Article at a glance:

How corporate China is evolving

• In the past, most Chinese companies fell into one of three categories: state-owned enterprises, joint ventures between Chinese and foreign businesses, or wholly owned foreign enterprises. But years of rapid economic growth are redrawing the landscape. State-owned enterprises remain, although this category is changing. Meanwhile, three other kinds of competitors are developing: globalizers, “restless adolescents” aspiring to a bigger global presence, and innovators and entrepreneurs. To be sure, many of China’s most dynamic, competitive companies retain vestiges of state ownership.
• Global executives will need a better understanding of Chinese competitors, suppliers, and business partners no matter where they fall along the ownership spectrum—from wholly private sector to wholly government owned. A sidebar addresses the mind-set of the executives who run these evolving Chinese companies.