(3)In April 2010 the Ministry of Finance of China issued a ‘Roadmap for Continuing Convergence of the Accounting Standards for Business Enterprises with IFRS’ (ASBE) which reiterated China’s commitment to continue the process of convergence to IFRS. As of October 2010 all current standards and interpretations issued by International Accounting Standards Board have been implemented in the ASBE. The level of convergence has been reported by ESMA as being satisfactory and the differences do not amount to non-compliance with IFRS. Therefore, it is appropriate to consider the Chinese ASBE equivalent to adopted IFRS as of 1 January 2012.