China Banking Regulatory Commission, Circular on the Full Implementation of the «Enterprise Accounting Guidelines» by Financial Institutions in the Banking Industry

中国银行监督管理委员会关于银行业金融机构全面执行《企业会计准则》的通知

November 02, 2007 | BY

clpstaff &clp articles &

New guidelines to control manipulation of profits by banks.

Clp Reference: 3610/07.09.29 Promulgated: 2007-09-29

Issued: September 29 2007

Main Contents: The schedule for implementation of the Enterprise Accounting Guidelines issued in February 2006 by financial institutions in the banking industry is as follows:

(1) listed financial institutions in the banking industry: by 2007;

(2) non-listed share system banks, urban commercial banks, trust companies, finance companies, lease financing companies, auto finance companies, money brokers and foreign-invested banks: beginning from 2008;

(3) rural commercial banks, rural cooperative banks, rural credit cooperatives and urban credit cooperatives: beginning from 2009; and

(4) financial asset management companies: the year after the completion of restructuring, which shall not be later than 2009 (Article 2).

Related Legislation: Enterprise Accounting Guidelines, Feb 15 2006

clp reference:3610/07.09.29promulgated:2007-09-29

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