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Rush of Chinese Investment in Europeĺs High Tech Firms is Raising Eyebrows

  

After a customer canceled a large order at the last minute, shares in Aixtron, a German high-tech company, sank fast. Months later, with the stock still reeling, a Chinese investor agreed to buy the company. If only it were as simple as smart deal making.
 
Financial filings and public statements indicate a web of relationships among the customer, the buyer and the Chinese state. The links highlight the blurred lines between increasingly acquisitive Chinese companies and Beijingĺs long term industrial policy.
 
Chinese leaders have made clear their intention of using state funds to acquire technological capabilities overseas and bring them home, and a series of purchases in recent years have highlighted that strategy.
 
That has led to questions about how to treat bids that cross between private investment and state orchestrated takeovers. It has also fed into broader suspicions about the fate of the takeover targets, and whether national champions will ultimately be absorbed into the supply chain in China.
 

 
 

 

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