As Anthony Bolton from China Fidelity special situations stated :
"
‘When I went out to China I thought corporate governance was about whether the chairman and the chief executive were the same, or whether the board had a majority of independent directors. I found that corporate governance is a euphemism for “are the figures real and is the management lying?,” that is, fraud,’ he said. ‘The Chinese are great liars.’
He gave as an example a company whose initial public offering document stated that it had 1,000 stores. Bolton found that was far from the truth. ‘It seemed to have only 500,’ he said."
I have found The Chinese will lie to you with a smile on their face pretty standard practice for them although I do like a lot of them in a social context I would never do business with them .
I have Been screwed by several Chinese companies , have to think their Government is just as corrupt
