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estments into Research and Development in order to improve its technological capabilities and add some innovative idea to its product. In 1994 and 1995, Hyundai had developed Accent and Avante respectively both designed and developed completely by Hyundai (Kim, 1998).

Chinese Heavy Metal and High-Tech Industry

China has had huge industrial and economic development since the initiation of the “open door” policy in December 1978. China is known to export a number of products to a number of countries around the world. China, like many other Asian countries has the low cost labour advantage. As a result a fast growth in export of low technology labour intensive products was observed. Chinese government later set up policies to shift from low technology labour intensive work to advanced technology work. They encouraged Foreign Direct Investment especially in the form of joint ventures, so as to increase technology transfer from developed countries. The government also set up SEZ's (Special Economic Zones) that provided favourable conditions for foreign firms. After attracting considerable FDI, policy amendments were made to ensure that capabilities development is pursued by firms. In the high-tech industry, China has shown excellent performance in telecommunications equipment and automatic data processing equipment.

Automobile Steel and Machine Tool sectors

In the 1980's, municipal authorities supported the existing enterprises. While the demand was growing, the markets were kept protected, so as to avoid any competition from outside. In the automobile sector, foreign joint ventures have been the most important source of know how and Chinese companies are looking to develop their technical capabilities through this. The automotive industry of China is still at low level of the late industrialization model. The two well-known automobile firms, Beijing Benz and Tianjin FAW Xiali are still highly dependent on foreign technologies and have minimal innovating capabilities at this stage. Tianjin FAW Xiali is looking forward to a joint venture with Toyota to further enhance its capabilities (Vaidya et al, 2007).

The steel sector is a very fast growing sector in China. China has seen good exports in this sector. The sector has the suppliers as main source of technology. TPCO has already attained capabilities comparable to international standards. Sho is also engaged in setting up a large industrial estate with more advanced facilities and equipments. What the Chinese steel manufacturers lack is that they still have to depend on foreign suppliers for high tech equipments and are thus looking to engage in collaboration with foreign partners (Vaidya et al, 2007).

In the machine tool sector, know how could be gained from number of sources like equipment suppliers, licensed production, joint ventures and co-production. Beijing No 1 is engaged in joint ventures as well as co-production to improve its know how. It also acquired Coburg, a German Company. Considering the reputation of Germans in manufacturing, it was evident that Beijing No 1 could make use of its German subsidiaries know how to improve its production capabilities. The machine tool industry can be said to be between level 2 本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。