HKICPA Council delegation visits Beijing and Shanghai to deepen bilateral professional co-operation; Signs MoU with SHCPA to jointly build a talent and professional services platform

A leadership and Council delegation from the Hong Kong Institute of Certified Public Accountants (HKICPA) completed a four-day visit to Beijing and Shanghai from 7 to 10 June 2026. The visit not only continues the Council's tradition of annual exchange visits to Beijing, but also marks the resumption of the Shanghai itinerary for the first time in years, further expanding deep cooperation with the Yangtze River Delta region. The delegation, comprising President Stephen Law, Vice Presidents Jasmine Lee and Calvin Tse, Immediate Past President Edward Au, Chief Executive and Registrar Arthur Lee and leadership team as well as Council members, visited eight key Government departments and professional organizations, including the Ministry of Finance of the People's Republic of China (MoF) and the China Securities Regulatory Commission (CSRC), to strengthen exchanges and cooperation between the accounting professions in Hong Kong and the Mainland. During the visit, the HKICPA signed a Memorandum of Understanding (MoU) with the Shanghai Institute of Certified Public Accountants (SHCPA) to deepen comprehensive cooperation within the accounting sector across both cities in areas such as talent, ESG, and digital transformation.

On the first day of the itinerary, the delegation attended the flag-raising ceremony at the Tiananmen Square in Beijing. As one of the nation’s most iconic national ceremonies, it embodies profound historical meaning and patriotic spirit. Through participating in this solemn moment, delegation members deepened their appreciation of the nation’s history and development in a solemn setting, setting a highly meaningful prologue for the visit.

Serving the Nation's "15th Five-Year Plan" and Leveraging Hong Kong's Professional Advantages

This year marks the launch of the nation's "15th Five-Year Plan", centrally focusing on technological self-reliance, dual circulation, and green transition. During the visits, the delegation articulated to various departments and organizations the unique value of Hong Kong's accounting sector in the overall national development, highlighting that Hong Kong is not only a "super connector" but also an irreplaceable "super value-adder". The delegation also shared the Institute’s progress across five key directions: talent development, supporting Chinese Mainland enterprises in "going global", digital transformation, sustainability, and the regulation of emerging businesses, while elaborating on Hong Kong’s unique advantages and its strategic positioning under the nation's "15th Five-Year Plan".

HKICPA President Stephen Law said: "The four-day visit by the HKICPA delegation to the Chinese Mainland featured a packed itinerary and yielded fruitful outcomes. Through these visits, we engaged in in-depth exchanges with representatives from Chinese Mainland Government departments and financial professional bodies, showcasing the latest developments of Hong Kong's accounting profession while gaining insights into the latest Chinese Mainland policies and development trends. These invaluable experiences will enable the Institute to effectively fulfill its statutory duties to drive the development of Hong Kong's accounting profession. The Hong Kong accounting profession is based in Hong Kong, deeply rooted in the Chinese Mainland, and facing the world. We look forward to further deepening our cooperation with our Chinese Mainland counterparts, leveraging Hong Kong's strengths to contribute to the overall development of the nation under the blueprint of the '15th Five-Year Plan'."

Beijing itinerary: focusing on standards convergence, capital market connectivity, and sustainability

On 8 June, the delegation visited the Accounting Regulatory Department of the MoF and met with Director General Lin Qiyun. Both sides exchanged views on key accounting matters, including the convergence of accounting standards, sustainability standards, as well as applications and regulations for Artificial Intelligence (AI).

During the exchange, both parties noted that the convergence of accounting standards between the two regions has continued for nearly 20 years, effectively supporting the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect programmes and reducing transaction costs for enterprises in both regions with favorable outcomes. Going forward, the two parties will strengthen cooperation on sustainability disclosure standards to further lower the compliance costs for enterprises going public.

During their stay in Beijing, the delegation also visited the CSRC to discuss key topics such as capital market connectivity between the Chinese Mainland and Hong Kong, listing situation in Hong Kong and forward-looking planning for REITs Connect. Furthermore, the delegation visited the IFRS Foundation Beijing Office and the Chinese Institute of Certified Public Accountants (CICPA) to discuss various accounting topics including the implementation of sustainability disclosure standards, and talent development.

Following the Beijing visit, the delegation traveled to Shanghai, successively visiting the United Front Work Department in Shanghai, the Shanghai Stock Exchange, SHCPA, and the Shanghai National Accounting Institute to exchange views on topics such as Shanghai-Hong Kong capital market connectivity, accounting talent development and H-share return listing.

Shanghai-Hong Kong collaboration: jointly building a professional services highland

During the visit to Shanghai, the HKICPA signed a MoU with SHCPA to further strengthen bilateral cooperation for jointly building a professional services highland. Following the signing of MoUs with the Beijing-Tianjin-Hebei region, the Guangdong-Hong Kong-Macao Greater Bay Area, and the Chongqing Institute of Certified Public Accountants, this represents another significant milestone for the HKICPA in covering the Yangtze River Delta region, marking the further enhancement and deepening of its cooperation network in the Chinese Mainland. Under the MoU, both parties will engage in normalized collaboration across four core areas:

• Talent exchanges: Jointly building a collaborative cultivation and two-way mobility support system for high-end certified public accountants in both Shanghai and Hong Kong.
• Platform expansion: Addressing the needs of Mainland enterprises "going global" by co-building a cross-regional, one-stop professional services platform for audit, accounting, and consultancy services.
• Resource sharing: Extending the mutual recognition of Continuing Professional Development (CPD) course resources and instructors from both regions.
• Deepening exchanges: Co-hosting industry events around topics such as capital market connectivity, convergence of international accounting standards, ESG disclosure and assurance, and innovative applications of digital intelligence.

This signing marks a significant milestone in deepening the collaboration between the accounting sectors of Shanghai and Hong Kong. Relying on the four core cooperation pillars of talent, platform, resources, and exchange, both parties will continue to deepen the integrated development of the accounting profession across both regions.

In addition to the official visits, the Institute hosted reception dinners in Beijing and Shanghai, welcoming over 160 guests, including leaders from government agencies, representatives from chambers, partner institutions and recognized employers, as well as Chinese Mainland-based Institute members and Qualification Programme (QP) graduates. The dinners featured a lively atmosphere with enthusiastic exchanges, which not only effectively communicated the Institute's latest development initiatives, but also actively built a multi-party communication bridge, strengthening the connection among various stakeholders. As a mainstay of Hong Kong's professional services, the accounting profession does not merely “connect the Chinese Mainland and the world”—it will also leverage its professional expertise to continuously create value, serving the nation's higher-level opening-up.

^{The HKICPA delegation attends the flag-raising ceremony at Tiananmen Square in Beijing.}

^{A leadership and Council delegation from the Hong Kong Institute of Certified Public Accountants (HKICPA) visited Beijing and Shanghai from 7 to 10 June 2026, visiting eight key government departments and professional organizations to strengthen exchanges and cooperation between the accounting professions in Hong Kong and the Chinese Mainland.} 

^{The delegation signs a Memorandum of Understanding (MoU) with the Shanghai Institute of Certified Public Accountants (SHCPA) to further strengthen cooperation in talent exchanges, collaborative development, resources sharing and industry interactions.} 

^{To connect with Chinese Mainland stakeholders across different sectors, the HKICPA hosted reception dinners in Beijing and Shanghai, welcoming a total of 160 representatives from various organizations, Chinese Mainland-based HKICPA members, and Qualification Programme (QP) graduates.}