I have a Chinese-American friend in a finance position with an American company, who travels to China on business regularly. He says you cannot trust - and his company never trusts - the financials of most Chinese companies.
Yes...that is a given...and they will wear a ‘face’ of success and superiority when it’s questioned.
Interesting. I have a boss who consults in Russia and says the same thing about Russkie companies. They tend to get get assets and liabilities confused. Always a positive effect on the bottom line so they do have that going for them. Lol