Is that correct?
1) Wal-Mart , a US retail chain,entered the Mexican market by setting up a 50-50 subsidiary with a local Mexican retailer.
2) When the Japanese tyre group Bridgestone entered the US market, it made an acquisition buying the local production base of Firestone.
3) If a company wishes to enter the Chinese market, it usually looks for a local partner , who will cooperate in setting up a joint venture.
4) If a company is short of capital to expand overseas,it may prefer to have a licensing or franchising agreements with local business.
On #2, you might want a comma after acquisition. (I would.)
On #4, agreement should be singular.
Otherwise, it all looks good to me. Nice work!
[I edit copy and have tutored college writing.]