Chinese home appliance maker Midea Group has made an offer on Wednesday to buy German factory robot manufacturer Kuka. This is the latest in a series of German industrial groups to be targeted by Chinese buyers, as China makes a move to shift from a low-cost factory location to a high-tech manufacturing hub.

Nissan Motor has agreed to purchase a 34 percent stake in Mitsubishi Motors, taking control of 237.4 billion yen (US$2.2 billion) in shares to become the largest shareholder — just over a third — in Mitsubishi.