In 1992, KPMG Huazhen (Special General Partnership) (KPMG) was founded, making KPMG the first international accounting network to be granted a joint venture license in mainland China. KPMG is a global network of professional services firms providing audit, tax, and advisory services. It operates in 154 countries and territories and has 200,000 people working in member firms around the world.
The Hong Kong firm can trace its origins to 1945. This early commitment to this market has been the foundation for accumulated industry experience and is reflected in KPMG’s appointment for multi-disciplinary services by some of China’s most prestigious companies. 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 August 1, 2012.
With the Belt and Road Initiative carried forward and various incentives rolled out, many companies face numerous challenges in terms of supply chain management, channel and customer development, and establishing and maintaining government relations. KPMG assists its long-term clients in addressing these challenges and overcoming the lack of experience and management personnel. At the same time, KPMG guides Chinese companies to establish a unified strategy with systematic thinking and planning. KPMG encourages companies to seek methods besides ownership, including looking for local partners, forming alliances with third-party business partners, introducing financial investors, “going global in group,” and other ways to enter the market. By changing their ways of thinking, KPMG helps Chinese enterprises to achieve the objective of entering markets of the Belt and Road Initiative.
In addition and in order to help more enterprises to avoid the pitfall and achieve their business objectives faster, KPMG experts conduct in-depth analysis of the investment environment and industrial chain condition for full consideration, and select the dominant industrial chain most likely to form synergy as the key to market entry.
We believe that in the future, in line with the goals of the Belt and Road Initiative, KPMG will make full use of its advantages to provide audit, tax, and advisory services for more Chinese enterprises to access new markets.