Accountancy in China

>> Audit Requirements in China

Requirement and thresholds

In China, the main organizations that  are required to be audited are as  follows: limited liability companies,  stock companies, public companies  and foreign-invested enterprises.  These types of organizations are  required by law to be audited,  whatever the size of their sales  or assets.

Corporation

A corporation is the most formal form of a legal entity. According to the company law of the People’s Republic of China, corporation here refers to a limited liability company or a limited joint stock company. A corporation is an enterprise juridical person, which has independent juridical personal property and enjoys the property rights of a juridical person. The most important aspect of a corporation is limited liability. That is, shareholders have the right to participate in the profits, through dividends and/or the appreciation of stock, but are not held personally liable for the company’s debts.


Latest version updated 12th March 2018

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1.4

Billion

Population

¥

Renminbi

Currency

$ 11.2

Trillion

GDP

9.597

Million

km2