News China05 May 2023

Listed insurers release 1Q2023 financial statements under new accounting standards

| 05 May 2023

Mainland Chinese insurance companies that are listed whether on local bourses or on exchanges outside the mainland have implemented the "Accounting Standard for Business Enterprises No 22--Recognition and Measurement of Financial Instruments" (equivalent to IFRS 9) and "Accounting Standard for Business Enterprises No 25--Insurance Contracts" (equivalent to IFRS 17) from 1 January this year.

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