"If you are a foreign investor, a cross-border transaction lawyer, or a scholar of commercial law with an interest in the Mainland China market, you have likely encountered a perplexing arrangement: you are told that a company's "real owner" is not the person listed on its registration documents. The actual investor remains hidden behind the scenes, while a nominee shareholder takes the stage. This arrangement is so common in Mainland China's business practices that it has its own specific term: dormant investment [Translator's note: Also referred to as "undisclosed equity investment" or "nominee shareholding." dormant investment is an arrangement in which the actual contributor of capital (the actual investor) is not registered as the shareholder of record; instead, a nominee or nominee shareholder is listed on the company's official registration documents.] However, when you try to find a legal text that systematically explains this phenomenon, you will be disappointed to discover that no publication,whether in Chinese or English,has yet provided a comprehensive, in-depth treatment of this topic. This book was written precisely to fill this significant gap."