Since the early 1990s, construction joint venture companies have been developing and evolving rapidly in the People's Republic of China. However, entering the Chinese construction market is still seen as exciting but difficult by many foreign contractors and consultants. This research involved a full population survey of 160 Sino-foreign joint venture project based construction companies in four provinces. It investigated key factors for the success at the formation stage of joint ventures, comparing perceptions of Chinese and foreign executives from Sino-foreign joint ventures. The results inform potential foreign and Chinese firms seeking to establish successful construction joint ventures. The authors argue that there is no significant difference in the perceptions, between Chinese and foreign partners, of the importance of key factors leading to the success of joint ventures at the formation stage. © 2003 Elsevier Ltd and IPMA. All rights reserved.
- Joint venture