||The thesis assesses the influence of traditional Chinese values and cultural background on Chinese transformation, Chinese business style and Chinese business environment. Its attention is in particular focused on Chinese private and state sector. It generally describes positives and negatives of both types of ownership and reflects the speed and efficiency of the reform process in these fields of Chinese economy in connection with recent institutional development in China. Finally it briefly assesses external and internal pressures on Chinese transformation. As basic aspects it considers Asian financial and monetary crisis in 1997, China entry in WTO in 2001, the question of Hongkong and Taiwan and the influence of overseas Chinese on Chinese economy and business environment.