Ernst & Young (EY) is expanding its operations in the Asian region, with a particular focus on Greater China, according to its top executive.
The global accounting and consulting giant plans to add 2,000 people in China, including Kong and Macau, the Hong Kong Economic Journal cited EY’s global chairman and chief executive Mark Weinberger as saying.
The planned additions will take the employee strength at the firm’s China arm to 12,000, according to the report.
Expansion has become necessary in view of the growing opportunities amid rising trade and investments in Asia, Weinberger said, also noting that many Chinese enterprises are tapping markets overseas.
Hong Kong will see 300 new posts being created, adding to EY’s 2,200 current staff strength in the city.
In Asia as a whole, EY aims to beef up its staff count by 15,000, from the current 32,000.
Calls by authorities for improved corporate governance standards, as well as greater transparency on issues such as tax payments, are expected to create new opportunities for firms such as EY.
Weinberger said he expects the Organization for Economic Cooperation and Development to finalize soon new rules that will seek to align corporate taxation systems with globalized business activities.
This article appeared in the Hong Kong Economic Journal on March 23.
Translation by Vey Wong
[Chinese version 中文版]
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