The Truth - in a (rather large) nutshell: For years, naive and overly optimistic foreigners have given China the benefit of the doubt regarding financial management when, in honesty, their system is so corrupt here that cooked books and the kind of major criminal activity that was apparent in Arthur Anderson and the Enron scandal in the US....is precisely the 'order of the day' in China. Nearly all Chinese companies have two books and the customers NEVER see the real numbers. Even the legal system here is broken and only supports Government officers and those with enough money to buy 'justice' - if there is such a thing. Everyone in China knows this - both citizen and officer, but nobody does anything about it. In America, you go to prison for life, for such things. Now, people outside of China are slowly starting to realize the truth...meanwhile, the Chinese are still devising tricky ways to cheat you out of your money while they quickly and desperately try to learn how to develop their businesses and nation so that it is International compatible...without spreading crime outside their own country or becoming killed or jailed in a foreign country in the process. Tragically, such is the effect that sudden economic prosperity and opportunity in China has had on this nation of people with rudimentary educations (the educational system is also a failing, tragically exploited money pit) and not much ethical guidance at all (that comes with education and, yes it includes ALL people with no ethics who think you are wise, not just the Chinese!). It is quite nearly what will destroy China's economic prosperity and bring their current economy to a screeching halt. You can trust this assessment. I've been here a decade, am still here and have mastered safe business in China(definitely a challenge). Also, as an int'l business owner an accountant for the US Government (US Army), I've seen many things that those inside the US are unaware of. Sadly, this is the same kind of thing that happens everywhere, in all countries. The only difference being the rate at which the process has evolved. Where did all the wise, ethical humans go? I sure hope they don't become extinct!

The Truth - in a (rather large) nutshell: For years, naive and overly optimistic foreigners have given China the benefit of the doubt regarding financial management when, in honesty, their system is so corrupt here that cooked books and the kind of major criminal activity that was apparent in Arthur Anderson and the Enron scandal in the US....is precisely the 'order of the day' in China. Nearly all Chinese companies have two books and the customers NEVER see the real numbers. Even the legal system here is broken and only supports Government officers and those with enough money to buy 'justice' - if there is such a thing. Everyone in China knows this - both citizen and officer, but nobody does anything about it. In America, you go to prison for life, for such things. Now, people outside of China are slowly starting to realize the truth...meanwhile, the Chinese are still devising tricky ways to cheat you out of your money while they quickly and desperately try to learn how to develop their businesses and nation so that it is International compatible...without spreading crime outside their own country or becoming killed or jailed in a foreign country in the process. Tragically, such is the effect that sudden economic prosperity and opportunity in China has had on this nation of people with rudimentary educations (the educational system is also a failing, tragically exploited money pit) and not much ethical guidance at all (that comes with education and, yes it includes ALL people with no ethics who think you are wise, not just the Chinese!). It is quite nearly what will destroy China's economic prosperity and bring their current economy to a screeching halt. You can trust this assessment. I've been here a decade, am still here and have mastered safe business in China(definitely a challenge). Also, as an int'l business owner an accountant for the US Government (US Army), I've seen many things that those inside the US are unaware of. Sadly, this is the same kind of thing that happens everywhere, in all countries. The only difference being the rate at which the process has evolved. Where did all the wise, ethical humans go? I sure hope they don't become extinct! - SHANGHAI/NEW YORK (Reuters) - China's securities watchdog said it is ready to turn over audit documents of a Chinese company listed in the United States to U.S. regulators, signaling a second breakthrough