Beware, Chinese Stock Issuers in America

Listing on a U.S. stock exchange is often billed as a badge of honor for Chinese companies anxious to build an international reputation as well as raise capital.

Even relatively small companies have gotten in the game, particularly those willing to join the Nasdaq exchange or launch a back-door listing.

Shares in 68 Chinese companies started trading through back-door listings on U.S. markets over the past two years. Another 63 mainland companies launched IPOs in America.