Roger Montgomery warns about investing in Chinese companies

Just over a month ago, Roger Montgomery sent a warning to investors about investing in Chinese companies listed in the US or Australia. Montgomery says Aussie investors should not invest in Australian or US-listed Chinese companies unless your adviser can provide an exceptional objection as “US and Australian auditors don’t have access to relevant financial and business information when assessing Chinese companies.” Such financial and business information has been categorised by the Chinese government as “State secrets” – so cannot be turned over to foreigners." Chinese “state-secret” status of the financial and business information would probably prevent auditors obtaining appropriate information to comprehensively assess Australian-listed Chinese companies. Very relevant in the wake of the Hanergy mess. Full article: (VIEW LINK)

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