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s China practice. He adds that Chinese buyers are interested in some key areas identified in the 13th Five Year Plan for 2016- 2020, including healthcare and e-health, clean energy, high-end robotics, next generation information technology, agriculture, new materials and the internet of things. Stephen Kitts, the Asia managing partner at Eversheds, has seen many Chinese outbound technology investments motivated by the investors'

desire to ultimately enhance their position in the Chinese market. A successful strategy for the Chinese tech sector has been to '

invest to learn'

, rather than seeking to grab market share in terri- tories that they don'

t know much about, says Kitts. This strategy appears to be increasingly the norm in the tech industry, with Chi- nese companies making investments to soak up strategic technol- ogies, talent and brands that they can then take home. David Lee, a partner at Latham &

Watkins in Orange County, California, says, Chinese buyers are looking for assets in the tech- nology sector that help them move upstream in the value chain, STEPHEN KITTS 安睿律师事务所 亚洲管理合伙人 Asia Managing Partner Eversheds 中国技术产业的领军人物往往比较年轻, 更适应国际市场 Chinese technology leaders tend to be younger and more in tune with the international market

27 CBLJ ? SEPTEMBER 2016? |? 年月from mere manufacturers of technology products, to capture a greater portion of the value in these products. He has seen Chi- nese companies often acquire a brand-name technology product that is entirely made in China, but marketed, designed, distributed and branded in the US. Lee notes two recently inked deals: Chinese online video firm LeEco'

s purchase of VIZIO, a US developer of consumer electron- ics, and Apex Technology'

s acquisition of Lexmark International, an American developer of printers. Both involved consumer products in the tech sector that were manufactured in China, but the consumer-oriented trademark created a significant barrier to entry for the Chinese manufactur- ers, he remarks. By acquiring the US company, the Chinese buyer was able to capture the value-added brand name, marketing exper- tise and design expertise held by the US target. The increase in Chinese overseas tech investment will prob- ably continue. Many outbound tech investors are private firms, and investment regulations for private companies is looser than ever in China , says Kitts. Also, compared with executives in other industries, Chinese technology leaders tend to be younger and more in tune with the international market, he says. This dynamism, combined with foreign companies being more receptive than ever to Chinese capital, means investment activity is set to continue to increase. SEEKING TECHNOLOGY Chinese buyers are more actively participating in bidding for tech-intensive targets around the world, and America, the world'

s tech powerhouse, is just one attractive destination. InSouthKorea,Chineseinvestorsareincreasinglyinterestedinin- ternet information companies developing games and social network platforms, and entertainment companies producing animations, says Eun Hyun-ho, a partner in the Seoul office of Kim &

Chang. Eun has also witnessed more Chinese interest in South Korea'

s manufacturing industries. For instance, Konka Group participated in a bid for Woongjin Coway, a water purifier manufacturer, and there were news media reports indicating that Chinese investors were in- terested in acquiring Pantech, a mobile phone manufacturer, he says. Israel is the tech leader in the Middle East. Hanan Haviv, a part- ner at Herzog Fox &