The Chinese
Ministry of Finance announced in Beijing Tuesday that it has
just signed a joint statement with the European Union (EU) on
promoting the international accounting standard (IAS) in China.
The statement said China and the European Union will increasing
their cooperation in the future in making and carrying out the
IAS.
The two parties also decided to held regular meetings in the
future on the IAS and report to each other on the latest solutions
to those problems found in the promoting process of IAS.
Chinese Vice Minister of Finance Wang Jun, who is also
secretary-general of the China Accounting Standard Committee, said
that the cooperation between China and the EU on the IAS is one
vital move under the financial dialogue framework of both
sides.
The signing of the joint statement will be of great importance
in upgrading China's role in the global accounting market and
laying an accounting foundation for China's sustained and healthy
economic growth.
(Xinhua News Agency February 15, 2006)
