Comment by nonethewiser
16 hours 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.
The VIE structure has been officially ratified by the highest levels of regulators in China. It does not circumvent Chinese law.