Does XBRL Promote the Development of China's Capital Market?

摘要

XBRL is a financial reporting language,Which is based on XML. Since 2003 we has tried to use financial reporting based on XBRL for listed company disclosure in China.This article mainly stands on the perspective of small investors,using empirical research methods to investigate whether XBRL reduced the level of information asymmetry in China's capital market or not,And further explaining XBRL promotes the rational allocation of resources in China's capital market and provided a guarantee for China's capital market having a rapid and stable development.This paper generalizes the significance of the application of XBRL in China capital market,vvhile its challenges have also been summarized. The main significance of this article is finding more "deminders" for the universal application of XBRL in China.