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About Joint Venture:

A joint venture can turn under-utilized resources into profit, create a new profit center, and help you enter untapped markets more quickly and less costly than WFOE.
Joint Venture is a popular method of expanding business. Major corporations and mid-sized companies are getting together, and small companies can, too, on a less formal basis.
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Wholly Foreign Owned Enterprise (WFOE)

A Wholly Foreign Owned Enterprise (WFOE) is a limited liability company wholly owned by the foreign investor(s). WFOEs allow foreign investors to manufacture, process, assemble, trade, distribute, deliver services or provide retailing facilities in China, without joining together with a Chinese partner.
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Foreign Invested Commercial Enterprise (FICE)

A WFOE with Import and Export Rights is called a FICE (Foreign Invested Commercial Enterprise).
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