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Xinyuan Real Estate Co., Ltd. Message Board

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  • growth.value growth.value Sep 27, 2012 7:44 PM Flag

    Total Fraud, Little Fraud, Big Fraud: Tinker, Tailor, Soldier, Spy

    harleyridingman2 , if you think in China banks use companies' public financial statements for granted, you are seriously wrong. I have good friends in a third-party credit agency that helps the big 4 Chinese banks underwrite loans. They are smart enough to know several common accounting frauds Chinese companies use in different industries. Even so, they have to take haircut of companies' reported numbers.

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