KPMG China formally opened its Tianjin office on 9 October 2013. This is KPMG’s 15th office in China and represents another key commitment we make to the China market.
Stephen Yiu, Chairman of KPMG China, spoke about the significance of this milestone. “KPMG highly values the China market, and we have and will continue to invest significant resources into developing our service network. Tianjin, also known as the ‘Pearl of the Bohai Sea’, is one of China’s key economic hubs, and the third pillar of China’s economic growth. Naturally, it is very important to KPMG’s China strategy. We have seen a clear acceleration of economic growth in Tianjin in recent years, and a rapid expansion of its economy. Tianjin is now an important base of many large companies comprising of multinationals, private and state-owned enterprises. The opening of Tianjin office will enable us to better serve our clients and continue to contribute to the rapid economic development of Tianjin.”
Situated at the heart of the Bohai Economic Rim, Tianjin has been one of the most developed cities of modern China. In 2006, the State Council envisioned the city as an economic centre of the Bohai Economic Rim, an international port, northern China’s economic hub, and an ecological city. The State Council set the goal to “push forward the development and opening up of the Binhai New Area” as part of the national strategies and set it out in the 11th Five-Year Plan, thus turning the area into a National Pilot Zone for Overall Reform. In 2009, Binhai New Area became an administrative district, and since then it has experienced rapid economic growth. For five consecutive years starting from 2007, Tianjin ranks amongst the top three Chinese cities in terms of GDP growth, leading the race for three years in a row.
Edwin Fung, Senior Partner of KPMG Northern China, commented on the economic development of the city: “Tianjin experienced a sustained and rapid economic growth during the 11th Five-Year Plan period. It took great steps forward in structural adjustment of industries, further enhancements in planning and construction and significant increase in social and economic activities. Tianjin has entered a boom period with a leading role in the regional economy.”
“In addition to attracting investments from renowned domestic and foreign companies and influential private enterprises, Tianjin’s strong development momentum has propelled it to become the preferred location for a number of national projects,” Edwin continued. “We are therefore delighted to open this new office. We will offer consistently high-quality services to domestic and foreign enterprises investing in Tianjin by leveraging on our deep industry knowledge and extensive experience of serving the business community in the region.”
Senior Partner of KPMG Tianjin office, Philip Ng, explained that the new office will be a premium professional services platform with KPMG’s cutting-edge delivery standards. It will focus on providing clients in the region with a full range of investment and advisory services, including IPO related services, merger and acquisition and management consulting.
“At the same time, we have noticed a rising trend for Tianjin-based enterprises to expand their business overseas with more than 30 percent of them now have investments overseas,” explained Philip. “Establishing an office in Tianjin can help us better understand their investment needs, respond more quickly, and mobilise KPMG professionals across China as well as over 150 countries worldwide to provide prompt professional advices for their overseas investments.”
Stephen Yiu further added, “The Chinese Government aims to develop Tianjin into an international port, northern China’s economic hub, and an ecological city by 2020,” sharing the same vision for the city’s future. “Tianjin is a metropolitan city full of business opportunities, and we will continue to expand our service team to support its development. We believe that Tianjin and KPMG will grow together in our quest for a better future.”
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The State Administration for Industry and Commerce in Binhai New Area, Tianjin issued a business licence to KPMG Advisory (China) Limited Tianjin Branch on 12 July 2013.
According to the business licence, the business scope of KPMG Advisory (China) Limited Tianjin Branch spans financial advisory, tax advisory, business advisory, international economic advisory and market research (a Special Trade Licence should be obtained if a business within this scope requires such a licence, and the business must not continue when the licence expires; if an exclusive business licence is required, the relevant rules need to be followed).
KPMG Advisory (China) Limited Tianjin Branch
Room 4715, Tianjin World Financial Center
No. 2, Dagu North Road, Heping District, Tianjin
Tel: +86(22) 2329 6238
Fax: +86(22) 2329 6233
Senior Partner: Philip Ng
For more information, please visit KPMG China’s website: www.kpmg.com/cn