China Accounting News Weekly[No. 21]2007.9.8-2007.9.21

The double-audit to B-stock abolished
On September12, the China Securities Regulatory Commission (CSRC) declared that domestic listing of foreign-oriented stocks wouldn’t have to carry on foreign auditing while audited by domestic accounting firms with securities and features qualification.

The Law of Financial Leasing closing to be finished
Liu Mingkang, the chairman of the China Banking Regulatory Commission (CBRC), said that the Law was nearly been completed and several new financial leasing companies were to be approved. At the beginning of this year, the CBRC issued the revised Administration Rules on financial leasing company and allowed commercial banks to set up financial leasing companies.
The contribution standards of guarantee fund won’t be changedOn September 14, the China Insurance Regulatory Commission (CIRC) declared that the range and standards for contributing supervision fee and guarantee fund won’t be changed, following the new accounting standards.

The CSRC standardizing the capital market
The CSRC issued 6 rules concerning on capital market, including: the administration rules on important asset reorganization of listed company ( consultative draft), circular on standardizing the information disclosure of listed company and behavior of stakeholder, the working regulation of M&A and reorganization supervision commission of the CSRC, the implementation rules on non-public offering, the No. 25 information disclosure content and format standards of listed company: the non-public offering plan and the offering report of listed company

Proofreader : meyoung
September 30, 2007 14：05PM. Released by http://www.esnai.com/

Note:
“China Accounting News Weekly” is established on August 5, 2005. It selects important accounting news weekly to convenient the people can acknowledge the developments quickly. From its launching, thousands of people read it every week.
In order to promote the development of China accounting industry to English readers, we make this English edition on March 23, 2007.