China to seek more accounting management information

China will see more accounting management information and experience to adapt to ongoing economic restructure, experts said on a conference held in Beijing Wednesday.

China is moving from an export economy to consumer economy and the middle class needs more wealth, said professor Gary Cokins, an internationally recognized expert from the Institute of Management Accountants.

"Increased wealth will come by being more productive, which will need management accounting information," he said.

The conference celebrated the launch of a research institution, co-founded by IMA and the University of International Business and Economics, which will be dedicated to developing China's management accounting education.

A panel of more than 60 experts, including IMA's vice-president of international business operations Jim Gurowka, attended the conference and held discussions.

China will see more accounting academy institutions seeking opportunities in to deepen communication and cooperation with international authorities, after the Ministry of Finance issued an instructional regulation in January aimed at upgrading the nation's accounting system.

Such cooperation will contribute to boosting the country's accounting education, said Wang Ling, Party chief of the university.