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What does China mean for your business?

China’s rapid economic growth has made it one of the world’s largest economies today and this growth looks set to continue.

It is likely that China will remain unmatched by other developing countries for many years to come, in terms of efficiency of government administration such as tax rebates and customs clearance as well as infrastructure such as roads, rail, and ports. Nevertheless, Chinese wages are rising, no longer making it as cheap as it once was to outsource manufacturing. There is a clear shift up the manufacturing value chain. Analysts say that in this era of rising wages the biggest winners are likely to be in China’s service sector – including tourism, online shopping, healthcare, and financial services.

KPMG’s extensive network and Global China Practice offer a number of services to help you address the challenges of expanding into China to take advantage of its economic growth.

 

KPMG Global China Practice

KPMG's Global China Practice (GCP) was established in September 2010 to assist Chinese businesses that plan to go global, and multinational companies that aim to enter or expand into the China market. The GCP team in Beijing comprises senior management and staff members responsible for business development, market services, and research and insights on foreign investment issues.

There are currently nearly 60 China Practices in key investment locations around the world. These China Practices comprise locally based Chinese speakers and other professionals with strong cross-border China investment experience. They are familiar with the Chinese local culture and business practices, allowing them to effectively communicate between member firms' Chinese clients and local businesses as well as government agencies.

 

KPMG UK-China Practice

The UK-China Practice assists UK companies with China entry and expansion plans, and advises on both inbound and outbound China investments and trade. This UK-based team can also assist with matters across the investment and trade life cycle, including market entry strategy development and implementation, including due diligence, location studies, investment holding structuring, tax planning and compliance, supply chain management, M&A advisory and post-deal integration. The UK-China Practice enjoys strong relations with both British and Chinese Governments and can serve as an additional channel of communication. KPMG also offers legal services to complement many of these service offerings.

 

KPMG in China

KPMG is a global network of professional firms providing Audit, Tax and Advisory services. We operate in 155 countries and have more than 162,000 people working in member firms around the world.

KPMG demonstrated an early commitment to the China market. In 1992, KPMG became the first international accounting network to be granted a joint venture license in Mainland China. It is also the first Big Four accounting firm in Mainland China to convert from a joint venture to a special general partnership, as of 1 August 2012. The firm’s Hong Kong operations have additionally been established for over 60 years.

Today, KPMG China has around 9,000 professionals working in 16 offices: Beijing, Chengdu, Chongqing, Foshan, Fuzhou, Guangzhou, Hangzhou, Nanjing, Qingdao, Shanghai, Shenyang, Shenzhen, Tianjin, Xiamen, Hong Kong SAR and Macau SAR.

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