ABSTRACT
This introduction presents an overview of the key concepts discussed in the subsequent chapters of this book. The book examines the problems and strategies that are faced by China's private sectors after its accession into the World Trade Organization (WTO). The re-emergence of private enterprises is the most important event in Chinas recent economic development. The government implemented the household responsibility system in the rural areas, encouraged township-village collective enterprises to develop, and allowed foreign enterprises to establish joint ventures in China. Although private enterprises have taken a strong hold in the Chinese economy, they face many obstacles to further grow. Private enterprises in China also face many other challenges, such as lack of technical and information support, management experience, international trade and investment experience, and long-run planning. The faster development of the private sector is crucial to the successful handling of the internal and external challenges faced by the Chinese economy.
