Ministry of Finance, Issue of the «Consolidated Accounting Statements (Financial Enterprises) for the Year 2000» Circular

Issued: October 27 2000
Applicability: The Circular applies to State policy banks, wholly State-owned banks, State controlled commercial banks and all types of non-bank financial institutions (excluding insurance companies), as well as collectively-owned and Sino-foreign equity joint venture financial enterprises (Item One).

Main contents: Item Five of the Circular states that all banks and non-bank financial institutions with overseas subsidiaries or branches should prepare the statement for overseas financial institutions for their overseas subsidiaries and branches and the statement for domestic financial institutions for their domestic business. Data of the subsidiaries of non-bank financial conglomerates should be consolidated in the joint accounting statement while still listing separate data for the subsidiaries (Item Six).