There are lots of debates on whether or not Chinese stocks are even "investable" after waves of news, crack downs and implementations of policies that have broadly affected Chinese ADRs listed in the US. I just want to offer a couple of points for your consideration: 1)Make no mistake that under the VIE structure, when you invest in, say $NIO, you are actually buying the shares of a Cayman Island registered holding company, a SPV - Special Purpose Vehicle, hence you don’t technically own any part of the actual underlying Chinese company