KPMG China has reached another important milestone by establishing its 13th mainland office in Xiamen, a major coastal city in Fujian Province. The new office, KPMG Advisory (China) Limited Xiamen Branch, will commence operations with approximately 80 professionals to provide a wide range of tax, financial advisory and business advisory services.
"This is the seventh office we have opened in China since the beginning of 2005 and it truly reflects our strong commitment to this market," said Carlson Tong, chairman, KPMG China. "Our physical presence will enable us to better serve our clients in Xiamen, an important economic zone in China. The new office will also contribute to our better service coverage in southeast China, where we already have presence in Guangzhou and Fuzhou"
Huang Ling, Vice Mayor of Xiamen, was invited as our distinguished guest at the opening ceremony on 11 October, 2010.
KPMG is a global network of professional services firms providing audit, tax and advisory services, with an industry focus. KPMG operates in 146 countries and has more than 140,000 professionals working in member firms around the world. The aim of KPMG member firms is to turn knowledge into value for the benefit of their clients, people and the capital markets.
"KPMG is pleased to announce the establishment of our new office. Our new office, supported by the Xiamen government, strengthens our business development in the Fujian region. We hope this will further enhance the economic development of Xiamen," said Peter Kung, senior partner, southern China region, KPMG China.
As one of the four original special economic zones in China, Xiamen is a city of strategic importance. According to the National Bureau of Statistics, Fujian Province's GDP ranked 12th in China in 2009; while Xiamen, as a sub-provincial city under Fujian Province, experienced growth of 8% over 2008, with GDP amounting to RMB 162.3 billion.
"We wish to be part of the growth of Xiamen, which enjoys a great geographical advantage: located at the mouth of the Jiulong River, bordering Quanzhou to the north and Zhangzhou to the south; and looking out to the Taiwan Strait," explained Peter Kung. "Many local companies have made their headquarters in the city, which is well known for its modern transportation network. We hope to assist local companies with their expansion plans, not just within China but in other overseas markets. Similarly, we would also provide support to foreign companies seeking to build their foothold in Xiamen."
William Cheung, senior partner, KPMG in Xiamen, also hailed the great opportunities that Xiamen has to offer. "Xiamen is one the major investment locations for foreign companies in China. It has more Taiwan investment than any other mainland cities, partly because of the close distance and also because Taiwanese is a dialect of Minnan, which is spoken in southern Fujian." said Mr. Cheung. "The city government has offered preferential policies for new enterprises and is committed to attracting high quality talent to work in Xiamen."
He also went further to acknowledge the importance of having the support of the local government. "Our successful office opening would not have been possible without the assistance from the Xiamen Municipal Government. In turn, KPMG will make every effort possible to contribute to the social and economic growth of the city."
"Xiamen is a city of growth with ample business opportunities. We are confident that KPMG and Xiamen will move together from strength to strength. Our plan is to further expand our service team to support our growth in the Fujian Province. To help nurture talent in the city, KPMG will recruit staff from local universities and will provide them with comprehensive training and development opportunities," Mr. Kung added.
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Notes to editors
KPMG Advisory (China) Limited, Xiamen Branch was issued a Xiamen business licence by the Xiamen Administration for Industry and Commerce on 23 July 2010.
KPMG Advisory (China) Limited's scope of business, in accordance with its business licence, is financial advisory, tax advisory, business advisory, investment advisory, corporate management advisory, international economic advisory and market research (operating under license subject to government approval).
KPMG Advisory (China) Limited, Xiamen Branch12th Floor, International Plaza8 Lujiang RoadXiamen 361001, China
Tel : +86 (592) 2150 888
Fax : +86 (592) 2150 999
Senior Partner: William Cheung
For more information, please visit our website: kpmg.com/cn
KPMG is a global network of professional firms providing Audit, Tax and Advisory services. We operate in 146 countries and have more than 140,000 professionals working in member firms around the world.
The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.
About KPMG China
KPMG China has 13 offices (including KPMG Advisory (China) Limited) in Beijing, Shenyang, Qingdao, Shanghai, Nanjing, Chengdu, Hangzhou, Guangzhou, Fuzhou, Xiamen, Shenzhen, Hong Kong and Macau, with more than 9,000 professionals.
In 1992, KPMG became the first international accounting firm to be granted a joint venture licence in China, and our Hong Kong SAR operations have been established for over 60 years since 1945. This early commitment to the China market, together with our unwavering focus on quality, has been the foundation for accumulated industry experience, and is reflected in our appointment by some of the China's most prestigious companies.
As China businesses join the global economy and international companies seek to enter the China market, KPMG's blend of international experience and local knowledge makes us well-positioned to serve our clients in this increasingly complex, but exciting market.
Our single management structure for all our China offices allows efficient and rapid allocation of experienced professionals wherever the client is located in China. The flexibility of this single structure allows us to effectively serve companies across China - and we have many projects where professionals from different offices work together on a project under the supervision of a single nominated client partner, who has operational control of all resources.
Our business in China has established industry groups, enabling targeted, industry-specific experience and solutions to be delivered where needed. For our clients, this focus on industry and country specific knowledge means we can deliver exceptional people with an intimate knowledge of your specific business issues, as well as an overriding commitment to strive for the highest quality services.