German and Chinese Contributions to Digitalization : Opportunities, Challenges, and Impacts

Digitalization is one of the biggest challenges of the 21st Century. In Germany, the concept of Industry 4.0 goes back to the high-tech strategy of the Federal Government and describes the interlocking of industrial production with the latest information and communication technology. In the intelligent factory, intelligent and networked machines will operate, decide and optimize largely autonomously in cooperation with humans. For China, the German concept Industry 4.0 is a strategic source of inspiration. Among other things, it was a model for the current Chinese innovation and industrial policy strategy Made in China 2025. This book is looking into different aspects of digitalization. Part 1 presents the concept of Industry 4.0, both, from the German and the Chinese perspective. Part 2 describes the Chinese innovation concept Made in China 2025 within different economic sectors in China and discusses to what extent Industry 4.0 might be considered its role model. Part 3 presents the opportunities and challenges of digitalization and big data from a regional perspective. Part 4 analyses the special aspect of the impacts of digitalization for the banking sector and international trade cooperation. Finally, Part 5 focuses on digitalization and innovation considering small and medium-sized companies in particular. Contents Industry 4.0 Made in China 2025 Digitalization, Big Data and Regional Aspects Digitalization, the Financial Sector and International Trade Cooperation Digitalization and Innovation The Editors Andreas Oberheitmann is professor of business administration and international management at FOM University of Applied Sciences and its German-Sino School of Business &Technology respectively, and scientific director of the German-Sino Competence Center of Business & Technology (KCBT). Thomas Heupel is professor of business administration, with a focus on cost accounting and controlling, and vice rector of research at FOM University of Applied Sciences in Essen, Germany. Yang Junqing is professor of economics and vice president of Shanxi University of Finance & Economics in Shanxi Province, China. Wang Zhenlin is professor of crop science and vice president of Shandong Agricultural University in Shandong, China. .