Is China Systematically Buying Up Key Technologies? Chinese M & A transactions in Germany in the context of “Made in China 2025”. Bertelsmann Stiftung GED Study 2018

“Made in China 2025” (MIC 2025) is the Chinese central government’s main industrial policy strategy aimed at turning China into the global leader of the fourth industrial revolution. Chinese M & A transactions abroad explicitly belong to the instruments for implementing MIC 2025. Germany is an attractive location for Chinese M & A transactions and offers tailor-made know-how for MIC 2025 due to its large number of “hidden champions”, i. e. technological world market leaders in highly specialized niches. 64 percent or 112 of the 175 analyzed Chinese M & A transactions with a share of at least ten percent in German companies between 2014 and 2017 percent can be assigned to one of the ten key sectors in which China aims to assume global technology leadership with the help of MIC 2025. On the one hand, there is a clear focus on the MIC 2025 sectors of “energy-saving and new-energy vehicles”, “electrical equipment” and “high-end numerical control machinery and robotics” – i. e. sectors in which Germany can in part demonstrate significant competitive technological advantages. Even before the introduction of MIC 2025 in 2015, however, these sectors were already a focus of interest for Chinese investors in Germany. On the other hand, key sectors that played little or no role for Chinese M & A transactions in Germany have also become increasingly important since the introduction of MIC 2025. This is particularly evident in the MIC 2025 sector of “biomedicine and high-performance medical devices”. The majority of the 112 Chinese M & A transactions (just under 60 percent) that are relevant for MIC 2025 are distributed across only three German states: Baden-Württemberg (26), North Rhine-Westphalia (22) and Bavaria (18) – the very regions in which the majority of the German “hidden champions” are located. State-owned investors make up 18 percent of the Chinese M & A transactions examined, and are therefore a minority. However, taking into account only the M & A transactions that can be assigned to the MIC 2025 sectors, their share rises to around 22 percent – a possible indication of state stakeholders’ greater interest in acquiring know-how abroad for the implementation of MIC 2025. However, the formal type of ownership of Chinese companies does not show the full picture of potential state influence due to the complex interplay between the state and companies in China. Therefore, the great challenge for Germany consists in the forms of state influence that are not or only insufficiently reflected in the majority ownership type of Chinese investors

Hans Sachs’ Tristrant : farce, tragedy or serious doctrine?

When at the end of Hans Sachs' tragedy of Tristrant, dated February 7th, 1553, the herold takes the floor, he calls to the audience to recognize that this is a tragedy, Auß der wird offentlich erkendt, Wie solche unorndliche lieb Hat so ein starck mechtigen trieb, Wo sie einnimbt ein junges hertz Mit bitter angst, senenden schmertz, Darinn sie also heftig wüt, Verkert hertz, sin, vernunft und gmüt, Wird leichtfertig, verwegen gantz, Schlecht seel, lieb, ehr, gut in die schantz, Acht fürbas weder sitten noch tugent, (184,32-185,3) (1) ...

A study to determine whether trust and confidence of patients in nursing personnel is related to the color of the uniform of personnel

Thesis (M.S.)--Boston Universit

Interpreter of maladies: a commonplace for cultures

Imagine living a double life – being pulled in all different directions, between your past and your present, your family and your friends, your two different cultures. Jhumpa Lahiri knows that double existence and shows individuals living it in her book Interpreter of Maladies. Interpreter of Maladies is a collection of short stories that focuses on Indian and American cultures and the people who get caught between the two

The correlation of secondary school records with college records

Thesis (M.A.)--Boston Universit

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Evaluating the Success of the School Commodity Food Program

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