XBRL in use in China
27 September 2005
XBRL International has granted Acknowledged status to taxonomies being used for company reporting in China – confirming the taxonomies meet XBRL standards and underlining the fast progress being made in China with the use of XBRL.
The China Listed Company Information Disclosure (CLCID) Taxonomy Framework is a set of taxonomies which enables companies that conform to the China Listed Company Information Disclosure Regulations to tag financial statements in XBRL. The taxonomies were developed by the Shanghai Stock Exchange (SSE). The set currently consists of seven taxonomies:
XBRL International Acknowledged status means that the taxonomies fully conform to the latest XBRL International Specification and also meet certain standards of documentation.
Chinese companies are now using the taxonomies for quarterly, half-year and annual reports. Some 837 companies used the taxonomies for their 2005 semi-annual report and their 2004 annual report. An initial version of the taxonomies was first used in 2004 in a pilot project under which some companies provided their 2003 annual report. The SSE then expanded the taxonomies to cover all the elements used in regular, intra-year reporting, and moved on from their pilot to full-scale reporting. It plans to extend the set of taxonomies to cover temporary announcements by listed companies. It also plans to transfer historical reports into XBRL data to enable efficient access to this information.
The CLCID taxonomies are the first Chinese taxonomies to be given Acknowledged status by XBRL International.
Announced by
Peter Calvert
XBRL International
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