There will be an opportunity for 15 BCCC Members to attend the event and 
reservations will be taken on a first-come first-served basis (one person per 
member company or Individual members). The topic for this month's MDF is:

Implications of 39 PRC New Accounting Standards to Foreign Businesses in 
China

On February 15, 2006, China's Ministry of Finance issued 39 new business accounting 
standards, indicating a significant step towards convergence to International 
Financial and Reporting Standards ("IFRS"). The new standards will become 
effective on January 1, 2007 for Chinese listed companies. Non-listed companies are 
encouraged to implement them. Aimed at improving the quality of financial 
information, the new standards will have a significant effect on the profit and 
loss of the Chinese listed companies. For instance, some scope for profit 
manipulation is removed, such as impairment of assets, while on the other hand, new 
manipulation opportunities arise, such as fair value approach. With the opening of 
the A-share market for foreign investors since January 2006, the new standards 
largely in line with IFRS signal a move that will enhance investors' confidence in 
China's financial reporting and capital market. Foreign investors may benefit a lot 
from this move and gain more new investment opportunities in China. 

Event:		BCCC Management Discussion Forum
Venue:		The British Centre
Date: 		Thursday 8th June, 2006 
Time: 		4:00pm-5:30pm
Cost: 		Free for BCCC members
Language: 	English

Speakers:

Mr. Ken Lee, Partner with Lee & Lee Associates, is a Chinese Certified Public 
Accountant ("CCPA"), a Chinese Certified Tax Agent ("CCTA"), a member of 
Association of Chartered Certified Accountants, UK ("ACCA") and a Certified 
Internal Auditor ("CIA"). Mr. Lee once worked with Deloitte as an auditor and a 
multinational company as Senior Finance Manager, providing a broad range of 
professional services including audit, capital verification, internal control 
(including Sarbanes Oxley compliance), business valuation, financial due diligence, 
tax advice, accounting service, financial advice, foreign investment, M&A and 
business establishment and liquidation, etc. The businesses of his clients cover a 
wide range of industries, including manufacturing, trading, consulting, publishing, 
real estate, advertising, public relations, etc. Mr. Lee once provided training to 
a number of finance executives of MNCs. He is also one of writers with CCH, a 
worldwide prestigious publisher on taxation, accounting and law. Mr. Lee gained his 
bachelor degree from Zhejiang University in 1990 and MBA degree from Tsinghua 
University in 1998.

Reservations for the event will be taken on a first-come first-served basis. 
Please register with us in advance. If you have registered and discover that you 
cannot make the event please give us at least 48 hours notice. Thank you. 

To guarantee your place simply register at www.pek.britcham.org or contact 
Eva Zhou  by June 6th 2006, @ britcham@pek.britcham.org, 
F (010) 8525 1100, T (010) 8525 1111 ext. 707

We look forward to seeing you there!