If you are about to enter the Chinese market, and your company outside China can conduct cross-border transactions with business partners in China, then, you only need to set up a branch (representative office) in China.
"Yes", said a local Chinese court in Li Qiang v. Ding Fengjing (2018). The answer led to the refusal of recognition and enforcement of a Singapore judgment for the matrimonial property.
In China, court conference summary, though not binding, can serve as guidance to the judges in their trials. In essence, it is more of a consensus of the majority of judges, similar to 'prevailing opinion' (herrschende Meinung).
China's Supreme Court issued the Guiding Opinions on the Service and Safeguard of the People's Court for the Further Opening-up in September 2020, indicating its readiness to participate in the global competition of the cross-border dispute resolution market.
To enforce a foreign arbitral award in China, the average length of proceedings is 596 days, the court costs are no more than 1.35% of the amount in controversy or 500 CNY, and the attorney's fees are, on average, 7.6% of the amount in controversy.