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Acquisitions threaten Chinese innovation
April 11, 2006
Efforts of Chinese firms to become more creative could suffer setbacks because of the acquisition of promising local companies by multinational investors. That's a fear cited by Li Deshui, former commissioner of China's National Bureau of Statistics. China Daily reports that Li told the National People's Congress, "If China lets multinationals' malicious mergers and acquisitions go ahead freely, China can only act as labor in the global supply chain," adding that innovation, key technologies, and high-added-value capabilities could become the exclusive domain of multinationals.
Posted by Rick Nelson on April 11, 2006 | Comments (0)
