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Joint working group agreed to advance the use of IFRS in China

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24 Nov 2015

The IFRS Foundation and the Chinese Ministry of Finance have announced that they will work together to explore possibilities to advance the use of IFRS within China.

A joint statement, available on the IASB's website, contains the following key features:

  • The IFRS Foundation and the Chinese Ministry of Finance will establish a joint working group to advance the use of IFRS within China, especially for internationally oriented Chinese companies.
  • Both parties support the vision of Chinese Accounting Standards to become fully converged with IFRS Standards.
  • Both parties will encourage continued co-operation between the IASB and Chinese stakeholders in the future development of IFRS Standards.

Please click to access the press release on the IASB website.

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