CHINA China's accounting firms record 91.8 billion yuan in revenue last year

CHINA

China's accounting firms record 91.8 billion yuan in revenue last year

Xinhua

01:27, June 05, 2018

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(Photo: ifeng.com)

China's accounting firms recorded an annual total revenue of 91.8 billion yuan (about 14.3 billion US dollars) at the end of 2017, according to the Chinese Institute of Certified Public Accountants (CICPA).

The total number of accounting firms reached 8,605, and there were 105,570 certified public accountants in China, according to CICPA data released by the Ministry of Finance.

The sector has been growing rapidly, with 46 accounting firms posting over 100 million yuan of revenue last year, and 12 seeing revenue above 1 billion yuan.

CICPA also published the ranking of the top 100 accounting firms in China in terms of revenue, with PwC Zhong Tian ranking top by raking in over 5.1 billion yuan last year, followed by Deloitte Hua Yong, BDO China Shu Lun Pan, Ernst & Young Hua Ming, and KPMG Huazhen.

The institute began releasing information on the top 100 accounting firms from 2003 in a bid to improve the credit system and transparency in the sector as well as boost public awareness of accounting firms, said Chen Yugui, secretary general of CICPA.

Besides revenue, the institute also published information including the number of certified public accountants, and punishment by regulators of top accounting firms over a three-year period. 

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