A groundbreaking ceremony was held for the third national accounting institute sponsored by China's Ministry of Finance, Sunday in Xiamen, a beautiful coastal city in east China's Fujian Province.
Construction of the institute, intended for training certified public accountants (CPA), is estimated to cost 500 million yuan (about US$60.24 million). The first-phase construction will cover 33.55 hectares of land and has a built-up area of 57,000 square meters.
Sources said besides the teaching of financial accounting, the institute would also engage in the training of senior economic management talents in cooperation with Xiamen University and big-name accounting firms in the world.
The ministry had earlier sponsored two national accounting institutes in Beijing and Shanghai.
Chinese Finance Minister Xiang Huaicheng attended the ceremony.
(Xinhua News Agency October 28, 2002)
