Case | HBS Case Collection | November 2009 (Revised August 2013)

IFRS in China

by Karthik Ramanna, G.A. Donovan and Nancy Dai


In 2005, China announced plans to "converge with," but not completely adopt, IFRS. China also began to lobby for changes to specific IFRS provisions, such as for related party disclosures by state-owned firms, to bring them more into line with Chinese interests. China's accounting system had already undergone significant reforms during the two decades when its economy had grown to become the fourth largest in the world. However, enforcement of accounting standards remained weak, the financial system was relatively immature, and large state-owned firms still dominated many sectors of the economy.

Keywords: Financial Reporting; International Accounting; Corporate Disclosure; Standards; State Ownership; Business and Government Relations; China;


Ramanna, Karthik, G.A. Donovan, and Nancy Dai. "IFRS in China." Harvard Business School Case 110-037, November 2009. (Revised August 2013.)