In line with international standards,  the Companies Ordinance of Hong Kong, China requires all locally-incorporated companies to maintain accounting records, financial statements, and audits of companies in accordance with Generally Accepted Accounting Principles (GAAP), statements of standard accounting practice developed by the Financial Accounting Standards Committee of the Hong Kong Society of Accountants, and accounting and disclosure requirements for listed companies on the Hong Kong Exchanges and Clearing (HKEx). In cases where there are no existing statutory standards, accountants look to principles issued by the International Accounting Standards Board and practices set by professional bodies in other countries, particularly in the United Kingdom and the United States.

Hong Kong, China’s insolvency laws are set out in provisions of the Companies Ordinance and the Bankruptcy Ordinance .Out-of-court restructuring, schemes of arrangements, compulsory liquidations, creditor’s voluntary liquidations, and receiverships are defined under the insolvency regulations. The Asia-Pacific Restructuring and Insolvency Guide 2006, which is linked below, details the restructuring and insolvency framework of Hong Kong, China.

The Winding-up (or liquidation) law applies primarily to companies and is contained in the Companies Ordinance. The full text of the Companies Ordinance can be found by following the link provided below.

The World Bank's Doing Business Survey assesses data on business closures as well as on contract enforcement. Results for Hong Kong, China can be found through the link below.

The Securities and Futures Commission (SFC) is the principal regulator of the securities and futures markets. It approves licenses for market professionals, issues codes and guidelines governing industry standards of conduct, and investigates and adjudicates cases of market misconduct or legal violations. Individuals and corporations applying for a license to provide securities, futures, or foreign exchange services must satisfy the SFC’s Fit and Proper Guidelines, which set standards of conduct for applicants.