WITH THE CREDIT crisis and looming recessions buffeting major developed economies, China is seen by many as a relative safe haven to weather the global storm. Of course, today's China growth can be traced back to the opening up and reform process initiated by Deng Xiaoping three decades ago this month. More specifically, China's economic rise has been powered by private-sector growth, which saw its contribution soar to well over 75% of the country's GDP today from zero 30 years ago. In recent years, private equity (PE) has been playing an increasingly critical role in funding the growth of successful private-sector enterprises.
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