ABSTRACT
To establish a presence in China, transnational corporations need to understand China’s policy environment for international business. Gradualism is a key to understanding China’s policy environment. That is, China has pursued economic reforms and opening-up in a gradual manner, as compared to Russia and other Eastern European transition economies where a big-bang approach prevailed. In this chapter, we discuss how China has gradually liberalized its foreign trade, foreign direct investment and foreign exchange regimes.
