Extent of IFRS application Status Additional Information
IFRS Standards are required for domestic public companies China's national standards are substantially converged with IFRS Standards, and China has committed to adopt IFRS Standards for reporting by at least some domestic companies although there is no timetable for completion of the process. Chinese companies representing more than 30 per cent of the total market capitalisation of the domestic market produce IFRS-compliant financial statements as a result of their dual listings in Hong Kong and other international markets.
IFRS Standards are permitted but not required for domestic public companies
IFRS Standards are required or permitted for listings by foreign companies Foreign companies do not trade currently in Chinese securities markets. Therefore, there is no relevant regulation on whether those companies would be permitted to use IFRS Standards.
The IFRS for SMEs Standard is required or permitted No.
The IFRS for SMEs Standard is under consideration No.
Last updated:
28 March 2017
Last updated:
18 November 2015
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