What you say is also largely true. However you can in fact have a foreign owned enterprise and operate, at least until you come on the wrong radar.
The original statement, "Any commercial company operating in China needs to have 51% Chinese participation." is entirely not correct. And even with 51% Chinese participation, a foreign partner is likely to be screwed in the end.
The original statement, "Any commercial company operating in China needs to have 51% Chinese participation." is entirely not correct. And even with 51% Chinese participation, a foreign partner is likely to be screwed in the end.