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.
