From Beijing Review (link):
Yin Xiaotian, 37, is successful, modern and ambitious. In his car, a blessing card hangs from the rearview mirror. On one side of the card is a picture of Mao Zedong. On the other is the Chinese character for Buddha, fo. Yin is a Buddhist–one of the new breeds seeking inner peace in a country swept up in modernity.
While economic reform has brought a better life for many, the accompanying social changes of expanding income gaps, unemployment and crimes are the negative spin-offs. “This urges some individuals to look for a way of restoring order in the world, in this case through religion,” said Yang Fenggang, a professor in the Department of Sociology at Purdue University.
See also Wikipedia’s “Buddhism” and “Buddhism in China”