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[Aussie Mike]

It's not simple! Joint ventures are favoured by China thus much easier to establish

As a solely owned enterprise, there are issues to deal with on each individual basis such as,
Visa restrictions, you can not conduct business if you are teaching, nor can you teach if you have a business visa.

However, you can invest! If you employ a Chinese manager to run the business, you can continue your current employment contract.
Once your company is established, you can then apply to employ a foreigner, yourself. This process in some situations can take more than a year to qualify.

Other things to consider are inspections and certificates to obtain for specific areas of business.

Chinese law requires more registration process and conditions to issue certificates and permissions to conduct business as a sole foreign owner, as there are even more conditions for a sole foreign owner than a wholly owned foreign enterprise, partnership arrangement.

Initial capital
The amount will depend on whether you want to keep the money in China, 100,000 rmb capital is the minimum requirement but the money must remain in China. To set up an International company that can take profits out requires a minimum of 500,000 rmb from a foreign source.

Here's another link for now, I will develop this page a little later.

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[Aussie Mike]

You don't have a link exchange for us.