Since 1978, when China announced its ‘open-door’ policy to pursue the country's long-term national goal, the Four Modernisations, more than 220,000 foreign funded ventures have been approved. By the end of 1994 some US$300 billion of contracted investment had been agreed and US$95 billion of utilized investment, making the country the most important recipient of foreign direct investment (FDI) in the developing world. This paper analyses the phenomenon of FDI in China. It examines the different forms and composition of FDI, reviewing its development since the early days of the ‘open-door’ policy and analysing its importance for Chinese domestic and export industries, as well as Western investor companies. Furthermore, the paper focuses on the world-wide sources of FDI in China and its distribution by both region and industry. Additionally, it reviews the existing research on FDI in China, emphasizing the investment mode of equity joint venture.

Purpose: The article is intended to consider how entrepreneurship needs to adapt if it is to address the global sustainability challenge. The intention is to propose a new business model that recognises the interconnectedness of the global ecosystem.Design/methodology/approach: The article analyses two case studies purposively written to demonstrate the difference between the traditional entrepreneurship approach, dating back to the 19th century and the proposed harmonised one. Both cases are based on secondary data and personal field observation.Findings: While the two cases focus on wealth creation, job generation and innovation, the traditional approach is shown to have had a long-term deleterious impact on both society and the environment, whereas the proposed harmonised approach impacts positively. The article recognises the multifaceted nature of the sustainability challenge and that the three elements (economy/commerce, society and environment) are interconnected. If there is a change in the status of one the other, connected facets will change or will need to be changed. Thus any solution needs to address all three facets.Social implications: The proposed business model will be of interest to scholars and practitioners of entrepreneurship and sustainability, as well as to policy makers and educators.Originality/value: Apart from proposing a new business model that will address the sustainability challenge, the article provides a definition of harmonious entrepreneurship and identifies the conditions required for it to be met, as well as the characteristics of the harmonious entrepreneur.

In the two decades prior to 2000, the UK franchise industry showed substantial growth. Subsequently, however, this growth appears to have reached a plateau, with growth of less than 1 per cent. Franchisors suggest that the biggest barrier to growth is a lack of suitable franchisees. One possible reason for the dearth of potential franchisees is a lack of public awareness of franchising and the opportunities it affords for both self‐employment and small business development. This paper examines, therefore, public perceptions of franchising in the UK; how well the concept is understood, how it is perceived and the policy implications. The study is based on a sample of 1,257 members of the public surveyed in five city centres in the UK. The results reveal that approximately a fifth of those questioned had no comprehension of the term franchising, while a further third showed limited understanding. Only a tenth demonstrated a clear grasp of the term. The paper concludes that, if franchising is to continue to grow and to achieve its potential for the creation of self‐employment and the growth of small firms, public awareness needs to be raised and the image of the sector improved.