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How do investors supervise the startups they invest in?
Investors generally don't supervise! Investors only want the profits they deserve! Usually it emphasizes fixed income+dividends!

Joint-stock companies are generally supervised by the CSRC, and the IRS can also check!

In China, you can directly check the company's income statement and the tax return of the tax bureau. If the two can match, it is basically accurate, otherwise it is illegal.