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The Statue of Yu the Great on Kuaiji Mountain in Yuecheng district, Shaoxing. The legendary ruler of the Xia Dynasty (2070 BC-1600 BC) is known for harnessing floods and pioneering China's accounting culture. [Photo/VCG]

The 2020 Accounting Culture Seminar will take place in Shaoxing, Zhejiang province on Nov 28.

Shaoxing is commonly believed to be the birthplace of China's accounting culture, according to the Shiji, or Book of History, written by Sima Qian of the Han Dynasty (206 BC- AD 220).

The book records that, about 4,000 years ago, legendary Xia Dynasty (2070 BC-1600 BC) ruler Yu the Great summoned all the dukes and princes to Shaoxing's Kuaiji Mountain and evaluated their performance by auditing regional statistics related to tributes and taxation.

The gathering in Shaoxing was the earliest conference on accounting and finance in the history of China.

The mountain's name Kuaiji is a homophone of the Chinese word kuai ji (会计), which means accounting. This phonological phenomenon suggests a strong connection between Shaoxing and accounting culture.

A poster for the 2020 Accounting Culture Seminar to be held in Shaoxing on Nov 28. [Photo/shaoxing.com.cn]

The Shaoxing seminar on Nov 28 is being jointly organized by the municipal finance bureau of Shaoxing and China Accounting News and will take a look back on the history of accounting as well as innovation in the new era.

"The legend of Yu the Great motivates the city to be honest, precise, practical, and innovative," said a spokesperson for the municipal finance bureau.

Shaoxing values its role as the birthplace of China's accounting culture. Over the past three years, the municipal finance bureau has trained over 23,000 accountants and accountant assistants. To date, the city is home to around 130,000 accounting professionals.

The Kuaiji & Accounting Exhibition will also start on Nov 28 at the Da Yu Memorial Museum, which opened on Nov 12. Ancient coins and accounting documents from across the county will be on display.

An ancient coin used in Shaoxing during the Southern Song Dynasty (1127-1279). [Photo/shaoxing.com.cn]