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Financial reporting in Mainland China

China's rapid economic growth in the past two decades has amazed the rest of the world. With China's accession to the WTO in December 2001, business activities with and within China have been further expanding and China's influence on the world's economy continues to increase.

China fully understands that a sound financial reporting system plays a key role in the process of economic development. The Chinese Ministry of Finance (MOF), which has the responsibility for regulating accounting matters in China, has set itself the objectives of fostering investors' confidence in financial information, increase transparency of financial reporting, and harmonising Chinese national accounting standards with International Financial Reporting Standards (IFRSs), so as to reduce the costs of raising capital by enterprises and alleviate the risks of financial crisis.

China has already made significant progress in harmonising Chinese accounting standards with IFRSs. In this process, Deloitte Touche Tohmatsu has been engaged as consultants to help the MOF develop a body of Chinese Accounting Standards in line with accounting and financial reporting practice used internationally.


  • IFRS Model financial statements 2012
    These financial statements illustrate the presentation and disclosure requirements of IFRSs for the year ended 31 December 2012 by an entity that is not a first-time adopter of IFRSs.
  • New IFRS elearning modules
    Deloitte’s Global Audit Learning group has released two new e-learning modules on derecognition under IFRS 9 'Financial Instruments' and offsetting under IFRS 32 'Financial Instruments: Presentation'.
  • iGAAP 2013 - A guide to IFRS reporting
    The report sets out comprehensive guidance by focusing on the practical issues faced by reporting entities. Learn more.
  • iGAAP A Practical Guide on Financial Instruments (in Chinese)
    This book sets out comprehensive guidance on implementation of financial instruments standards
  • IFRS in Focus Newsletter
    We publish IFRS in Focus newsletters at the time of release of new and revised Standards and Interpretations, Exposure Drafts and discussion documents, including summaries of the documents and consideration of the principal amendments/proposals. Prior to June 2010, the newsletter was called IAS Plus Update.

Certain recent IFRS in Focus newsletters have been translated into Chinese, learn more.

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    A resource for China Accounting Standards
  • IFRIC Review newsletter
    To examine matters discussed at the IASB's IFRS Interpretations Committee

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  • iGAAP 2012 A guide to IFRS reporting
    The guide provides insight into how complex practical issues should be resolved and illustrative examples to demostrate how the standards work in practice.
  • IFRIC 12 Service concession arrangements – A pocket practical guide
    The Guide is intended to serve as an illustrative tool for the reader in the application of IFRIC 12, providing analysis of the requirements of IFRIC 12 and practical guidance with examples
  • New IFRS e-learning modules (in Chinese)
    29 Chinese IFRS e-learning modules have been released in CASPLUS site.
  • iGAAP 2010 A Guide to IFRS Reporting
    The fourth edition of this guide sets out comprehensive guidance for entities reporting under IFRSs.
  • IFRSs in your Pocket 2011
    This guide includes summaries of each IASB Standard and Interpretation as well as the Framework and the Preface to IFRSs and the use of IFRSs around the world
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