Opportunities in China
CPA Australia's Beijing representative office was established in 2002, while the Shanghai office was opened in 2006. Our reach also branches out across the Pearl River Delta with the establishment of a liaison presence in Guangzhou and Macau in the first half of 2007.
These new business expansions would provide high quality services and support to members and the general public interested in pursuing the CPA qualification.
Member services
CPA Australia offers members in China a range of unique products and services, including career seminars; careers counselling; and networking events.
Pathways to membership of your local body
In 2004, CPA Australia and The Chinese Institute of Certified Public Accountants (CICPA) signed a memorandum of cooperation for further exchange of information and cooperation of professional development.
The agreement opens up the possibilities for professionals to expand not only their knowledge base, but to also assist China-based companies and organisations to become more familiar with international accounting, auditing standards and business management skills.
China's business environment
The accounting profession in China is relatively new, having existed for about 25 years.
From 1 January 2007, all listed companies in China are required to abide by the new Chinese Accounting Standards which is substantially converged with international financial reporting standards. Meanwhile, new Chinese Auditing Standards began to be applied for audits of listed companies.
China's economic growth, which has averaged 9.5 per cent the past two decades, has been the single largest contributor to global growth. Over the past five years and in 2005, China accounted for around one quarter of the world economic growth. China's growing economy is creating many opportunities for accountants and finance professionals.
Employment opportunities
Many companies in China offer accounting-related jobs for recent graduates throughout the year. The major recruitment period for large and international firms starts in September and closes by late December.
Skills and specialities in demand
Due to the opening and rapid development of the China economy, there is a growing demand for qualified accountants with the following skills and specialities:
- good English
- China accounting knowledge
- international accounting knowledge
- business management skills
Employers in China are recruiting accountants at all levels, however, positions with the highest demand are:
- audit / internal control
- financial accounting
- management accounting
- planning and analysis
- tax
- treasury
Source: Ambition 'Accounting and financial recruitment, market trends and salaries report, China 2007'.
Work permits
An employment visa is required for foreigners working in China. Key criteria for the working visa are possessing relevant expertise and experience and a clean record. It is the prospective employer's responsibility to apply for a visa.
For further information visit the Ministry of Foreign Affairs of the People's Republic of China.
Working conditions and lifestyles
Career opportunities for professional accountants are abundant especially in major cities such as Beijing, Shanghai and Guangzhou where many multinational companies set up their offices.
There is a general respect for people in senior positions, and job titles in China are very important.
More information
- visit the Ministry of Foreign Affairs of the People's Republic of China website
- visit the Useful website section of the CPA Australia website
- visit the Chinese Government's official web portal
- view China's contact details on the CPA Australia website
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