KPMG China has reached another important milestone by establishing its 13th mainland office in Xiamen, a major coastal city in Fujian Province. The new office, KPMG Advisory (China) Limited Xiamen Branch, will commence operations with approximately 80 professionals to provide a wide range of tax, financial advisory and business advisory services.
"This is the seventh office we have opened in China since the beginning of 2005 and it truly reflects our strong commitment to this market," said Carlson Tong, chairman, KPMG China. "Our physical presence will enable us to better serve our clients in Xiamen, an important economic zone in China. The new office will also contribute to our better service coverage in southeast China, where we already have presence in Guangzhou and Fuzhou"
Huang Ling, Vice Mayor of Xiamen, was invited as our distinguished guest at the opening ceremony on 11 October, 2010.
KPMG is a global network of professional services firms providing audit, tax and advisory services, with an industry focus. KPMG operates in 146 countries and has more than 140,000 professionals working in member firms around the world. The aim of KPMG member firms is to turn knowledge into value for the benefit of their clients, people and the capital markets.
"KPMG is pleased to announce the establishment of our new office. Our new office, supported by the Xiamen government, strengthens our business development in the Fujian region. We hope this will further enhance the economic development of Xiamen," said Peter Kung, senior partner, southern China region, KPMG China.
As one of the four original special economic zones in China, Xiamen is a city of strategic importance. According to the National Bureau of Statistics, Fujian Province's GDP ranked 12th in China in 2009; while Xiamen, as a sub-provincial city under Fujian Province, experienced growth of 8% over 2008, with GDP amounting to RMB 162.3 billion.
"We wish to be part of the growth of Xiamen, which enjoys a great geographical advantage: located at the mouth of the Jiulong River, bordering Quanzhou to the north and Zhangzhou to the south; and looking out to the Taiwan Strait," explained Peter Kung. "Many local companies have made their headquarters in the city, which is well known for its modern transportation network. We hope to assist local companies with their expansion plans, not just within China but in other overseas markets. Similarly, we would also provide support to foreign companies seeking to build their foothold in Xiamen."
William Cheung, senior partner, KPMG in Xiamen, also hailed the great opportunities that Xiamen has to offer. "Xiamen is one the major investment locations for foreign companies in China. It has more Taiwan investment than any other mainland cities, partly because of the close distance and also because Taiwanese is a dialect of Minnan, which is spoken in southern Fujian." said Mr. Cheung. "The city government has offered preferential policies for new enterprises and is committed to attracting high quality talent to work in Xiamen."
He also went further to acknowledge the importance of having the support of the local government. "Our successful office opening would not have been possible without the assistance from the Xiamen Municipal Government. In turn, KPMG will make every effort possible to contribute to the social and economic growth of the city."
"Xiamen is a city of growth with ample business opportunities. We are confident that KPMG and Xiamen will move together from strength to strength. Our plan is to further expand our service team to support our growth in the Fujian Province. To help nurture talent in the city, KPMG will recruit staff from local universities and will provide them with comprehensive training and development opportunities," Mr. Kung added.
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