I have just returned from Beijing where Council met to celebrate ACCA's 20th anniversary of active support of the accountancy profession in China.
We have forged close links with the Chinese Institute of Certified Public Accountants (CICPA) in those two decades and a magnificent ceremony in the Diaoyutai State Guest House in Beijing was the perfect occasion to reflect on the dramatic economic progress China has made since the greater openness policy initiated by Deng Xiaoping. We were honoured to welcome Deputy Minister of Finance Wang Jun and Deputy Auditor-General Shi Aizhong as our guests at the event and delighted to be able to thank them formally for their valued support of ACCA in China.
Accounting and auditing play a core role in that economic reform and ACCA is proud to have contributed to the development of the profession alongside CICPA. China's move to IFRS and international auditing in recent years is proof of the importance the Ministry of Finance attaches to global standards as a stimulus to economic growth and investment.
With over 60,000 members and students in China, including Hong Kong SAR, this is clearly an important market for ACCA. There is a Chinese saying: it takes a long journey to test a horse. I think last week showed that, over the course of two decades, ACCA has been tested and not found wanting. And I trust that China has come to understand what ACCA stands for: that is, above all, building a stronger and more connected global profession that promotes and nurtures opportunity.
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