[China Blocks SoftBank's Acquisition of ABB's Robotics Business] Golden Finance reports that on November 6th, China halted SoftBank's $5.4 billion acquisition of ABB's robotics business, dealing a blow to the global technology investment giant. Currently, the Chinese government is tightening controls on the export of high-value technologies to overseas competitors. Zurich-based ABB stated on Thursday that SoftBank informed it of the decision made by a Chinese government department responsible for reviewing foreign investment. China is ABB's largest market for its robotics business, therefore the deal required Chinese government approval. The Chinese government's decision to block SoftBank's deal sends a signal that China does not want ABB's expertise and technology developed in China to benefit its competitors, especially those based in Japan, a US ally.