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Last updated at: (Beijing Time) Sunday, December 15, 2002

KPMG International to Expand Business in China

KPMG International, one of the world's largest accounting firms, is to expand its business in China.


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KPMG International, one of the world's largest accounting firms, is to expand its business in China.

Mike Rake, chairman of KPMG International, said China was of great importance to his company's future global business, so the company planned long-term investment and concentrated development in the Chinese market, in a bid to build a world-class business.

Rake and other members of the board of KPMG held meetings in Shanghai this week to discuss KPMG's strategic orientation and action plan for China.

Rake predicted that in the next decade, KPMG operations in China would become one of the company's biggest business arms. KPMG would also establish new branches in west China.

With China's entry into the World Trade Organization (WTO) and the expansion of the country's opening-up, more multinationals would be attracted to China's vast market.

It was necessary for KPMG to provide services to multinationalsand to others which would emerge from China's economic development,said Rake.

China Merchants Bank, China Mobile, China Telecom, China Southern Airlines and Sinopec were already customers of KPMG.

KPMG opened its first Chinese mainland office in Beijing in 1983. It now has offices in Guangzhou, Hong Kong, Macao, Shanghaiand Shenzhen. The first Sino-KPMG joint venture accounting firm on the Chinese mainland was established in 1992.


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