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In 1993, when the Chinese economy was in a major recession, Beijing’s Greatwall Enterprise Institute was founded by six consultants. The company eventually found its niche providing strategic and operational consulting to the governmental agencies (administrative committees) that managed science and technology parks. These agencies had witnessed explosive growth in China since the early 1990s. In 2019, with more than 350 consultants, headquarters in Beijing, 12 branch offices throughout China, and an annual revenue greater than ¥200 million (US$30 million), Greatwall Enterprise Institute faced new threats and opportunities: its success with so many government administrative committees meant that there was little room for it to grow in this area. The company wondered if it should expand to other local governments and their agencies in China. Or would business firm clients and the international market offer new opportunities?

In 1993, when the Chinese economy was in a major recession, Beijing's Greatwall Enterprise Institute was founded by six consultants. The company eventually found its niche providing strategic and operational consulting to the governmental agencies (administrative committees) that managed science and technology parks. These agencies had witnessed explosive growth in China since the early 1990s. In 2019, with more than 350 consultants, headquarters in Beijing, 12 branch offices throughout China, and an annual revenue greater than ¥200 million (US$30 million), Greatwall Enterprise Institute faced new threats and opportunities: its success with so many government administrative committees meant that there was little room for it to grow in this area. The company wondered if it should expand to other local governments and their agencies in China. Or would business firm clients and the international market offer new opportunities?

Executives of multinationals partnering with Chinese firms should be alert to Mao Zedong's lingering influence on some of the country's most successful executives--and, in particular, watch for a leadership tactic that can undermine a joint venture.

China is one of the most important foreign investment markets in both volume and growth. However, property rights protection in China is extremely weak and expropriations by both public and private actions are rampant. How can the booming of foreign investment and the looting of property co-exist? Why is protecting property rights so difficult in China? Shows that the different paces of institutional change between formal and informal constraints are the major cause behind the lack of property right protection in China. Discusses policy considerations for China to improve property right protection and raises two fundamental issues for multinational firms doing business in China.