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China is the second-largest economy in the world, and it stands poised to become the largest. China s geopolitical power is also developing at a stunning pace. It has been predicted that China will have more impact on the world over the next 20 years than any other country. The world order as we have known it is changing, and China is becoming its leader. But, contrary to the belief that China's economic miracle is solely due to its government, the reality is that it has been fuelled by its people's pent-up ambition and entrepreneurial spirit. Private-owned companies account for about 60 perce

This book investigates entrepreneurial initiatives in the three largest economies of the world: China, Japan and the USA. It brings together historical, institutional, and ethnographic approaches and highlights entrepreneurial patterns that result from cultural, legal, and political forces that facilitate and constrain entrepreneurship

The objective of the article is to provide an overview of the Chinese legal framework while examining the laws and legal provisions influencing entrepreneurship in China for both Chinese and foreigners, arguing that the current legal environment encourages domestic entrepreneurship and foreign investment. Research Design & Methods: This article explores the legal environment for entrepreneurship in China by taking a comparative and normative approach to introducing several recent initiatives established through normative documents. Findings: As China seeks to transform from an export economy towards a domestic consumption model, the government is increasing implementing initiatives to encourage domestic entrepreneurship. The majority of these initiatives are established through normative documents that, while not technically defined as law, nevertheless have legal effect. Implications & Recommendations: It argues that the legal framework is principally targeted at domestic entrepreneurship but has also benefited foreign entrepreneurship. Contribution & Value Added: This article is unique in that it explores the role of normative documents in Chinese initiatives to encourage entrepreneurship. In conclusion, China has invested heavily both economically and legally in the encouragement of entrepreneurship and in the cooperation between domestic and foreign entrepreneurs.

AbstractThe economic literature can help us find how to foster entrepreneurship in China in order to ensure a sustainable economic growth.Someone asked Confucius 'Why do you not take part in government?' The Master replied: 'The Book of History says, Oh! Simply by being a good son and friendly to his brothers, a man can exert an influence upon government." In so doing a man is, in fact, taking part in government.'(Confucius, The Anaclets, II.21. Translated by D.C. Lau, 1979)Zeal without knowledge is the sister of folly.(John Davies of Hereford, The Scourge of Folly, 1611)