Citi forgot to mention the real important part about E&Y not handing over the documents requested in the Sino Forrest scandal.
The reason E&Y wont hand over the documents is because they are part of the cover up and hiding behind the Chinese wall because they can.Now we are getting to the point that this BS will come to a head and all auditors in China will be forced by US regulators to hand over all verified financials or lose their registration in China to audit!
The facts will be comming to light regarding Baidu very soon...The markets simply cannot allow a 47 Billion dollar unaudited and unverified balance sheet scam any longer!
You're fascinated by them...so is wall street. They use Chinese stocks like a yo-yo to their FULL advantage. Some poster a while back nailed it by saying, " Why chop down the money tree?" I agree, but ya gotta be on the right side that the tree is falling. Look at the one-year chart. If you can time it, you do well...
Someone must have fabricated these non-existing harsh slogans. I have never seen anything like these in China at all. I think Chinese people would think how creative these slogans are.
The most I saw in the past is just plain and simple "have one child, that is our policy". Also, you can check out the real consequence in the policy if you have more than one child. You will just lose the allowance that government gives to people that has one child.
That one child thing is pretty harsh...and as a side note, I have also asked myself the same question 'what exactly are we investing in'. It's getting pretty difficult to be totally comfortable investing in company's over there. But for some reason I'm facinated with them.