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Before 1978, China's economic policies were mainly aimed at self-reliance. As a result, the country was virtually shut off from world economic developments. In 1978, China opened its doors to foreign investment with the goal of modernising its economy and raising the living standard of its people. The country has since established the necessary legislative basis for foreign investment and has actively sought to acquire modern foreign management and technical skills. This guide is a comprehensive source to all aspects of doing business in China. © Deacons, September 2006 Please visit: http://www.deacons.com.hk/eng/knowledge/knowledge_205.htm