With their powerful economic presence, the Chinese dominate the country's wealthy elite. Development policies imposed by the Thai government provided business opportunities for the ethnic Chinese. A distinct Sino-Thai business community has emerged as the dominant economic group, controlling virtually all the major business sectors across the country. The modern Thai business sector is highly dependent on ethnic Chinese entrepreneurs and investors who control virtually all the country's banks and large conglomerates; their support is enhanced by the presence of lawmakers and politicians who are of at least part-Chinese descent. The Thai Chinese, a disproportionate wealthy, market-dominant minority not only form a distinct ethnic community, they also form, by and large, an economically advantaged social class. With the rise of China as a global economic power, Thai-Chinese businesses have become the foremost, largest investors in Mainland China among all overseas Chinese communities worldwide. Many Thai Chinese have sent their children to newly established Chinese language schools, visit China in record numbers, invest in China, and assume Chinese surnames. The Charoen Pokphand (CP Group), a prominent Thai conglomerate founded by the Thai-Chinese Chearavanont family, has been the single largest foreign investor in China. CP Group also owns and operates Tesco Lotus, one of the largest foreign hypermarkets, 74 stores and seven distribution centers in 30 cities across China. According to Thai historian, Dr. Wasana Wongsurawat, the Thai elite has remained in power by employing a simple two-part strategy: first, secure the economic base by cultivating the support of the Thai-Chinese business elites; second, align with the dominant world power of the day. , increasingly, that power is China. Religion First-generation Chinese immigrants were followers of Mahayana Buddhism, Confucianism and Taoism. Theravada Buddhism has since become the religion of many ethnic Chinese in Thailand, especially among assimilated Chinese. Many Chinese in Thailand commonly combine certain practices of Chinese folk religion with Theravada Buddhism due to the openness and tolerance of Buddhism. Major Chinese festivals such as Chinese New Year, Mid-Autumn Festival and Qingming are widely celebrated, especially in Bangkok, Phuket, and other parts of Thailand where there are large Chinese populations. There are several prominent Buddhist monks with Chinese ancestry like the well-known Buddhist reformer, Buddhadasa Bhikkhu and the former abbot of Wat Saket, Somdet Kiaw. The Peranakans in Phuket are noted for their nine-day vegetarian festival between September and October. During the festival period, devotees will abstain from meat and the