Abstract: It is nearly 5 years since China’s entrance into WTO. Since then, the globalization of world economy has exerted a profound and far-ranging influence on China’s various fields as politics, economy, law and the like. Social environment decides accounting regulations; thus an important project currently facing China’s accounting circles is how to further reform and perfect accounting regulations and how to deal with the tide of accounting globalization under such a background of economic globalization. Reflecting from a strategic altitude, we can find that the constitution of China’s accounting regulations is in face of the redefining of its meaning, the strategic opting of its model, the strategic readjusting of its focus and the reconsidering of its basis.

Key words: China’s accounting, accounting regulations, strategic issue, WTO