Shenzhen, 28 Mar 2017 – PwC is proud to announce the opening of its China Centre of Excellence (CC0E) in Qianhai, Shenzhen, today. Based in the Qianhai and Shekou Area of Guangdong Pilot Free Trade Zone, the CCoE will provide innovative solutions, sophisticated technology and business insight to PwC’s clients in Shenzhen and Hong Kong, as well as the broader China market.
“The China Centre of Excellence is an integral part of PwC’s development blueprint for Greater China and will boost the ecosystem of the Pilot Free Trade Zone,” says Raymund Chao, PwC Greater China Chairman. “Helping Qianhai’s development as an international industrial innovation hub also helps us meet our purpose to build trust in society and solve important problems.”
The CCoE is an important step in PwC’s transformation in China. Headquartered in Qianhai, it will share resources and collaborate with PwC Innovation Centres in Shanghai and Beijing. Southern, Central and Northern China will thus come under an overall plan and strategy.
The CCoE will leverage the strengths of the PwC network and address the development needs of different areas. It will centralise resources and help incubate start-ups, while sharing innovative solutions, advanced technology and fresh insights with both clients and staff.
“Chinese businesses are energetic and play an important role in the global economy. To maintain their creativity and competitiveness, they need world-class professional services which provide all round support,” says Elton Yeung, Strategy and Innovation Service Leader, PwC Greater China. “The CCoE will help our clients to grow and transform through technology and innovation, while supporting the development of the overall economy.”
The CCoE is committed to achieving certain goals based on its core functions of innovation, insight and education:
PwC has today signed a strategic cooperation framework agreement with Shenzhen Qianhai Financial Holding Company Limited (Qianhai Financial). PwC will leverage its global network to help Qianhai Financial fulfil its development strategy by attracting outstanding local and overseas financial enterprises. PwC will provide advisory services and carry out research for financial services firms in Qianhai. PwC will also provide innovative solutions to help establish a new financial services model in Qianhai.
PwC’s 20th Global CEO survey finds that 33% of senior executives in Mainland China and Hong Kong are “very confident” about their companies’ prospects for revenue growth over the next 12 months. China is also still considered one of the most attractive investment destinations in the world. PwC believes the establishment of the CCoE and its cooperation with Qianhai Financial could bring enormous business opportunities for both enterprises and investors.
This year marks the 20th anniversary of the Reunification of Hong Kong with China. Over the past two decades, Shenzhen and Hong Kong have become closely linked and have fostered a high degree of integration in trade and economic development. This has also led to greater cooperation between the two governments and businesses. Elton Yeung concludes: “As one of the most influential global professional services providers, PwC is dedicated to contributing to the long term economic development of Shenzhen and Hong Kong, as well as to the establishment of the Greater Bay Area. We will contribute our knowledge and our strengths in order to build an international centre for technology and industrial innovation.”
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