A wholly-owned enterprise refers to an enterprise that is funded, owned and controlled by an individual, bears business risks and enjoys all business benefits. \x0d\ Private companies refer to some companies owned by families, shareholder groups or individuals, and their ownership shares are not sold publicly. Such companies are called private companies. \x0d\ Joint venture: Also known as a joint venture, it is generally defined as the establishment of two companies with the same investment capital, each holding part of the shares and sharing the profits, expenses, risks and control rights of the company.