In accordance with the Law of the People's Republic of China on Certified Public Accountants and other relevant regulations, based on the principle of reciprocity and mutual recognition, the decision is hereby announced as follows:
I. The Swiss auditing standards and the International Standard on Auditing recognized by Switzerland are equivalent to the Chinese auditing standards
II. For accounting firms that are registered in the Swiss Confederation and the PRC respectively and issuing audit reports on financial statements of economic entities, the audit oversight systems of the Swiss Confederation and the PRC are equivalent.
The Decision will be implemented from the date of announcement.
Ministry of Finance of the People's Republic of China