Deloitte China will set up a new global office, increase headcount and invest in technology to support its Chinese clients’ global expansion while helping them navigate geopolitical tensions. “The current U.S.-China tariff dispute presents a golden opportunity for Chinese companies to truly go global,” said Dora Liu, who took over as CEO of Deloitte China for the next four years. “We see a trend of Chinese companies now expanding to Southeast Asia, the Middle East and Central Europe.” She is the first woman to lead Deloitte China, taking over from Patrick Tsang, who has become a Senior Partner of the firm. Chinese companies are increasingly seeking new supply chains and new markets amid the U.S.-China trade war. Liu said uncertainties would bring new opportunities. She planned to establish a global office at Deloitte China, involving dozens of regional and global partners and staff to help multinational clients and mainland Chinese companies achieve their global goals. The partners and staff who will be part of this global office will continue to be based in their respective offices in different markets, but they will be available to offer their services to Chinese clients.
“Deloitte has a footprint in more than 150 markets all over the world, and many of our professionals are bilingual, who understand local tax, accounting and legal regulations,” she said during a recent visit to Hong Kong. “We can help Chinese companies expand in these markets,” she said. Liu joined Deloitte’s Shanghai office in April 1993. She has also worked in the firm’s Tokyo and New York offices – experiences that deepened her understanding of the importance of providing a global support network for Chinese clients intending to expand internationally while also attracting foreign investment into China. “Under the new geopolitical landscape, the Deloitte China global office can work with these multinational companies and help them implement their new China strategy, from data security to information technology,” she said.
Liu said Hong Kong would play an important role as a gateway for Chinese companies to go global as well as for international firms to enter the mainland. “We definitely have a plan to recruit talent in Hong Kong and the mainland,” she said. “We will also invest in technology and artificial intelligence to enable our staff to enhance the quality and efficiency of our services to clients.” Over the next four years, Liu said she would like Deloitte China to help clients raise capital and establish family offices to manage their investments and succession planning. “Given the current economic challenges, we have to look through the mist and look forward to building a business for tomorrow,” she said, as reported by the South China Morning Post.
