"Several years ago, Caterpillar attempted to acquire at low price Xuzhou Construction Machinery Group the large SOE and leader of China's construction equipment industry. The move was met with strong opposition from the public. SANY, as a private enterprise, proposed, 'if you are determined to sell it, please sell to me!' This is what a real Chinese private enterprise does, which I define as the "Evolution from a private enterprise to a national enterprise."This is quoted from an article Why China's Bill Gates Not Valued by Yang Fan, Professor of China University of Political Science and Law, recently published in Global Times.
Yang commented, there is a growing number of hi-tech enterprises in China; however, most people hold to the American story while ignore what is really happening at home. For instance, in 1970s, people did not believe that China was capable of making 150 jet passenger planes and the plan was crippled by America with their so-called "Technical Cooperation"; today would it occur to you that SANY, a Chinese enterprise with 3,000 technical engineers in house, would be able to compete with, even get ahead of the industry leaders in Germany, America as well as large Chinese SOEs.
He suggested that it is perfect timing for Chinese enterprises to go out to acquire competitors, control resources and expand market. We can expect, with the right strategy, after years China will catch up with Europe and Japan in industry clusters created in the third industrial revolution and then race with America in the fourth industrial revolution.
