Alibaba : the Chinese company that we have severely criticized even before it became public, and warned investors to stay away, on May 5 announced a 39% rise in revenues. That may be as real as the China GDP of 6.7%.
CNBC had a guest that day, Ann Stevenson-Yang of J. Capital Research, voicing some doubts about this number. She said that in China, there is one company with 80,000 freelancers who do nothing but create false invoices for Alibaba and other firms.
ALIBABA is growing at 39%, but no other company in that business in China is growing at anywhere near that rate. Sound fishy? Read our articles on Alibaba, written since their IPO: (click or copy the below links)