Private Insurgent vs State Monopoly

"However, this competition did not leave room for China’s private enterprises. China remains an atypical modern country, where the government controls unlimited resources, and large state-owned capital groups dominate the upstream of industries and participate in policy-making."

"Through joint ventures, China’s passenger vehicle industry eventually formed the “Three Big, Three Small, and Two Mini” [[1]](#note1n) situation, which became insurmountable. On the positive side, joint ventures provided a lifeline for China’s auto industry amid dire shortages of capital and technology. However, from another perspective, they also exerted invisible pressure on newcomers."

"To many, Li Shufu had three obvious deficiencies in car manufacturing: First, he had only about 100 million yuan in cash. How could he enter an industry requiring huge investment? Second, Geely was involved in motorcycles with no accumulated experience in the automobile industry. Third, and more importantly, car manufacturing was considered a state endeavor. How could a private entrepreneur succeed without government support?"