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Accounting reforms in China: a transition from a state plan and control‐oriented system to capital market‐oriented system

Qingliang Tang (Senior Lecturer, School of Accounting,Parramatta Campus, University of Western Sydney, Nepean, Kingswood, New South Wales)
Amy Lau (Regents Professor and Kerr‐McGee Chair in Accounting, School of Accounting, Oklahoma State University, Stillwater, OK)

Managerial Finance

ISSN: 0307-4358

Article publication date: 1 May 2000

Abstract

Compares China‘s financial reporting systems before and after the reforms of 1993, which is seen as a dramatic turning point. Analyses the economic factors driving accounting reforms and examines in more detail the influence of the developing capital market and increasing foreign investment. Tabulates the differences between the format, contents and types of financial statements and disclosures and financial ratios, before and after reform. Gives examples of some remaining problems, summarizes the key features of the new system and urges Chinese accountants and policy makers to adjust Western principles and systems to the unique environment of China.

Keywords

Citation

Tang, Q. and Lau, A. (2000), "Accounting reforms in China: a transition from a state plan and control‐oriented system to capital market‐oriented system", Managerial Finance, Vol. 26 No. 5, pp. 80-98. https://doi.org/10.1108/03074350010766693

Publisher

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MCB UP Ltd

Copyright © 2000, MCB UP Limited