4 ms·
Isn't BYD a VIE? Most "internet" (ie tech) companies in China cannot legally be owned by foreigners. And what you get is some proxy based in the Cayman Islands
by nonethewiser 10mo ago
Isn't BYD a VIE? Most "internet" (ie tech) companies in China cannot legally be owned by foreigners. And what you get is some proxy based in the Cayman Islands that is circumventing Chinese law. Not something I'd touch with a ten foot pole.
- dworks 10mo agoThe VIE structure has been officially ratified by the highest levels of regulators in China. It does not circumvent Chinese law.
- nonethewiser 10mo agoYou misunderstand - that doesn't make any difference. Foreigners cannot legally own internet stocks. Of course the Chinese government doesn't care if foreigners purchase internet stock proxies. It's a great deal for them.