 After consulting for a Sino-Canadian joint venture on the tender for a Light Rail Transit system project, Cheng established Capital Communications Corporation in 1986 to publish the Chinese editions of international titles, such as the "Capital", "Playboy" and "Forbes" magazines, Chinese edition.The company was merged with Paramount Publishing Group in 1991 (a public listed company) to become the largest publishing and printing house in the region.In 1991, Capital Communications Corporation was acquired by Paramount Publishing Group, with Cheng becoming CEO, a position he held until 1994.