Commission drafts new rules targeting foreign state aid

The EU Commission proposed new rules on Wednesday (5 May) to prevent companies which receive foreign subsidies from buying up other firms or participating in public tenders, if the non-EU state aid distorts competition.

The proposal comes as the EU is seeking to better control Chinese forays into the European economy - although the proposal does not mention China by name - and wants to assert its "strategic autonomy" from China and the US.

"We want every company that operates in...