The Ministry of Finance of the People’s Republic of China (MOF) has recently approved the opening of three offices by KPMG Huazhen (Special General Partnership) in Chengdu, Xiamen and Qingdao.
The Ministry of Finance of the People’s Republic of China (MOF) has recently approved the opening of three offices by KPMG Huazhen (Special General Partnership) in Chengdu, Xiamen and Qingdao. Localisation has been one of the basic strategies of KPMG China’s operations. The approval for the opening of the three offices shows that the localisation transformation programme has accelerated KPMG Huazhen’s development and that our perseverance and active promotion of localisation have again borne results.
Stephen Yiu, Chairman of KPMG China, is delighted with the approval of the new offices and made the following comments: “KPMG Huazhen was the first international accounting firm to be granted a joint venture licence in China in August 2012. In the short span of two years, the firm has opened three offices, which demonstrates the positive effect of the localisation transformation programme on our business development in China. The MOF’s approval for the opening of three offices by KPMG Huazhen has enabled us to take the lead in reaping the fruitful harvest of the programme.”
John B. Veihmeyer, Global Chairman of KPMG International, also spoke positively of the firm’s development in the China market, describing it as one of the firm’s most vital markets in emerging economies, and one that offers a good environment and enormous opportunities.
When the MOF and other government departments jointly issued the Sino-foreign Joint Venture Accounting Firms Localisation Transformation Programme two years ago, KPMG Huazhen responded positively by being the first among the big four to submit an application and obtain approval from the regulators. Previously, Stephen Yiu commented that the localisation transformation programme provided a clear direction for the localisation of KPMG and would have a positive effect on helping us further develop our business and accelerate the progress of our localisation. Our rapid and sound development in the past two years has proved that the localisation transformation programme is the best solution.
Given the increasing importance of our global network, KPMG Huazhen continues to cultivate its multi-disciplinary talent, and is stepping up its efforts in information technology construction and the improvement of accounting and audit standards. The approval for the opening of three new offices will greatly boost our morale and confidence in developing our business in China. KPMG Huazhen will continue to uphold our core values on quality and strive to meet the expectations of the market, public and regulators.
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Notes to editors
Chengdu Administration Bureau for Industry & Commerce issued a business license (special general partnership) to the Chengdu office of KPMG Huazhen on 8 October 2014. Xiamen Administration Bureau for Industry & Commerce issued a business license (special general partnership) to the Xiamen office of KPMG Huazhen on 13 October 2014. Qingdao Administration Bureau for Industry & Commerce issued a business license (special general partnership) to the Qingdao office of KPMG Huazhen on 14 October 2014.
KPMG Huazhen (Special General Partnership), Chengdu office
18th Floor, Tower 1, Plaza Central
8 Shuncheng Avenue
Chengdu 610016, China
Tel: +86 (28) 8673 3888
Fax: +86 (28) 8673 3838
Partner in charge: Jason Lin
KPMG Huazhen (Special General Partnership), Xiamen office
12th Floor, International Plaza
8 Lujiang Road
Xiamen 361001, China
Tel +86 (592) 2150 888
Fax +86 (592) 2150 999
Partner in charge: May Wang
KPMG Huazhen (Special General Partnership), Qingdao office
4th Floor, Inter Royal Building
15 Donghai West Road
Qingdao 266071, China
Tel: +86 (532) 8907 1688
Fax: +86 (532) 8907 1689
Partner in charge: Johnny Lei
For more information, please visit our website (www.kpmg.com/cn).
KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 155 countries and have more than 155,000 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. Each member firm is a separate legal entity.
KPMG China has 16 offices in Beijing, Shanghai, Tianjin, Shenyang, Nanjing, Hangzhou, Fuzhou, Xiamen, Qingdao, Guangzhou, Shenzhen, Chengdu, Chongqing, Foshan, Hong Kong SAR and Macau SAR, with around 9,000 people.