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This article examines the intensity and sources of Chinese private entrepreneurs' support for the current political system. The study presented here is based on data from a representative sample of private entrepreneurs collected from five coastal provinces in late 2006 and early 2007. In general, China's private entrepreneurs tend to support the current party-state and to be in favour of the status quo. Subjective values are far more important than CCP membership and relationship to the state in determining which capitalists are regime supporters. Among all the factors analysed in this study, democratic values, life satisfaction, evaluation of government policy performance and perception of official corruption play the most decisive roles in shaping private entrepreneurs' support for the incumbent regime. Only red capitalists who are former cadres are likely to be reliable supporters of the regime when subjective values …