斯普林菲爾德(Springfield)的首家美國工廠很快將開始投產。中國中車稱，該工廠是美中合作“雙贏”的一個案例。

CRRC is not named in the trade office report although the White House has pointed at tariffs on Chinese rail.

白宮把中國鐵路產品列爲關稅徵收對象，不過美國貿易辦公室的報告中倒是沒有提到中國中車的名字。

Comac and Avic

中國商飛(Comac)和中國航空工業集團(Avic)

China’s two state-owned aircraft manufacturing groups are trying to break Boeing and Airbus’s hold on the passenger aircraft market and turn China into an aviation powerhouse.

這兩家中國國有飛機制造集團正試圖打破波音(Boeing)和空客(Airbus)在客機市場上的壟斷地位，並把中國變成一個航空製造業強國。

Comac’s C919 — which is meant to rival the Boeing 737 and Airbus A320 — is still in an early testing phase and is some years off going into mass production. But analysts believe it could eventually win market share from the two dominant players, especially in China.

中國商飛意在與波音737、空客A320競爭的C919客機，仍處於早期測試階段，還需數年時間才能投入量產。但分析人士認爲，C919最終將能從這兩家主導者手中奪走市場份額，尤其是在中國。

Comac and Avic, the other state-owned group that owns a stake in Comac, have been helped in their development by a series of acquisitions of US aircraft and avionics companies, which were highlighted by the US Trade Representative in its investigation into unfair trade practices by China. Both companies considered buying part or all of Canadian jet manufacturer Bombardier.

中國航空工業集團持有中國商飛的股份。兩家公司通過對美國飛機和航電設備公司的一系列收購推動了自身發展。美國貿易代表辦公室在對中國不公平貿易做法的調查中強調了上述收購。兩家公司都考慮過部分或整體收購加拿大噴氣式飛機制造商龐巴迪。

Comac has relied on partnerships and joint ventures with US companies including GE, Honeywell and Rockwell Collins to supply key parts of the C919 including the engines, wheels and avionics.

中國商飛依靠與包括通用電氣(GE)、霍尼韋爾(Honeywell)、羅克韋爾?柯林斯公司(Rockwell Collins)在內的美國公司建立的合作和合資公司，爲C919供應包括髮動機、機輪和航電設備在內的關鍵部件。

Tsinghua Unigroup

清華紫光(Tsinghua Unigroup)

Few of China’s state-backed investors have been as aggressive as Tsinghua Unigroup in the pursuit for global semiconductor assets. The group, controlled by Tsinghua University in Beijing, was launched with the mission of bringing foreign semiconductor technology back to China by way of acquisition. The trade office report notes that it has taken on funds from China’s National IC Fund, an investment vehicle controlled directly by the country’s Ministry of Industry and Internet Technology.

在中國政府支持的投資者中，少有像清華紫光集團如此激進地在全球四處追逐半導體資產的。這個由位於北京的清華大學(Tsinghua University)控股的集團的成立使命就是通過收購把國外的半導體技術帶到中國。美國貿易辦公室的報告指出，清華紫光已經從由中國工信部直接控制的國家集成電路產業投資基金(National IC Fund)獲得了資金。

Tsinghua has tried several direct attempts to acquire prized US assets. For example, in 2015 it made a $3.8bn approach to US-based Western Digital for a 15 per cent stake, a deal that it later pulled back from after US regulators launched an investigation.

清華紫光曾多次嘗試直接收購優質美國資產。例如，2015年，該集團提出以38億美元收購美國西部數據(Western Digital) 15%的股份。但在美國監管機構發起調查後，清華紫光撤銷了這筆交易。

But Tsinghua-backed groups have also seeded a number of smaller funds with the aim of doing similar deals. Hua Capital, another entity named in the trade office report, used funds from Tsinghua to buy OmniVision, a US digital imaging company.

但清華紫光支持的集團還發起了一些規模較小、旨在進行類似收購交易的基金。另一家出現在美國貿易辦公室報告中的實體——華創投資(Hua Capital)，利用來自清華紫光的資金收購了美國數字成像公司OmniVision。

Shenzhen Beijing Genomics Institute, or BGI

華大基因(BGI)

As the world’s largest genomics organisation, BGI has attracted round after round of private equity investors willing to pay high prices for a piece of the group. The company counts Sequoia Capital as one of its main investors.

作爲全球最大的基因組學研發機構，華大基因吸引了一輪又一輪願意出高價的私募股權機構的投資。紅杉資本(Sequoia Capital)是華大基因的主要投資者之一。

In 2013, it bought Complete Genomics, a US-based group that had sequenced more than 20,000 human genomes.

2013年，華大基因收購了總部位於美國的基因組測序公司Complete Genomics，後者已經對逾2萬個人類基因組進行了測序。

Washington is worried about the Chinese state and Communist party’s interest in BGI. The report notes how it has been a big recipient of loans from policy lender China Development Bank and says that despite its private shareholding structure BGI has “evident links to the government”.

華盛頓擔心中國政府和共產黨對華大基因的興趣。上述報告指出，華大基因已經從政策性銀行中國國家開發銀行(China Development Bank)獲得了大筆貸款，並表示，雖然股權結構爲私人所有，但華大基因“與政府有明顯關聯”。