> I didn't realize they had made these changes. Interesting. Historically, western investors avoided the Chinese markets because none of the data coming out of China could be trusted due to lack of transparency and the different reporting requirements.

It still can't. The existence of standards does not imply compliance. I view the Chinese market as similar to Russia's: there are rules, but there are a lot of people who are effectively exempt from following them (at least until someone more powerful decides they aren't). Add in the lack of cultural taboos against defrauding others and it's a very difficult market. Accounting standards were (some might say still are) a problem, but not the problem.