Despite reports by state media last month that China’s “Big Four” banks had made almost no new loans in the first half of May, Reuters reports that bank lending for the month rose more than expected: New loans...
by Mo Ming | Jun 10, 2006
From the Financial Times: China is encouraging the growth of accounting “national champions” to reduce the country’s reliance on the big four international firms that monopolise the auditing of Chinese companies listed overseas. Liu Yuting, director general of the Ministry of Finance’s accounting regulatory department, told the Financial Times that he wanted the development of […]
by Mo Ming | Jun 5, 2006
From the Financial Times: The big four accountancy firms are planning to boost their staff numbers in China by more than 20 per cent this year as they grapple with staff shortages that threaten attempts to boost investor confidence in the domestic stock market. Demand for international accounting expertise is soaring in China as giant […]