KPMG Honson To: Free Trade and Economic Globalisation Are Irreversible Trends

Free Trade and Economic Globalisation...

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The 2019 Winter Davos will take place in Switzerland from 22 to 25 January. The theme this year is “Globalisation 4.0: Building a Global Architecture for the Fourth Industrial Revolution.” As a global strategic partner of the World Economic Forum, KPMG will be represented by partners from around the world, including Vice Chairman Andrew Weir and Audit Partner Tracy Yang of KPMG China. The Forum this year will focus on how Globalisation 4.0 brings inclusiveness and development to the world. Representatives from governments, international organisations and corporations from all over the world will discuss the opportunities and challenges presented by this change. 

Honson To, Chairman of KPMG Asia Pacific and KPMG China, said: We are entering a new stage of global cooperation. Economic globalisation has been a strong impetus for global economic growth. Free trade and economic globalisation are irreversible trends. China has benefited from and contributed to economic globalisation, and has played an active part in globalisation and the international division of labour. By promoting the Belt and Road Initiative and strengthening regional economic cooperation, China is promoting multilateral cooperation and diversified trade. Chinese leaders are committed to reform and opening up. Policies and measures which show the government’s commitment and determination in this regard are being introduced on an ongoing basis.  

In addition, the Fourth Industrial Revolution has catalysed a new form of economy and globalisation. Technological changes are taking place at an unprecedented rate, providing a driving force for Globalisation 4.0. Information technologies are exerting a fundamental impact on the services sector. Andrew Weir, Vice Chairman of KPMG China, said: Artificial intelligence is creating new markets and opportunities, and is also reshaping traditional industries. This is both a challenge and an opportunity for KPMG. We have always regarded digitalisation as one of our key strategies, and applied emerging technologies such as big data, cloud computing, and artificial intelligence to promote organisational transformation and the reshaping of businesses.

In the context of Globalisation 4.0, KPMG has been serving Chinese companies to go global in recent years. KPMG Audit Partner Tracy Yang said: Under China’s sponsorship the Belt and Road is becoming an important new driving force for globalisation in today’s new international environment. To better serve Chinese companies, KPMG has established the Global China Practice, and set up professional teams in nearly 60 global investment hot spots to provide one-stop services for SOEs and support their ambitions abroad. In the future, KPMG will adopt new technologies and models to drive innovation and development and help more businesses unlock their potential and grow into global companies. 

 

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About KPMG China

KPMG member firms and its affiliates operating in Mainland China, Hong Kong and Macau are collectively referred to as “KPMG China”.

KPMG China is based in 21 offices across 19 cities with around 12,000 partners and staff in Beijing, Changsha, Chengdu, Chongqing, Foshan, Fuzhou, Guangzhou, Hangzhou, Nanjing, Qingdao, Shanghai, Shenyang, Shenzhen, Tianjin, Wuhan, Xiamen, Xi’an, Hong Kong SAR and Macau SAR. Working collaboratively across all these offices, KPMG China can deploy experienced professionals efficiently, wherever our client is located. 

KPMG is a global network of professional services firms providing Audit, Tax and Advisory services. We operate in 153 countries and territories and have 207,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such. 

In 1992, KPMG became the first international accounting network to be granted a joint venture licence in mainland China. KPMG was also the first among the Big Four in mainland China to convert from a joint venture to a special general partnership, as of 1 August 2012. Additionally, the Hong Kong firm can trace its origins to 1945. This early commitment to this market, together with an unwavering focus on quality, has been the foundation for accumulated industry experience, and is reflected in KPMG’s appointment for multi-disciplinary services (including audit, tax and advisory) by some of China’s most prestigious companies.

© 2022 KPMG Huazhen LLP, a People's Republic of China partnership, KPMG Advisory (China) Limited, a limited liability company in Mainland China, KPMG, a Macau (SAR) partnership, and KPMG, a Hong Kong (SAR) partnership, are member firms of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

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For more detail about the structure of the KPMG global organisation please visit https://home.kpmg/governance.

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