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> It's generally illegal for a single foreign entity to own a controlling interest.

This is also not true. China, like all developing economies that have reached the global stage, allows WFOEs and FICEs [1]. There's significant taxes involved but these taxes are being decreased all the time .

(It's quite remarkable the stuff people believe about doing business in China. Really have to wonder where these ideas come from.)

[1] https://en.wikipedia.org/wiki/Wholly_Foreign-Owned_Enterpris...

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