I'm not bearish but I do think people are not seeing the downside clearly enough. At the drop of a hat the govt can make http://JD.com and Richard Liu or even the entire foreign owned market disappear. This must be reflected in the stock price.
Uh...they recently fucked wang jianlin and the anbang guy...and yes it's a communist could try run in an increasingly totalitarian way by a dude with a growing cult of personality.