KPMG, a global network of professional firms providing audit, tax and advisory services, will open an office in Chengdu, capital of southwestern Sichuan province.

The office, a branch of the KPMG Advisory (China) Limited, obtained a local business license in August of this year and will hold an opening ceremony on Sept. 25.

The office will offer advisory services including finance, tax, business, investment, corporate management, international economic advisory and market research.

David Ko, Senior Partner for KPMG Chengdu office said that the economic growth of China's western region, in particular the growth of private enterprises, will help stimulate demand for professional services, including financial advisory and tax advisory services.

The new office will be established with more than 40 professionals, with more employees coming from the region, said Ko.

The new office will position KPMG to serve the rapidly expanding market of Chinese state-owned and private enterprises and those multinationals that are expanding their operations to western China, said John Harrison, KPMG's Chairman for the Chinese mainland and Hong Kong.

According to Harrison, the Chinese government's western development strategy makes Chengdu an ideal starting point for investing in the western region.

KPMG, one of the four major accounting firms together with Deloitte & Touche, Ernst & Young and PwC, was the first international accounting firm to be granted a joint venture licence in China in 1992.

KPMG in China has nine offices, located in Beijing, Qingdao, Shanghai, Chengdu, Hangzhou, Guangzhou, Shenzhen, Hong Kong and Macau.

Source: Xinhua