Digitisation and XBRL in China
In a Ministry of Finance review document, the Chinese Government’s Accounting Department has highlighted the achievements and progress made in accounting management in 2018 and outlined its aims for the future.
The Department intends to continue promoting the internal application of XBRL, and is working towards a national standard for standardised enterprise reporting with XBRL.
China has been continually innovating in the digital reporting space, not least with an impressive presentation at Data Amplified 2018 from XBRL China showing how XBRL can be used for internal business monitoring and management. The commitment to driving forward structured reporting in China remains absolutely cutting edge.
To read more about the updates in accounting in China the full report can be accessed (in Chinese) here.