Alternative au financement bancaire, l’industrie du capital investissement est en plein essor en Chine. En 2008, les sociétés et fonds de Capital Investissement chinois et étrangers ont levé 14,4 milliards $ contre seulement 7,3 milliards $ en 2007.

La plupart des transactions prennent la forme de prise de participation (capital-développement) et il s’agit rarement d’acquisition (buy-out). En effet, le Private Equity s’ancre dans une logique de « pré-IPO » en Chine, ou les cas de Public-to-Private, fréquents dans les marchés matures, font figure d’exception. En 2008, comme pour les années précédentes, les plus grosses opérations ont été réalisées dans les secteurs du BTP/Real Estate, de l’énergie, de l’IT, des produits pharmaceutiques et des industries manufacturières. On note également une nette progression du nombre d’opérations dans les services et les clean tech. Ces deux secteurs représentaient respectivement 23% et 10 % du montant total des investissements en 2008. Géographiquement, trois municipalités-provinces attirent aujourd’hui la majorité des transactions: Shanghai, Beijing et Tianjin.

Read more: Le Capital Investissement en Chine

Although China’s economy continues to flourish and the country is set to become the second biggest consumer of luxury goods by 2015, counterfeiting remains at epidemic levels and cause serious economic harm to luxury brands. The Chinese government, to its credit, recognizes the problem. Since its accession to the WTO in 2001, China has adopted various laws to protect IP and from now on comply with international standards. But not enough had been done. Significant problems still exist with enforcement of such laws and since the mid-1990s, the Chinese authorities have been playing a cat and mouse game with counterfeiters. Luxury brand companies such as Louis Vuitton, Bally, Gucci and Ferragamo have been investing in the Chinese market, but today not too many of them are making a handsome profit in China. The Chinese mainland luxury market is still in its formative stage even if it clearly presents tremendous opportunities.

The present research paper investigates a range of conceptual and empirical issues surrounding counterfeiting of luxury products in China, to explore how much is understood about the magnitude and nature of the phenomena. It also proposes possible enforcement strategies to help luxury companies successfully protect their intellectual property rights.

Attachments:

Research_Study_-_China_the_Kingdom_of_luxury_fakes_-_Cfagon.pdf

Read more: China : the kingdom of luxury fakes