A STUDY OF THE FUNCTIONING OF JOINT VENTURES IN CHINA

Today, international companies are increasingly interested in cooperating with Chinese partners, and the accumulated experience of creating joint ventures makes managers think about some aspects of interaction. With the comprehensive development of globalization and the continuous strengthening of economic cooperation between countries, joint ventures have become an important form of crossborder activity. Under this model, enterprises gain unprecedented advantages in facilitating technological exchange, expanding sales markets, and sharing management experience. However, in the macroeconomic context, joint ventures face many challenges in integrating global experience and adapting to local practices, such as cultural differences, leadership conflicts, and market risks that may hinder the sustainable development of the enterprise and enhance its innovation potential. This article focuses on the challenges faced by joint ventures in China's global experience and practice. In China, joint ventures have also gone through a rapid development phase. The Chinese government's policy of openness and the promotion of market reforms have created favorable conditions for the development of joint ventures.