Global ambitions leave country short of accounting talent

China is experiencing a shortage of accountants, as more young professionals are sent by employers to work abroad, according to a new report.

CPA Australia, one of three major accounting training bodies in that country, polled 252 of its senior members based in China with many claiming that faced with tougher accounting standards in some overseas markets, Chinese companies are having to employ more skilled accountants.

Many added the situation is only likely to get worse as companies bid in the future for contracts under the country's "Belt and Road Initiative", which could see hundreds of Chinese companies potentially tackling contracts throughout Asia and Europe.