Chinese machinery manufacturer Sany Heavy Industry has won a lawsuit against the US government connected to its attempt to purchase a wind farm in the United States.
A US federal appeals court in Washington has ruled the US government violated the rights of Ralls Corporation, which is affiliated with Sany Heavy Industry, when it rejected the company's bid to purchase the wind-farm in Oregon.
Xiang Wenbo, president of Sany Heavy Industry, is describing the ruling as an "historic victory."
Lawyer Xia Tingkang represented Sany in the case.
"The ruling clearly tells the US government that while conducting reviews of foreign investment, you have to be able to present evidence explaining official decisions to the parties involved, so that we, the investors, can have the opportunity to clarify and confirm that evidence."
The three-judge panel has ruled "the presidential order deprived Ralls of significant property interests," constituting a clear constitutional violation.
The appeals court has now sent the case back to the lower courts, and has ordered that Ralls be provided the unclassified evidence the president relied on and be given an opportunity to respond to it.
For more on this, we are joined live with CRI's financial commentator, Cao Can.
1. What's the significance of winning the case for Sany? What did Sany win exactly?
2. What will happen next? Has the victory cleared the way for Sany to continue its purchase?
3. What impact will this case have on other Chinese companies that want to invest in the US?
