To The Moon

News just came in that PCAOB, public company account oversight board set up by the US government to oversee audit of US public companies has just been given full access to inspect and investigate financial records of China companies listed in US

Great news for NIO, BABA, PDD, BIDU

This is major news because is the first time in history that China allow audit papers to be taken out of China for inspection, following through on the agreement signed back in August.

I think this greatly reduce the risk of China companies listed in US being de listed although another major factor will be the discrepancies if any found in the audit papers.

Nonetheless this is yet another great news after China begin to open up their country after relaxing covid19 restrictions.

Thoughts

I believe China companies have huge potentials however many will depends on China relationship with the US so I feel it would be wise to have a position on great China companies where many have fallen to nearly single PE ratios ought to give much room to the upside. But please bare in mind the biggest factor is never within the company itself but dependent on Marco conditions I.E US China relationship

For me, I would continue to put some eggs in China basket and watch closely on their relationship development. 

$Alibaba(BABA)$  $Pinduoduo Inc.(PDD)$ $NIO Inc.(NIO)$ 

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