We are pleased to announce that the Ministry of Finance of the People’s Republic of China (“MOF”) has approved on 5 July 2012 the conversion of KPMG Huazhen to a special general partnership ( “SGP” ). KPMG Huazhen will be the first firm to convert from a joint venture firm to an SGP.
We would like to thank the MOF, the State Administration of Industry and Commerce, the Ministry of Commerce, State Administration of Foreign Exchange, China Securities Regulatory Commission, State Administration of Taxation, the Chinese Institute of Certified Public Accountants, and other relevant government authorities which have given us their full support in the run up to the approval.
As an SGP, KPMG Huazhen will uphold our core values in integrity, insight and quality services. We will continue to deliver quality professional services to our clients, cultivate multi-disciplinary talent, and contribute to China’s economic progress and the development of its accounting industry for the benefit of our clients, employees, the capital markets, investors, regulators and society as a whole.
- Ends -