Dentons appointed as 2018 standing legal counsel by China Association of Chief Financial Officers

On April 28th, 2018, Dentons Beijing senior partner Alexander Zhang and his team successfully entered into an agreement with the China Association of Chief Financial Officers ("CACFO") to act as the standing legal counsel for CACFO for the year 2018-2019.

CACFO, a non-profit, first-class non-governmental national organization across regions, sectors and industries, is administered by the Ministry of Finance ("MOF"). Associations of chief financial officers in each province, municipality, autonomous region and city under separate state planning, central-owned enterprises and institutions, state-owned large and medium-sized enterprises, and large private enterprises comprise the main body of the CACFO unit members. Individual members of the CACFO are chief accountants of enterprises and administrative institutions, including CFOs, financial directors, managing partners and heads of financial departments, and accountants performing the duties of the chief accountant in enterprises, administrative institutions, and private non-profit organizations.

In 1989, on the second meeting of the 3rd session, the Standing Committee of the Accounting Society of China ("ASA") decided to establish the China Chief Accountants Research Association ("CCARA") as ASA's second-level organization. Under the guidance of the MOF and ASA, Anshan Iron and Steel, Yanshan Petroleum, the Second Automobile Works, the Ministry of Railways, the former Ministry of Commerce, and the Shanghai Chief Accountants Research Institute acted as sponsors and connected with more than 30 other large-scale enterprises. They held the inaugural meeting of the CCARA on May 26, 1990 in Anshan Iron and Steel. In 1991, the Ministry of Civil Affairs ("MCA") approved the CCARA as a first-class national organization. In October 1995, the MCA approved the CCARA to be renamed as CACFO. Currently, CACFO has 18 branches, covering the major industries of the national economy, such as petroleum, electricity, railways, aerospace, textile, private, telecommunications, aviation, civil aviation, nuclear industry, weapons, ocean, electronics, geological exploration, light industry, water conservancy and hydropower, coal and metallurgy. 22 local, provincial and municipal chief accountants associations have become unit members of the CACFO.