By John S. McClenahen Chinese government deregulation, industry restructuring and a fast-growing domestic market will result in a "surge of investment and partnering activity" in the People's Republic, believes Larraine D. Segil, a Los Angeles partner of Boston-based Vantage Partners, a consulting firm. "The Chinese government is pushing for consolidation in several industries such as pharmaceuticals and airlines," she says. For example, by the end of next year as many as 4,000 of China's 6,000 pharmaceutical may not meet new standards and will be shut down. "This is creating opportunities for foreign firms to 'buy in,'" Siegel states. She also sees joint ventures to enter Chinese markets as a way to lower risks posed by political and economic uncertainty.