The China Venture

institutions and control systems have occurred to create greater transparency, such as to
remove the ability of local officials to influence banking decisions. Action was also taken to
dissolve loss-making SOEs. One major on-going reform is the removal of the military links
with business, thus increasing the privatisation of business while professionalising the
military.. These are far reaching changes which demonstrated the Chinese government’s
resolve to build a modern and efficient market economy.
Looking at the tremendous changes in the banking and financial sector, Paul realised also the
many faceted dimensions of Chinese economy and policy. Clearly, given China’s communist
government and the immensity and complexity of the country, China has made tremendous
strides forward in the making of a market economy. The pace of change has been sure and
rapid. In such a situation of rapid change, everything would seem to be in a flux, with the
exception of genuine human relationships and understanding. This is probably the key to
success for the China venture. Is this not also Mr. Zheng’s key to success in China?
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