XBRL China Jurisdiction established

In February 2006, “XBRL China Jurisdiction Promotion Organization” was jointly established by the China Securities Regulatory Commission Information Center, the China Insurance Regulatory Commission Information Center, the Credit Information System Bureau of the People’s Bank of China, the Research Center of Finance Sciences & Technology of Graduate University of the Chinese Academy of Sciences and the Shanghai Stock Exchange. Meanwhile the preparation for “XBRL China Jurisdiction” was well under way thanks to the guidance and support of officials from the Ministry of Finance. Moreover, the organization invited experts of XBRL International for field survey in China in October 2006 and April 2007 respectively. The organization, which spared no effort in applying to the XBRL International in the name of the China Accounting Standards Committee in September 2007, was finally granted approval in November. XBRL International announced to the whole world on December 3, 2007 at the XBRL International Conference in Canada the official establishment of the XBRL China.

The Founding Meeting of China Accounting Informatization Committee and XBRL (eXtensible Business Reporting Language) China Jurisdiction was held on November 12, 2008 in Beijing. According to Vice Finance Minister Wang Jun, the Ministry of Finance, together with relevant departments of the State Council, will consolidate the construction of China’s accounting informatization for the standard accounting information language, the automatic and integrated accounting information utility, the marketized and socialized accounting information service as well as the intelligent and modern accounting industry. All this contributes to implementing the Scientific Outlook on Development, enhancing the capital market’s transparency and improving the socialist market economy system.

XBRL China’s objectives

To advance XBRL research, growth, application, and the construction of industrial chain as well as its international communication; to facilitate XBRL-based financial information exchange standards; to promote standardized XBRL-based financial information exchange format; to realize the creation, collection, transfer, publication and analysis of financial information on the basis of the unified specification to reduce the cost of social information utilization to improve information accuracy and utilization and the electronic, automatic and networked process of financial information disposal; also to boost the sound and sustainable development of China’ s XBRL standard system.

XBRL China structure

XBRL China -- the General Assembly: to work on important issues on a regular basis

-- the Steering Committee: to provide macro-guidance & resolution

-- the Executive Committee: elected by the General Assembly and in charge of the organization and execution of annual work plans with subordinate working groups.

-- the Secretariat: permanent office available for daily business.