MOF forms first Accounting Standards Strategy Committee

　　The committee is responsible for providing advice and suggestions to China Accounting Standards Committee regarding formulation and implementation of China’s accounting standards and development strategies of aligning the standards with international ones. Members of the committee will serve on a term of three years, with Zhang Shaochun, vice minister of the Ministry of Finance (MOF), acting as the chairman.

　　Overall analysis report on 2014 annual reports of Shanghai-listed companies

　　In 2014, companies listed in Shanghai generated about a total of 2.06 trillion yuan of net profit, up 4.99% from a year earlier, with growth slowing down, falling 8.07% year on year. Earnings per share stood at 0.61 yuan, remaining flat with the same period of last year; shareholders' equity rose steadily, with net assets per share surging 11.09% from a year ago to 4.82 yuan. Corporate profitability weakened as return on net assets edged down 1.30 percentage points on an annual basis to 12.61%.

　　Empirical analysis report on 2014 annual reports of SZSE-listed companies

　　In 2014, 1671 companies listed in the Shenzhen Stock Exchange (SZSE) achieved a total of 631 billion yuan of net operating revenue, up 8.43% from a year earlier, with the growth of the Main Board, the SMEs Board and the ChiNext Board rising 5.25%, 12.09% and 25.57%, respectively. Net profit attributable to shareholders of parent companies added up to 378.2 billion yuan, up 11.65% from a year ago, with the growth of the Main Board, the SMEs Board and the ChiNext Board jumping 7.27%, 17.71% and 16.57% respectively.

　　SAT unveils two sets of taxpayer credit lists

　　On April 29, The State Administration of Taxation (SAT) unveiled at the same time the list of taxpayers rated A in national taxpaying credit in 2014 and the “blacklist” of taxation violations in the first quarter of 2015. A-rated taxpayers are entitled to enjoy a number of tax breaks and services, while discreditable taxpayers on the “blacklist” will be subject to joint penalties.