More Chinese Accounting issues
The SEC are working hard but are hitting road blocks and seem to be having difficulty in dealing with the Chinese when looking into the accounting issues of a number of companies. The Chinese are further blocking access to many of these companies documents and not playing fair.
It astounds me that people are still investing in these Chinese foreign listed entities. The level of accounting irregularities is perverse and yet professional investors are still putting their money into the black hole of Chinese foreign listed entities.
When trust fails in markets, the systems can break down. The Chinese need to ensure they dont break the trust of western investors.
It will be interesting to see the outcome of the coming months of SEC probing.