Li Ke Qiang : Deployment of Bettering the Accounting Policy for the Accelerated Depreciation of Fixed Assets

　　Li Ke Qiang, the prime minister of the state council of China convenes and presides over the executive meeting of the State Council on September 24th 2014. The meeting confirmed that all the enterprises from all the industries which purchase devices and equipment used for R&D since January 1st 2014 are allowed to charge them as costs or expenses for the current accounting period before company income tax charged when the value of assets is below 1million RMB or to utilize the method of shortening the depreciation period of assets by 40% or of double-declining-balance when the value of assets is above 1 million RMB. In order to promote the input of the products in High-Tec, newly-purchased fixed assets after January 1st 2014 have been allowed to be depreciated by the method of shortening the designated depreciation period of assets by 40%or of accelerated double-declining-balance within biopharmaceutical industry, manufacturing industry, computer , telecommunication or electronic products manufacturing industry, device & instrument manufacturing industry , information transferring , software and information technology service industry.

　　CSRC(China Securities Regulatory Commission) imposed administrative penalty on HUA AN accounting firm in Hebei province

　　CSRC has decided to confiscate the illegal income of altogether 927090 RMB and impose a fine of 927090 RMB. Meanwhile it imposed on Qi Zheng hua a fine of 200000 RMB and a fine of 100000 RMB on Li Yu , Wang Fei , Ai Ting Sheng respectively.