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. […]
The latest wave of penalties from China’s bank regulator suggests the country is taking a firm approach to bad debts, according to UBS research reported in Euromoney this week. The research shows that the number of bank fines issued by the China Bank and Insurance Regulatory Commission (formed in April 2018 after a merger of […]
Standardised, machine-readable definitions have made reporting simpler for regulators of all kinds across the world – however, the power of that same technology for internal monitoring is only just being realised.
This week marks the 20th anniversary of the Chinese funds management industry, marked at an event in Beijing attended by senior political as well as industry figures. An effective legal framework that provides a range of investor protections, and a thriving industry was marked at the celebration. One of the “Top 10” events that has helped bring the industry to this point? Scalable regulatory data collections using XBRL. Read more here (In Chinese but translates well with your chosen browser tool).
Digital ecosystems within China are accelerating so quickly that it’s hard to keep track. Researchers at the London School of Economics call out three key reasons for the rest of the world to find ways to join Chinese companies in the fast lane of digital development. They are: the scale and speed of Chinese tech […]
Today is Chinese New Year’s Eve, with tomorrow, New Years Day in the Chinese calendar, ushering in the year of the Rooster. Happy New Year to all our readers observing the Spring Festival across Asia and around the world. According to a survey commissioned by Union Overseas Bank, more than 75% of Chinese people plan […]
China’s central bank announced on Monday that an online system for the registration of Legal Entity Identifiers (LEI) has been established and put into operation, joining a global effort to strengthen financial stability.
XBRL International (XII) today announced that the General Purpose Taxonomy of Chinese Accounting Standards (CAS) has been granted “Acknowledged” status by the Taxonomy Recognition Task Force. XII’s multi-step Taxonomy Recognition Process validates the conformance of a taxonomy to the XBRL specification, determines that a taxonomy has been correctly authored, has had sufficient input from the […]