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People are concerned whether the investor protection mechanismcan be effectively implemented In 2013 there were many events in China’s capital market that made investors both angry and disappointed.One such event was the fraud during the initial public offering(IPO)by Wanfu Biotechnology(Hunan)Agricultural Development Co.Ltd.Soon after the company was listed at ChiNext,the country’s growth enterprise board,in 2011,there were reports claiming that Wanfu became qualified for the IPO by overstating its business achievements,but the company denied the allegations.Under continuing investigation and condemnation by experts and the media,Wanfu admitted on March 2,2013,that it cooked its aggregate revenues and profits during 2008-11,
People are concerned whether the investor protection mechanismcan be effectively implemented In 2013 there were many events in China’s capital market that made investors both angry and disappointed .One such event was the fraud during the initial public offering (IPO) by Wanfu Biotechnology (Hunan) Agricultural Development Co. Ltd. Soon after the company was listed at ChiNext, the country’s growth enterprise board, in 2011, there were reports claiming that Wanfu became qualified for the IPO by overstating its business achievements, but the company denied the allegations .Under continuing investigation and condemnation by experts and the media, Wanfu admitted on March 2,2013, that it cooked its aggregate revenues and profits during 2008-11,