I agree with Sharegod, ACHL is a much better bet for a China play, and still cheap in my opinion at 160p given expected 24p EPS and 7p DIV this year.
If you go to www.armshare.com you can read the December 05 latest note on Jarlway from Hardman, but its not pleasant reading if you are a holder of JWY.
For those too lazy to register and read the detail provided by www.armshare.com on the company, here is the link to the latest Hardman note.