China's Ministry of Finance issued the Accounting Reform and Development "15th
Five-Year" Plan, mandating strict enforcement of the Accounting Law, clearer
allocation of responsibilities and a strengthened accountability framework. The
plan prioritizes accounting-quality inspections in sectors tied to the national
economy and livelihoods, instructing authorities to "clean existing stock and
curb new cases" and to rigorously investigate and punish financial fraud,
including fictitious economic transactions, profit inflation and false financial
reports. It calls for deep probes into fraud networks, legal action against
third parties that assist fraud, accelerate removal of existing fraudulent
accounts, and front‑loaded prevention via routine monitoring and big-data/IT
surveillance. Units and responsible individuals involved in serious or malicious
violations will face legal and disciplinary accountability.
