Personnel Policy

Decree of the Shenzhen Municipal People’s Government

  The Interim Measures on the Accounting Professionals of the Hong Kong Special Administrative Region Applying to Be Partners of Accounting Firms in Qianhai Shenzhen-Hongkong Modern Service Industry Cooperation Zone have reviewed and approved on the seventy-second executive meeting of fifth session of Shenzhen Municipal People’s Government, are hereby promulgated and shall take effect from the date of  promulgation .
  Mayor: Xu Qin
  January 29, 2013
  Interim Measures on the Accounting Professionals of the Hong Kong Special Administrative Region Applying to Be Partners of Accounting Firms in Qianhai Shenzhen-Hongkong Modern Service Industry Cooperation Zone
  Article 1 These Interim Measures are formulated according to the provisions of the relevant laws and regulations and actual situations, with a view to regulating the accounting professionals of the Hong Kong Special Administration Region serving as partners of accounting firms in Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (hereinafter referred to as “Qianhai Cooperation Zone”.
  Article 2 For the purposes of these Interim Measures, the term “accounting professionals of the Hong Kong Special Administrative Region” means the residents of the Hong Kong SAR who have the Certificate of Certified Public Accountant of the People’s Republic of China and the membership of the Hong Kong Institute of Certified Public Accountants and hold the identity card for permanent resident in the Hong Kong Special Administrative Region.
  Article 3 The accounting professionals of the Hong Kong Special Administrative Region shall apply to the finance department of Shenzhen Municipal People’s Government (hereinafter referred to as the “municipal finance department”) for establishing accounting firms in Qianhai Cooperation Zone in accordance with these Measures and accept the regulation of the municipal finance department and other relevant departments according to laws.
  Article 4 The accounting firms in Qianhai Cooperation Zone with the accounting professionals of the Hong Kong Special Administrative Region as partners, as indicated in these Measures, shall not include the branches. 
  Article 5 The municipal finance department shall review, approve and supervise the accounting firms in Qianhai Cooperation Zone with the accounting professionals of the Hong Kong Special Administrative Region as partners in accordance with the Law of the People’s Republic of China on Certified Public Accountants, the Administrative Regulations of Shenzhen Special Economic Zone on Certified Public Accountants, the Regulations on the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, the Interim Measures for the Examination, Approval and Supervision of Accounting Firms and these measures.
  Article 6 The accounting firms in Qianhai Cooperation Zone with the accounting professionals of the Hong Kong Special Administrative Region as partners, in addition to compliance with the relevant provisions of the Administrative Regulations of Shenzhen Special Economic Zone on Certified Public Accountants, shall also meet the following conditions:
  (1) the number of partners from the mainland residents shall not be less than 51% of the total number of partners;
  (2) the important operation and management issues for decision making shall be specified in the partnership agreement, and whichever voting method is adopted for making decisions on important operation and management issues, the cumulative voting rights of mainland residents among the partnership shall not be less than 51%; and
  (3) the principal partner or others who perform the responsibilities of top management shall be a partner implementing the partnership affairs and served by the mainland residents.
  Article 7 Any accounting professional of the Hong Kong Special Administrative Region as the partner of an accounting firm in Qianhai shall meet the following conditions:
  (1) not being older than 60 years of age;
  (2) serving as a full-time employee in the accounting firm;
  (3) not suffering administrative punishment or discipline because of professional practices within 5 years before becoming the partner;
  (4) after obtaining the Chinese Certified Public Accountant qualification, working full time for a consecutive term of 5 years in accounting firms with the actual working time in domestic accounting firms of no less than 3 years;
  (5) one year before becoming the partner, not having been imposed the decision of not accepting or approval by the mainland finance departments or the Hong Kong Institute of Certified Public Accountants because of applying for establishing an accounting firm by concealing, or providing false materials, fraud, bribery and other illegal means; and 
  (6) after the establishment of the accounting firm, at least 180 days per year working in the accounting firm.
  Article 8 The accounting professionals of the Hong Kong Special Administrative Region who apply for establishing accounting firms in Qianhai Cooperation Zone, in addition to the materials submitted in accordance with the provisions of the Implementation Measures of Administrative Licensing of Shenzhen Finance Commission on Approval of Establishing Accounting Firms, shall also submit the following materials:
  (1) the certificate for consecutive professional experience issued by the provincial institute of certified public accountants in mainland and Hong Kong Institute of Certified Public Accountants pursuant to the provisions of paragraph (4) of Article 7;
  (2) the membership certificate of Hong Kong Institute of Certified Public Accountants;
  (3) the commitment letter furnished by the accounting professional for working at least 180 days annually in the accounting firm; and 
  (4) the commitment letter furnished by the accounting professional for accepting the supervision and administration of the finance department and other relevant regulatory authorities.
  Article 9 These Measures shall come into effect from the date of promulgation.