Money

HKEx to let mainland firms use mainland accounting rules

(Agencies)
Updated: 2010-12-10 14:02

The Hong Kong stock exchange said it will allow locally listed mainland companies to prepare their accounts using mainland standards, Reuters reported on Dec 10.

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The announcement follows a long consultation period between?mainland and Hong Kong regulators. In a reciprocal arrangement, Hong Kong companies listed in?the mainland?will be able to use Hong Kong standards.

"This is expected to increase market efficiency and reduce compliance costs of mainland incorporated companies listed in Hong Kong," said Mark Dickens, Hong Kong Exchange's Head of Listing.