After CSKI imploded, one take-away I had was it was "safer" to buy Chinese stocks that have a known quantity (like PriceWaterhouse) auditing them Guess what? That can be just as bad. Check out DYP today, a stock I (thankfully) sold about 6 months ago:
InPlay: Duoyuan Printing says Xiqing Diao has been appointed Duoyuan Printing's CEO effective immediately; also announces dismissal of Deloitte Touche Tohmatsu as its independent registered public accounting
The result? A 55% crash. It does make you wonder whether it is even possible to invest in these Chinese Hybrids. Some may be fine, but it seems the entire pool is tainted.