Chinan state-owned diesel-engine maker, owned by a provincial government. In 2012 Weichai bought out Ferretti, a sinking Italian luxury yacht-maker, at the start of a wave of global Chinese mergers and acquisitions that culminated in 2016 with more than $200bn-worth of deals. Weichai still holds nearly 40% of Ferretti and is locked in a fight for control with KKCG, a Czech investment group. Both the Communist Party and Western governments have grown suspicious of vast amounts of capital leaving China; in April 2026 SASAC, the body that manages Chinese state-run companies, set up an overseas bureau to keep a closer eye on what firms are doing abroad.
We are so fond of each other because our ailments are the same.