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Chinese Privately Owned Enterprises (POEs) have played a major role in the rapid economic development of the nation. Entrepreneurs in Chinese POEs are typically endowed with an intimate knowledge of the local market, a vast network of guanxi, fine business acumen and a readiness to respond rapidly to market changes. More often than not, their industriousness and resourcefulness more than compensate for the lack of systematic corporate governance, limited access to capital markets, and an often unsophisticated approach to organization and management.
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