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Wholly foreign-owned enterprise

legal term in China, a type of enterprise founded in the PRC by foreign investors

Pronunciation
/ˈhəʊlli ˈfɒrɪn - əʊnd ˈɛntəprʌɪz/
/ˈhoʊlli ˈfɔrən - oʊnd ˈɛntərˌpraɪz/