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| Last updated at: (Beijing Time) Wednesday, November 14, 2001 |
Global Accounting Giant Eyes Chinese Market |
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China's entry into the World Trade Organization (WTO) has lured many multinational conglomerates including the global accounting giant Andersen.
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China's entry into the World Trade Organization (WTO) has lured many multinational conglomerates including the global accounting giant Andersen.
Joe F. Berardino, managing partner and chief executive officer of Andersen, said during a recent visit to Beijing that the firm was turning its business focus to China in the foreseeable future.
Andersen's business in China has seen rapid progress in recent years with chances for further development now after China's WTO entry, he said.
Andersen has been active in the Chinese mainland since 1979. It has set up six representative offices in the Chinese mainland, which has become the second largest market following Japan in the Asia-Pacific Region.
More than half its mainland clients are local enterprises.
The accounting firm has snapped some 9.3 billion US dollars from September 1, 2000 to August 31, 2001, with 15 to 20 percent from its consulting business.
Berardino predicted that demand for capital, human resources and structure improvement solutions will merge.
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