KPMG Chairman Timothy P. Flynn told the China Chamber of Commerce that his firm has been growing dramatically in China.
"In the last few years, KPMG in China has more than tripled its staff to 7,000 employees in 11 locations, and plans to grow to about 9,000 in the next two years," he said.
KPMG also has hired 650 Chinese nationals to work in the U.S. at the firm. It has a dedicated U.S. China practice with teams assigned to its tax, audit and advisory businesses. In addition, Flynn noted, KPMG is working with more than 75 Chinese companies that are in the process of going public.
The KPMG executive team recently visited China and heard how partnering with U.S. businesses had been helpful.
"People told us that to be successful in the U.S., Chinese firms and local Chinese governments need effective partners with deep industry knowledge to help provide in-depth understanding of the local markets and the ability to help navigate legal and legislative matters," said Flynn. He praised China's average annual growth rate of 10 percent and predicted that China would experience rapid growth for another 15 years.
