Why it matters: The move signals renewed concern in Rome over Beijing’s economic footprint, at a time when Italy has tightened its use of golden power rules and formally distanced itself from China’s Belt and Road Initiative.
- Nearly seven years after Copasir, Italy’s Parliamentary Committee for the Security of the Republic, wrapped up its first major probe into Chinese investments, the committee is ready to revisit the issue.
- Back then, under former chair Raffaele Volpi, the focus was largely on China’s advance into mobile networks and 5G infrastructure. Now, under the leadership of Lorenzo Guerini, Palazzo San Macuto is preparing to reopen the China dossier — this time with a broader mandate. The inquiry is expected to begin in May and include a long cycle of hearings with experts, economists and business representatives. The goal, according to people familiar with the matter, is to deliver a detailed report to Parliament within a few months.
The big picture: The committee’s work is expected to focus on two main areas:
- Strategic assets. Chinese stakes in key sectors of the Italian economy remain a source of national security concern, especially where infrastructure, technology and access to sensitive markets are involved.
- Startups. Rome is increasingly worried that small, high-potential technology companies may be exposed to predatory investment strategies aimed at acquiring know-how, patents and industrial secrets.
Between the lines: Italian officials and lawmakers have long feared that some Chinese-backed investments are less about integration into the local economy and more about extracting technology and transferring it back to China.
- Several high-profile files have helped push the China question back to the top of the security agenda.
- Pirelli. The presence of Chinese shareholder Sinochem raised concerns over the company’s governance and its access to the U.S. market. The Italian government used golden power measures to limit the influence of the Chinese investor and protect the company’s strategic value.
- Ferretti. The yachtmaker, owned by China’s Weichai Group, is now at the center of a dispute between majority and minority shareholders. The case has triggered political attention in Rome.
- Cdp Reti. Older concerns also remain unresolved, including Chinese-linked holdings in entities tied to Italy’s strategic energy infrastructure.
The political perspective. Ferretti has now landed in Parliament. Alberto Gusmeroli, a lawmaker from Matteo Salvini’s League, has filed a question in the Chamber’s Productive Activities Committee to Business Minister Adolfo Urso.
- The question: what urgent steps does the government intend to take to protect Ferretti’s industrial and technological assets – including whether it might use special powers, as it did in the Pirelli case.
The transatlantic context. The renewed scrutiny comes as Copasir is expected to travel to the United States in the second half of May for institutional meetings.
- That timing matters. Rome’s China policy is increasingly being read through a transatlantic lens, especially after the case of Zewei Xu, the 33-year-old Chinese engineer arrested at Milan Malpensa on a U.S. warrant on espionage charges and later extradited to the United States.
What to watch: Whether the new Copasir inquiry leads to tougher recommendations on Chinese investments, broader use of golden power, or a more systematic screening of Beijing-linked capital in Italy’s startup and strategic technology sectors.
