The Mainland of China: "Outline of 12th Five-Year Plan for Development of Trade in Services"'

34 departments including the Ministry of Commerce of the People's Republic of China(PRC) have jointly promulgated the "Outline of 12th Five-Year Plan for Development of Trade in Services" on 27 November 2011. The accounting industry has been highlighted as one of the key sectors to be promoted as noted in the 12th Five-year Plan (2011-2015). In accordance with the Outline, PRC authority encourages the PRC accountants to go internationally to serve the PRC conglomerates and to participate in the international market. The Outline gives direction to the PRC accountants to develop, within 5 years, 10 international accounting networks and among which at least 3 local brands shall enter the top 30 worldwide. A copy of the section of accounting services extracted from the full version of the Outline is attached at Appendix(pdf format) for reference.