from my experience operating in China, its really pretty hostile to foriegn enterprises. If you want to import into China, you face incredibly high import duties. If you want to open a WOFE (wholly owned foreign entity), you have to recursively give them your ownership information so if you are venture backed, they will require your cap table, your investors cap table etc, etc. There is a reason there are very few American products in China outside of the biggest American brands, its simply too difficult and has too much compliance. I love China, but I do think the trade rules asymmetry with the US will need to be addressed at some point. There hasn't really been a detailed and honest discussion about this.