附件T2 Which of the following is N

附件T2 Which of the following is NOT considered a risk of operating in China by Western venture capitalists?
A、They can't establish holding companies freely.
B、They must get governmental approval if they want to invest new capital in companies.
C、They find the rules of the game changing from time to time.
D、They can't move money in and out the country easily.
【正确答案】：A
【名师解析】:根据题目所给的选项，西方风险投资者在中国运营时不认为是风险的选项是A。选项A指出他们不能自由地设立控股公司，这实际上并不是西方风险投资者在中国运营时的一个风险。在中国，外国投资者可以通过设立外商投资企业（如合资企业、独资企业等）来进行投资，但这些企业并不是控股公司。而选项B、C和D分别提到了需要政府批准、规则可能随时变化以及资金流动的困难，这些都是西方投资者在中国可能面临的风险。因此，正确答案是A。