AFTER 15 years of negotiations, China has reached agreement on the terms of its accession to the World Trade Organisation, thereby opening the way for British accountancy firms to set up shop in the world's most populous market.

Under the deal finalised this week, foreign accountants and other professional service providers will be able to hold majority control of businesses in China. While the main focus is likely to be on global accounting, the EU has secured rights for foreign-owned firms to have entrustment relations with their ...

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