China has a unique and complex culture; successfully doing business in China requires expertise in the way the business community and government agencies' work, a thorough understanding of what makes things happen in China, and most importantly, knowledge of Chinese culture.
According to Zero2Ipo's report, China is the most active private equity market in Asia. The amount of US$14.20B was raised in 40 Asia-focused, including China, private equity (PE) funds as of Dec 31 2006.
In 2003, the Chinese government accelerated economic reforms and restarted an ambitious campaign to reform SOEs as part of the shift from a socialist"central command" to a"market" economy.
