Clifford Chance
China: MOF Issues New Accounting Standard for Leases
30 January 2019
A revised PRC accounting standard (the "No. 21 Standard") standardising the recognition and measurement of leases and the reporting of related information has been issued. Broadly speaking, the No. 21 Standard adopts the approach established under the new lease accounting standard set by the IASB and known as IFRS 16.
