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lding in Beijing. The parallel with the idolatry and adulation given to Mao portraits and tchotchkes only two dozen years previous is uncanny.‘confounding webs’ in some groups sheds light on the endless chains of subsidiaries that cloud the organizational understanding of China’s largest and most important business like so much octopus’ ink (Cao 2000:41). The futility of attempting to understand a singular, legally independent ‘firm’ in the context of China’s socialist market economy is apparent through the chains and interfaces highlighted in this paper. Not only international trade, investment and expansion policy, but also multinational firms looking to work with China should take note and pay careful attention to the nature of big business in China today.

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