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What is The New Equation?

A community of solvers coming together in unexpected ways

Our vision for the PwC Network, fuelled by our Purpose, is to be the most trusted and relevant professional services business in the world - one that attracts the best talent and combines the most innovative technologies, to help organisations build trust and deliver sustained outcomes.

2021 marks the start of the 14th Five-Year Plan. Guided by the Plan and the Long-Range Objectives Through the Year 2035, China is fully committed to fostering a new development paradigm. It will build a Digital China, accelerate green development to realise its dual 30·60 carbon goals, and drive high-quality development towards a sustainable future. Faced with these unprecedented and historic opportunities, organisations need to react with agility and fundamentally shift their digital transformation, organisational culture, and sustainability ambitions. Their success depends on creating a virtuous circle between earning trust and delivering sustained outcomes.

PwC China unveils our plan for The New Equation strategy. We will invest RMB 8 billion in China over the next five years, rapidly expanding our use of emerging technologies, and extending all our services to meet the complex challenges facing businesses and society. In particular, we will prioritise investment in five key strategic areas that are critical to every client in today’s dynamic environment – Digital Redesign; Digital Products and Solutions; Environmental, Social and Governance (ESG); Regional Economic Clusters; and Workforce of the Future. We will empower our people to unleash their potential and co-create solutions with clients to overcome the challenges clients are facing in the new era.

With our New Equation strategy, we will continue to support and contribute to China’s major national strategies to drive towards an enduring outcome of continued growth and development for its economy.

Raymund Chao, PwC Asia Pacific and China Chairman

Delivering sustained outcomes which make a difference

Our approach embodies who we are: a community of solvers coming together in unexpected ways to deliver outcomes for organisations, their customers, stakeholders and communities, which make a positive and enduring impact right across the value chain. 

Our formula is simple: we deliver bold ideas, solutions which are human-led and tech-powered and meaningful experiences which deliver real-life results. 

You can’t buy trust - you have to earn it

Trust has never been more important. It’s the link that connects your organisation, your people, your customers, your stakeholders and the world. We know that trust isn’t something you can buy off the shelf. It’s something you earn through every interaction, every experience, every relationship and every outcome delivered.

People solving together powered by technology

The New Equation is a future that is human-led and tech-powered. For us, people and technology work hand in hand. It's about how human ingenuity combines with technology innovation and experience to deliver faster, more intelligent and better outcomes while building trust across the value chain.

Rapidly digitising and extending services to meet the complex challenges, prioritising investments in five strategic areas

PwC China is committed to professionalism and providing high-quality services. The Chinese Institute of Certified Public Accountants (CICPA) again ranked PwC China first on its ‘Top 100 accounting firms in 2020’, the eighteenth consecutive year of being number one. Looking forward, we will continue our strategy of being human-led and tech-powered, and rapidly expand our use of cloud, artificial intelligence, blockchain, big data, and other emerging technologies in our assurance, tax, and advisory practices. We are combining our deep industry and technical expertise to help our clients create new value as they access the capital markets, respond to cyber security, build resilience in their value chains, and achieve greater value creation from their transactions.

Additionally, in light of the 14th Five-Year Plan, we will focus on bringing to life a suite of five critical investments in the areas at the top of CEOs’ strategic agendas:

Digital Redesign

Change is happening at a rate never before witnessed. Businesses need new operating models that enable digital transformation of the entire organisation and achieve rapid profitable growth to break ahead of the pack in today’s fiercely competitive market.

PwC integrates industry insights, digital capabilities, alliances with digital pioneers, and practical experiences to help companies achieve their strategic priorities. From strategy through execution, innovation to profitability, organisation design of culture, operations, finance, and tax, we enable your end-to-end transformations.  

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Digital Products and Solutions

PwC China combines our unparalleled insights, cutting-edge technology, and human-centred design with dedicated digital expertise to build innovative digital products.

We navigate the regulatory, technology, data and cloud landscape in China to confidently deploy our digital products to our clients. 

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Environmental, Social and Governance (ESG)

PwC is accelerating the integration of ESG across all functions and creating value for corporations. We leverage digital tools to help create the trust and outcomes our clients are demanding and are cultivating leaders and building unified goals and culture, essential in promoting societal sustainable development in a cohesive manner.

It is imperative to set actionable sustainability goals for regulators, enterprises, academics and individuals. ESG sustainability is reshaping our future.

Find out more

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Regional Economic Clusters

Regional economic clusters are an important part of China's 14th Five Year Plan. The cluster strategy is conducive to breaking through limitations and barriers, driving the coordinated development of cities with their surrounding city clusters and promoting common prosperity. PwC is enabling urban resilience, activating new growth, and promoting regional economic clusters.

PwC provides a full suite of services for the planning, development and upgrading of regional economic clusters, including improving infrastructure and ecological environment, optimising public services and industrial development. PwC continues to help the construction and development of many regional economic clusters such as the Beijing-Tianjin-Hebei region, the Yangtze River Delta region, and the Greater Bay Area, thus driving the take-off of the national economy. 

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Workforce of the Future

The pace of change in the world today demands organisations deliver trust and sustained outcomes. The imperative to shape our workforce that is fit for the future will strengthen our capability to create holistic solutions integrating digital and human insight for our clients.

We place people at the centre of our workforce transformation. From career models, upskilling opportunities, to workspace design, we are reimagining every step of our workforce approach, creating the platform for our people to thrive personally and professionally.  

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Raymund Chao

Raymund Chao

Asia Pacific and China Chairman, PwC China

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