EU Budget Chief Proposes Veto on Chinese Investments as Rome Gets Cozy With Beijing

EU Budget Chief Proposes Veto on Chinese Investments as Rome Gets Cozy With Beijing
Italian Prime Minister Giuseppe Conte shows the way to Chinese leader Xi Jinping during a welcoming ceremony upon Xi Jinping's arrival for their meeting at Villa Madama in Rome on March 23, 2019. Alberto Pizzoli/AFP/Getty Images
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BRUSSELS—Brussels’ budget chief has proposed an EU veto on future Chinese investments in Europe amid growing alarm among officials and leaders about Beijing’s financial influence on the continent.

European Commissioner for Budget Günther Oettinger floated the idea as some member states expressed extreme concern about G-7 member Italy striking a deal with China on funding from its One Belt, One Road initiative, Beijing’s ambitious infrastructure plan that spans continents.