You may be aware of the appointment of a Royal Commission into misconduct in the banking, superannuation and financial services industry. Detailed info available at: https://financialservices.royalcommission.gov.au
Many of Chinese companies listed on ASX appears to be fraudulent, and there may be rarely any Chinese company on ASX where Australian investors may have benefited. I think listing of Chinese companies on ASX has been allowed without proper scrutiny, and may have been motivated by fees earned by ASX. As such, this fits in the terms of reference for the inquiry.
In my opinion, investor submissions to the royal commission would be in the wider interest of the Australian community. Thus, I suggest to make individual and group submissions to investigate the conduct of ASX in allowing Chinese fraudulent companies to list. The Commission will continue to accept submissions using online form up until 28 September 2018. Further, I recommend to share this suggestion on ‘hot-copper’ pages of other ASX listed Chinese companies you might know.
CDC Price at posting:
6.6¢ Sentiment: None Disclosure: Held
