If you want Chinese shares, you can bypass New York.On the face of it, shares of Chinese internet giants traded in American markets through A.D.R.s might seem to be safer for Americans than shares sold in local markets like Shanghai, Shenzhen or even Hong Kong.Yet in some respects, regulatory requirements for I.P.O.s in China can be more stringent than those imposed by American regulators, Mr. Hsu of Rayliant Global Advisors said.One reason is that inexperienced investors in China who engage in “social gambling” move the local stock market even more than “ …
