MtnView,

China being heavy-handed towards its tech sector really poses threat to shareholders of Chinese businesses that are listed overseas. When you buy a Chinese shares in the US, you are NOT buying a share, you are buying into a structure called VIE. In essence, a VIE is a legal dodge that lets Chinese companies sell shares to foreigners even if those companies operate in industries in which China prohibits foreign investment. China has full control over these companies and may punish them or be ridiculous at will.

POET, on the other hand, is not a Chinese business. It operates in China by establishing local subsidiary and through JV (SPX). China may, in theory, be heavy-handed towards foreign tech companies (and they had done so with companies like FB or GOOG whose services aren't available in China except maybe through VPN), but if they choose to do something ridiculous to POET or any other foreign company that already operates legally in China, they are risking the collapse of their own economy as NO ONE would ever establish JV or subsidiary in China ever again.

China has total control over Chinese companies, but not foreign ones operating on its soil unless they violate local laws.