Talking to a Chinese friend whose job it is to issue loans to small companies in Sichuan, he says it is difficult for public Chinese companies to lie to the tax bureau (which for our purposes matters a lot more than SAIC), because the tax bureau looks at the SEC filings. That's pretty much all I need to know about that. the SAIC argument is rubbish, don't miss out on these bargains. cheers
Finally someone who gets it. I interviewed a CFO two weeks ago who basically did not even know what the SAIC was... Another one is asking me for my opinion.. I interview two lawyers who give two different answers. I would be nice if the auditors would just come out, issue an opinion and just put this issue to rest.
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