Qianhai’s HK company wins a bigger market

The China Center of Excellence of PwC. Courtesy of PwC

The China Center of Excellence of the world-famous accounting firm PwC has seen rapid development since its settlement in Qianhai in 2017, owing to the ideal business environment that Qianhai has offered.

Over the past three years, the number of employees of the center has expanded from 20 to about 200. Taking advantage of the policies that Qianhai offered to Hong Kong-funded companies, PwC has taken root in Qianhai to provide consulting, auditing services and other business solutions to more mainland customers and won cooperation with local governments.

Derrick Hui, director of the center of PwC said that Qianhai has attracted a large number of world-renowned enterprises and innovation-driven small- and medium-sized companies to settle in.

“Qianhai has rolled out a series of favorable policies such as the 15-percent individual income tax exemption and offered us low-rent apartments, which are beneficial for large businesses like us,” Hui said.

“Qianhai is an ideal place for the development of the global high-end service industry where we can realize our dreams at a higher level.”

Last year, PwC provided consulting services for 425 Fortune 500 companies. The Qianhai center has also served about 10,000 Hong Kong-funded enterprises over the past three years.

According to a business environment evaluation report released by PwC last year, Qianhai ranked 22nd among more than 190 economic entities worldwide. The evaluation indicators such as legal environment, innovation index and tax services have significantly improved in Qianhai.