KPMG Enters Zhengzhou — Planting Its Roots in the CPEZ and Driving Opening-up and Development in Henan Province
KPMG Enters Zhengzhou
KPMG Advisory (China) Limited held the opening ceremony for its Zhengzhou office on 6 August 2019 in Zhengzhou.
KPMG will capitalise on its global network, international perspective, and professional services to help the city draw more international and world-renowned enterprises to the Central Plains Economic Zone (CPEZ), to help add investment value to local enterprises in the global capital market, to facilitate the province’s pursuit of its “Three Zones and One City Cluster” program and to help the city develop into a national central city.
Henan province ranks fifth in GDP among China’s provinces and is seeing stable economic development. Zhengzhou, as the capital city of the province, plays a strategic part in implementing the “Three Zones and One City Cluster” program and serves as a modern integrated transportation hub for the Belt and Road initiative. With the help of multiple national strategies, the province and the entire Central China region are sure to unleash their economic potential even faster, which will present remarkable market and growth opportunities to both domestic and foreign enterprises.
Jacky Zou, Vice Chairman of KPMG China, said, “Entering Zhengzhou is an important strategic move for KPMG in China. Without a doubt, Zhengzhou holds an outstanding economic position in the CPEZ and even across the entire country. KPMG will use its expertise to help local governments and enterprises go global while also helping foreign enterprises enter China more quickly. At the same time, we will work to improve the local business environment and cultivate local professionals.”
KPMG has a history of delivering services to many local enterprises in Henan province, even before establishing an official business presence in Zhengzhou. For example, we assisted Henan Jianye, Lingbao Gold, Fusen Pharmaceutical, and Zhongyuan Bank in their efforts to IPO on the main board in Hong Kong. We also assisted Bank of Zhengzhou in becoming the first city commercial bank to issue both A and H shares, and we have carried out in-depth cooperation with local governments and other enterprises and institutions in Henan.
Jason He, Chief Partner of KPMG China’s Zhengzhou office, said, ”Entering Zhengzhou and planting our roots in Central China will allow KPMG to access a broader market. Apart from offering traditional services in the areas of financial statement audit, IPO audit, and tax advisory, we will also deliver one-stop services and solutions covering management advisory, M&A advisory, risk advisory, as well as technology and data advisory, so as to help Zhengzhou and Henan province’s governments and enterprises attract investment. We also look forward to employing leading business philosophies to boost the growth of local enterprises. In addition to serving traditional industries, we will also keep a close eye on enterprises that are seeking technological innovations, and we will strive to contribute to inspiring local innovative enterprises.”
“KPMG is very optimistic about the economic prospects of Henan province, and we are impressed by the pace of development here in recent years,” said Jacky Zou. He noted, “KPMG is working with the China (Henan) Free Trade Pilot Zone to realise a series of achievements that meet international standards and serve as benchmarks for other trade zones, in order to turn the zone into a new model of development for central and western China. We look forward to gaining a foothold in Zhengzhou and offering our services throughout the entire CPEZ to help Zhengzhou drive the development of other regions as a metropolis.”
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 23 offices across 21 cities with around 12,000 partners and staff in Beijing, Changsha, Chengdu, Chongqing, Foshan, Fuzhou, Guangzhou, Haikou, Hangzhou, Nanjing, Qingdao, Shanghai, Shenyang, Shenzhen, Tianjin, Wuhan, Xiamen, Xi’an, Zhengzhou, 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.
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