中国企业在欧洲的国际化战略外文翻译.docVIP

外文翻译 原文 Internationalization strategy of Chinese companies in Europe Material Source:The netherlands / Delft University Author:Ying Zhang Sweger Filippov Abstract: Since end of the 1990s, the world has been witnessing a phenomenon of internationalisation of Chinese companies. This internationalisation is often understood through FDI inflows, whereby multinational companies establish their presence in a form of subsidiaries overseas. However, lately many companies (and Chinese firms in particular) started to use strategic alliances and MAs as a pair of tools of internationalisation. Despite the growing body of literature on this topic in the context of advanced western economies, use of strategic alliances in the internationalisation of Chinese firms remains an underresearched topic. In the paper we investigate the potential benefits for Chinese companies to internationalise through strategic alliances and MAs, and specifically in comparison to the traditional forms of outward FDI. By using the data from Thomson SDC database, we specifically focus on the Single European market as a new prospective location for Chinese companies and provide a quantitative overview of Chinese firms’alliances as well as MAs in Europe. To illustrate the optimal pattern of internalisation of Chinese firms in Europe, we additionally use a case study of Chinese automotive manufacturer Chery Automobile Co. Ltd. Keywords: strategic alliances, emerging economies, China, Europe, internationalisation 1. Introduction China’s spectacular economic growth and unprecedented success in attracting inward foreign direct investment (FDI) has drawn much attention of both academic scholars and policy-makers alike. As China becomes a hotspot of global market, Chinese domestic companies are increasingly internationalized by establishing a network of subsidiaries abroad. The internationalisation started by entering less-developed economies, particularly the neighbouring Asian ones. Since recently, Chines