China's Ministry of Finance issued the Accounting Reform and Development "15th Five-Year" Plan, mandating strict enforcement of the Accounting Law, clearer allocation of responsibilities and a strengthened accountability framework. The plan prioritiz

2026-11-11

China's Ministry of Finance issued the Accounting Reform and Development "15th Five-Year" Plan, mandating strict enforcement of the Accounting Law, clearer allocation of responsibilities and a strengthened accountability framework. The plan prioritizes accounting-quality inspections in sectors tied to the national economy and livelihoods, instructing authorities to "clean existing stock and curb new cases" and to rigorously investigate and punish financial fraud, including fictitious economic transactions, profit inflation and false financial reports. It calls for deep probes into fraud networks, legal action against third parties that assist fraud, accelerate removal of existing fraudulent accounts, and front‑loaded prevention via routine monitoring and big-data/IT surveillance. Units and responsible individuals involved in serious or malicious violations will face legal and disciplinary accountability.