A few months ago I read that they like to list here but our market did not appreciate china stocks. Maybe it is different now. It also said it will benefit other china stocks a great deal. We will know soon.
It might mean that the IPO promotion would be aimed at more American than Chinese investors, and that Wall Street would finally hear the bull case for the Chinese Internet sector. It would put the "government crackdown" the ADR and accounting panics, and the "dummy account" tripe far behind.