1、KPMGEXCCUtINTaent in tneSpotightEmployment Trends Surveyand SalaryOutlookThird Edition23发意福KPMG Executive Search andRecruitment S Talent in the SpotlightAbout KPMG EXeCutive SearchandReCruitment ServicesWearea business unit of KPMG with over 20 years of experience serving clients across a wide range

2、 offunctions and industries.This sets us apartfrom te competitionaswe are able to drawon the firmsprofessional expertise and deep knowledge baseWorking alongside a professional group of advisors, we provide recruitment services as well as insights onthe latest human resources and market developments

3、 across a variety of businesses and professions.We offer our clients:A personal， long-termA wide range ofA prestigious brandrelationshipcustomised servicesOur brand instilsThis includes all aspectsOur successistrust and confidenceof the recruitmentmeasured by theto facilitateanprocess. fromamount of

4、 repeatengaging andadvertising, executivebusiness we receivedatabase search tosmooth recruitmentand the career successprocess.headhunting. tailored toof our candidates.meet our clientsrequirements.KPW#page#Executive Talent in the SpotlightContentsV3Employment Trends Survey10Recruitment and Salary Ou

5、tlook13Asset ManagementCompany Secretarial13Compliance14Consumer Markets and Marketing14Corporate Finance5Finance16Human Resources,Training， Learning and17Development8Information Technology18Information Security and Cyber Risk18Internal AuditLegal18RealEstate19Risk Management1920About KPMGJOBSB20Con

6、tact Us2019 KPMG.aHorKPM#page#Executive Talent in the SpotlightEmpoymnt Trnds urveyIntroductionGlobalprotectionism and volatility in emerging marketsuncertaintieshave hadHowever. the third edition of KPMGs employment trends survey andlimited impactsalary outlook shows that this has had limited impac

7、t on the Hong Kongon the Hong Kongemployment market，which remains strong as reflected by a record lovemploymentmarketunemployment rate1which remains strong asreflected by a record lowAbout the surveyunemployment rate，3Felix Leehow employers can better position their companies to recruit and retainHe

8、ad of KPMG Executivestaffat different levels.Search and RecruitmentServicesKPMG commissioned YouGov to conduct an online survey. A pool of 476KPMG Chinabusiness executives working in Hong Kong or stating a home base in theFebruary 2019.They shared their perspectives and views on the marketand career

9、 opportunities in Hong Kong and the Greater Bay Area (GBA）.Respondents were drawn from a variety of industries， including consumerainionnseluiAbojouuay pue uonenouulsainlesjeiueulsiayeuprofessional services，real estate， manufacturing, as well as trade andlogistics. More than four out of five respond

10、ents (81 percent） held eithermanagerial or Cevel executive positions.Total surveyed respondents14%Clevel4%Senior Manager or Manager26%19%Department Head or equivalentAssistant Manager or belowSource: KPMG survey analysis1https/wstatdgov.hk/hksta/sub/s3jsp32019 KPMG.a Hong Kong partvithKPMG#page#Exec

11、utive Talent in the SpotlightSurvey respondents:breakdown by experienceN ClevelSenior Manager or ManagerDepartment Head or equivalentssistant Manager or below11-20vears6-10ye3-5y2yearsorNumber of respondents02060800180200Source: KPMG survey analysisTalent market overviewWe consider that t

12、he local employment market is wellSupported by fiscal incentives for innovation andIncrease in headcountstechnology from the Hong Kong government as well asthe completion of key infrastructure projects，such asFinancial servicesthe Guangzhou-Shenzhen-Hong Kong Express Rail Linkand the Hong Kong-Zhuha

13、iMacau Bridge: both of whichInnovation and technologyare among the strategic initiatives of the GBAAverage for allindustriesAmong the respondents working in Clevel positions orin human resources functions， 72 percent stated plansto increase or maintain existing headcounts. Similar to50KPMGs 2018 sur

14、vey, respondents in financial services古as well as innovation and technology talied thenighest-37 percent and 45 percent respectively expect30an increase in headcounts-although the percentage foreach sector this year was lower than last year.20The dip in prospective headcount increases for the10finan

15、cialservices sector may be related to the0appication of the artificialinteligence AD in engaging20182019customers and dealing with risk management. Manyfinancial institutions continue to invest heavily intechnology or transfer new technologies from theirmore technologically advanced headquarters to

16、theirSource: KPMG survey analysisHong Kong operations.2019KPMG.aHonc#page#Executive Talent in the SpotlightOpportunities in the Greater Bay AreaUnder the outline development plan for the Guangdong-Hong KongThe GBA is wellMacau Greater Bay Area issued by Chinas central government inpositioned toFebru

17、ary 2019，Hong Kong， Macau， Shenzhen and Guangzhou will bebecome a majorthe areas four core cities and each has specific roles and responsibilitieseconomy andto leverage their comparative advantages.Given Hong Kongs signaturemega metropolis. which willStrengths in finance，trade and professional servi

18、ces，we expect thecreate significant opportunitiesGBA initiatives to generate more jobs in areas related to thoseforbusinesses across allprofessions.sectors.99Ayesha LauA key aim of the GBA initiatives is to promote free movement of capitalManaging Partner Hong KongKPMG Chinaregions.Each city in the

19、GBA has its own strengths, capabilities andexpertise， and the free flow of talent should improve existing synergiesand create greater opportunities.Survey respondents attitudes towards working elsewhere in the GBAwere generally balanced.Among those based in Hong Kong,53 percentsaid they would consid

20、er working in other GBA citieswith ShenzhenMacau and Guangzhou being the top three choicesTop motivations for relocating from Hong Kong to other GBA citiesHigher incomeBroader work exposureTravelconvenienceCompanys business needsLower cost of livingFamily needsRespondentswereinvited to choose more t

21、han one answerSource: KPMG survey analysisThe top four considerations for respondents to work in these cities were higher pay (58 percent）， bettercareer and industry prospects (56 percent. broader work exposure (54 percent and travel convenience (52percent）.In addition. a GBA survey conducted by KPM

22、G China， HSBC and the Hong Kong General Chamber ofCommerce (HKGCC） in Q3 2018 found tax incentives to be a key factor in facilitating free movement otpeople within the GBA,especially for high-income individuals working within the region.In the secondplenary meeting of the Leading Group for the Devel

23、opment of the Guangdong-Hong Kong-Macao Greaterjeuosiad Mau S.puluo pupjulgu woly suoduuaxa snoeA paounouue uauuanob jluas seuua paly Aegsulaouoo jelauab paAelle suomduaxa asaul zsluap!sal AHIS 01 6L0Z Auea u eHe Yoo1 uo!uM xey auooulfor a reduction in post-tax income for working in mainland Chinaw6

24、0z/Lzueeoww5#page#Executive Talent in the SpotlightThe opening of infrastructure (e.g. the Hong Kong-Zhuhai-MacauBridge and the Guangzhou-Shenzhen-Hong Kong Express Rail Link）Extending theimproves cross-boundary transportation. These have helped advancecurrent super taxa stated goal for the GBA of m

25、aking all cities in the region accessiblededuction toas part of a“onehour living circle”Hong Kongtaxpayers outsourcing theirThe GBA is Chinas principal centre of innovation accounting forR&D activities to sub-more than half ofChinas international patent applications.Alargecontractors in the GBA will

26、number of respondents expected the GBA developments wouldalow companies to leveragecreate more job opportunities in innovation and technology 146the talentpoolandavailablepercent），financial services（36 percent）and professional servicestechnologies in the region.（31 percent）. This is in line with the

27、 outline development plan for theThis will also further promotejeuoleulaul ue oiul uoibal au buuuJojsuen o sjeob si pue vagcollaboration between Honginnovation and technology hubKong and other cities in theGBA.9GBA by leveraging its strengths as Chinas leading foreign-orientedStanley Hoinvestment an

28、d financing platform. In turn. the professional servicesTax Partnersector is benefiting from Hong Kongs unique legal and financialKPMG Chinaframework as the city remains an international financial hub andleading arbitration and intellectual property centres3Industries in which the GBA will create mo

29、re job opportunitiesInnovation and technologyFinancial servicesProfessional servicesTrade and logisticsRealestateHospitaity andfood&beverageInfrastructureHealthcare and life sciencesRespondents were invited to choose more than one answerSource: KPMG survey analysis3https:/www.bayarea.gov.hk/filemana

30、ger/en/share/pdf/0uvelopment_Planpdt8#page#Executive Talent in the SpotlightStart-ups see encouraging supportThe new listingThe Hong Kong government has been steadily fostering the growth ofregime，as part ofstartups within the city. Hong Kong keeps attracting and retaining leadingthe wider effortove

31、rseas and mainland Chinese companies as well as entrepreneurs fromto promotearound the globe to set up innovative， leading-edge businesses. Hongthe development of theKong continues to feature in the World Economic Forums 10 mostcompetitive economies，thanks to its open economy，rule of law,a wellnew e

32、conomy in HongKong,helpsnurture aneducated and industrious workforce，and sophisticated commercialshipping and aviation infrastructure.ecosystem for thesecompanies.It also enablesAccording to InvestHKs 2018 Annual Start-up Surveys. the number ofinvestors to learn aboutstartups grew by 18 percent year

33、 on year and the number of jobs createdinvesting in emerging andsurged by 51 percent. Hong Kongs startup ecosystem has grown rapidlyinnovative businesses asin recent years. There were 2625 start-ups operating in major public andwell as their technologies，private co-working spaces and incubators in 2

34、018. up 18 percent frombusiness models and2.229 in 2017.Together these startups employed 9.548 people， up 51strategies. Listing interestpercent from 6.320 in 2017.from new economycompanies is thereforeosje 1snu ing emeu quaje au Joy sioadsold buloxe Jeyo sdn-lesset to remain strong 97overcome challe

35、nges in luring high-quality people. Start-up businesses infinancial technology and e-commerce were the sectors respondentsmost likely consider joining at 47 percent and 33 percent respectivelyMaggie LeeRespondents with higher seniority and more work experience showedHead of Capital Marketsgreater su

36、pport for health care and life sciencesat 29 percentDevelopment Hong KongKPMG ChinaKong as a smartcity.anew listing regimeatthe Hong Kong StockExchange in 2018 relating to the new economy，and the release of virtualbank licenses have all encouraged the workforce to engage with a widerrange of start-u

37、ps in areas such as fintech and ecommerceMost attractive types of start-upsC-levelDepartment Heador equivalentSenior Manager or Manager60%Average%0940%30%20%10%0%FintechHealthcare andSharedOthersSocial well-Entertainmentand socialmedieconomyRespondents were invited to choose more tan one answer.Sour

38、ce: KPMG survey analysis4 htpsreports.weforum.org/globalcompetitivenessreport2018/competitivenessrankings/upward.htmlimmsaffiliiated withh KPMG#page#Executive Talent in the SpotlightKey factors for working in a start-upSClevelDepartment Head or equivalentSenior Manager or ManagerAssistant Manager or

39、 below60%Average80940%30%20%10%0%CompanysBroadeFittingJobEntreprFastEarning0SarchicaatisfactiorauthoritygrowthneuriacultureandofficpotentiaexposurepoliticsRespondents were invited to choose more than oneIysIDeterrents to working in a start-up8NCevelSenior Manager or ManagerDepartment Head or equival

40、entAssistant Manager or belowAverage960690870%60%50%40%30%20%10%0%SalarypnaFast-UncertainLack ofIrregularLackofUncleabusinesschangingentry barriercareerprospect andand othehourssubjecttoemployeeinabilitykindstsplarnakingcash flowSupportpositionRespondents were invited to choose more than one answer.

41、Source: KPMG survey analysis8ithKPMG#page#Executive Talent in the SpotlightOfthe many factors that might entice respondents to work in a startup，company growth potential (56 percent） and earning potential (38percent） ranked highest.For C-level executives，job satisfaction was theFostering amost decis

42、ive factor when considering whether to get involved in avibrant robustStart-upand sustainableinnovationMost respondents indicated uncertain business prospects and anecosystem calls forthose who identified themselves asassistant manager or below”continuous improvement to acityscapabilities，whileuBu j

43、uauuleAoB buoy BuoH au Aq sanellu! Buluoodn Jo lequnu encouraging ango some way towards easing these uncertainties. The citys 2019-2020entrepreneurial mindset and abudget will expand support for start-ups.A budget of HKD 5.5 billion willsense of purpose among itsbe set aside for the development of C

44、yberport 5 to accommodate morecitizens.9technology companies and start-ups. Furthermore， HKD 20 billion will beinjected into the Research Endowment Fund of the Research GrantsPatrick KirbyCouncil under the University Grants Committee to provide researchDirector Technology, Media andfunding. All this

45、 funding could alleviate a large portion of the cost ofTelecommunications & Innovationdoing business， which is a key challenge to entrepreneurship in HongKongKPMG ChinaBeyond Hong Kong. the GBA is also considered an ideal stepping stonefor startups to expand their businesses to larger regional or gl

46、obalplatforms.A joint study by KPMG and Alibaba Hong Kong EntrepreneursFund in 2018 found that 54 percent of students perceived the GBA as abetter location to starta business compared to Silicon Valley， Singaporeor other global innovation hubs7hts/w.budgetgov.hk/21/eng/budgt4.hlurshi9heKPMG2019KPMG.

47、aHor#page#Executive Talent in the SpotlightOonospun.Understanding the workforceA pool of 476 business executives working in Hong Kong or stating a home base in the city participated inour survey between January 2019 and the first half of February 2019.They shared their perspectives andviews on the m

48、arket and career opportunities in Hong Kong.Talentretentionpeaue uouesuaduos pue Aeles paed suepuodsal Jo luaoled 89 iieyads qoj Mau e Joy ool o jauaumand work flexibility and work-ife balance (35 percent） in third placeualadLt:uuoluas uo buipuadap ainssaid JoM pue peoiyJom Jo eoueidaae aui uaamiag

49、Auuedsip abjeopportunities while less than 23 percent of the more experienced executives identified this factor as aconcern. Companies looking to retain younger staff members might want to consider this when designingjobs.Drvers for seeking new job opportunitiess CevelDepartment Head or equivalentSe

50、nior Manager or ManagerAssistant Manager or belowAverage90870%60%50%40%30%20%10%0%WorCareeSalaryanoandpackagslifebalancRespondents were invited to choose more than one answerSource:KPMG survey analysis102019 KPMG.a Hong #page#Executive Talent in the SpotlightSalary expectationsOZJo quauaJu Aueiesepa

51、edxe siuapuodsaleuJo uaoled euo-Kyuanessiuepuodseleu JoAlofeupercent or more， and one in four expected a 30 percent jumpA notable finding related to C-level executives on salary expectation.Within this group，25 percent said theywould accept a similar compensation package or consider a reduction in p

52、ay when making a career moveOn the contrary,32 percent expected an increase of 30% or more.A significant gap in salary expectationsamong the Clevels could be attributable to the different priorities that each individual may have for jobsatisfactioncompany culture,work flexibility and work-life balan

53、ce etc,other than remuneration package.Salary expectationswhen seeking job opportunities:2019 vs 20189092018Average40%90820%10%0%30%or moreincrease10%increaseSimlar to current package20%increaseor open to reductionSource: KPMG survey analysisSalary expectations when seeking job opportunities: breakd

54、own by seniorityww ClevelDepartment Head or equivalentSenior Manager or ManagerAssistant Manager or below60%CAverage50%40%0820%10%0%30%ormore20%increase10% increaseSimilar to current packagencreasor open to reductionSource:KPMG survey analysis12#page#Executive Talent in the SpotlightSalary outlookIn

55、 the pages that follow. we provide a salary outlook for a number of key professions in Hong Kong such asfinance,human resources，information technology and security.corporate finance，asset management，compliance， consumer markets and real estate.The outlook is based on a combination of market insights

56、and the knowledge of our professional team of consultantsThe figures are denoted in HKD and are representative of salariesfor 12 months. excluding bonusesAsset ManagementSmallto Medium-sizedmLarge CorporationsCompanies336K-480K360K-600KAssociate/ AnalystVice President / Assistant Vice President600K-

57、960K720K-1.1MDirector / Executive Director960K-1.2M960K-1.4MManaging Director/ Parter1.4M-2.4M1.8M-2.6MResponsible Officer (Type 9）840K-1.4M960K-1.8MResponsible Officer (Type 9）（public fund）1.2M+1.5M+Company SecretarialSmallto Medium-sizedTitleLarge CorporationsCompaniesCompany Secretarial Officer20

58、0K-400K420K-540K360K-600K480K-660KAssistant Company Secretarial ManagerCompany Secretarial Manager600K-840K660K-960KSenior Company Secretarial Manager840K-960K960K-1.1MDeputy Company Secretary840K-1.2M1.08M-1.5MNamed Company Secretary1M+1.5M+13#page#Executive Talent in the SpotlightThe figures are d

59、enoted in HKD and are representative ofsalaries for 12 months,excluding bonusesComplianceSmall to Medium-sizedTitleLarge CorporationsCompanies240K-360K240K-540KAssistant Manager/AssociateManager/Assistant Vice President360K-720K540K-840KAML Manager480K-600K720K-840KAML Senior Manager720K-840K840K-1.

60、2MSenior Manager/Vice President600K-840K660K-960KDirector/Senior Vice President840K-1.2M900K-1.8MHead of Compliance1.2M+1.8M+Consumer Markets and MarketingSmall to Medium-sizedTitleLarge CorporationsCompaniesSocial Media Manage520K-600K800K-950KPublication Relations Manager520K-600K800K-1MSenior Man

61、ager Marketing600K-780K840K-960KSenior Manager Digital Marketing600K-720K720K-1MSenior Retail Operation Manager600K-840K780K-1.2MMarketing Director900K-1.2M1.2M-1.8MRetail Operation Directo900K+1.5M+General Manager1M+1.3M+14#page#Executive Talent in the SpotlightThe figures are denoted in HKD andare

62、 representative ofsalaries for 12 months.excluding bonusesCorporate FinanceCorporateFinance(SellSide）Smallto Medium-sizedOHLLarge CorporationsCompaniesAnalyst300K-420K200K-360KAssociate360K-480K420K-540KAssistant Vice President/ Manager480K-600K480K-720KVice President/ Senior Manager600K-840K600K-78

63、0K900K-1.8MAssistant Director / Director780K-960KExecutive Director1.08M-1.4M1.2M-1.8MManaging Director1.5M+2.4M+Head of Investment Bank1.8M+3M+RO6 IPO Principal2M+2M+Corporate Finance(Buy Sidel- Direct Investment/ Corporate Development/ Mergers andAcquisitions(M&A）Smallto Medium-sizedTitleLarge Cor

64、porationsCompanies240K-360KAssociate，Investment240K-360K720K-960KManager Corporate Development600K-840K840K-1.08MSenior Manager， Corporate Development840K-1.2MManager Investment480K-720K600K-840KSenior Manager Investment960K-1.4M1.2M-1.8MDirector， Corporate Development960K-1.2M1.2M-1.8MInvestment Di

65、rector1.2M-2M1.8M-2.4M1.5M+2M+Managing Director / Chief Investment Offficer#page#Executive Talent in the SpotlightThe figures are denoted in HKD andare representative of salaries for 12 months.excluding bonusesFinanceHong Kong Listed CompaniesSmallto Medium-sizedTitleLarge CorporationsCompanies360K-

66、600KAssistant Manager， Finance300K-400KFinance Manager450K-700K660K-1MFinancial Planning and Analysis (FP&A） Manager600K-800K660K-1MSenior Finance Manager700K-1.1M800K-1.2MInvestor Relations Manager520K-800K700K-960KHead of Investor Relations1.2M+800K+1.2M-2MFinancial Controller900K-1.3MFinance Dire

67、ctor1.2M-1.8M1.6M-2MChief Financial Officer1.5M+3M+Multinational CompaniesSmallto Medium-sizedTitleLarge CorporationsCompaniesAssistant Finance Manager. Regiona480K-600K540K-700KRegional Finance Manager600K-840K700K-900KRegional Financial Planning and Analysis (FP&A）720K-840K800K-1MManager1M-1.2MReg

68、ional Senior Finance Manager800K-1M1M-1.3M1.2M-1.5MRegional Financial Controller1.2M-1.8M1.6M-2MRegional Finance DirectorRegional Chief FinancialOfficer1.5M+2.5M+16#page#Executive Talent in the SpotlightThe figures are denoted in HKD andare representative of salaries for 12 months.excluding bonusesH

69、uman Resources,Training，Learning and DevelopmentHuman ResourcesSmallto Medium-sizedTitleLarge CorporationsCompaniesHuman Resources Officer200K-250K200K-360K300K-400K300K-500KAssistant Human Resources Manager400K-700K500K-780KManager. Talent Acquisition / RecruitmentManager Compensationand Benefits50

70、0K-800K600K-900KHuman Resources Business Partner600K-800K700K-1.1MSenior Manager700K-900K800K-1.3MHuman Resources Directo900K-1.2M1M-1.4MHead of Human Resources.Hong Kong Headquarters900K+1.5M+Training,Learning and DevelopmentiL&D)TalentDevelopment(T&D）Smallto Medium-sizedTitleLarge CorporationsComp

71、aniesAssistant Manager/ Training Specialist240K-360K300K-540KLearning & Development Manager480K-660K540K-780K540K-720KRegional L&D / T&D Manager600K-900KSenior L&D/T&D Manager600K-800K800K-1.1ML&D/T&D Director900K+1.4M+Source: KPMG Exed17#page#Executive Talent in the SpotlightInformation Technology

72、(IT）Smallto Medium-sizedanlLarge CorporationsCompaniesInfrastructure Manager500K-700K720K-840KSenior Manager. Infrastructure700K-900K800K-1.2MSenior Manager.IT700K-1M1M-1.3MHead of IT/IT Director800K-1.2M1.4M-1.8MChief Information Officer1M+2M+Information Security and Cyber RiskSmallto Medium-sizedO

73、mLLarge CorporationsCompanies500K-700K720K-840KManager Information Security and Cyber RiskSenior Manager. Information Security and Cyber Risk700K-900K1M-1.2MAssociate Director. Information Security and Cyber Risk900K-1.2M1.2M-1.8MHead of Information Security and Cyber Risk1.2M+1.8M+Intemnal AuditSma

74、llto Medium-sizedmlLarge CorporationsCompaniesAssistant Internal Audit Manager480K-600K660K-780KInternalAudit Manage720K-840K800K-1MSenior Internal Audit Manager800K-1M900K-1.2MInternal Audit Director900K-1.2M1M-1.5MHead of Internal Audit1M+1.5M+LegalTitleSmall to Medium-sized1Large CorporationsComp

75、aniesParalegal360K-480K500K-720K600K-900K800K-1MLegal Manager (0-3 PQE）900K-1.3M1M-1.8MLegal Counsel 14+ PQE1M-1.8M1.3-2MSenior Legal Counsel 8+ POE1.8M+2.4M+General Counsel(12+ PQE）Source: KPMG Executive Search and Recruitment Services182019 KPMG.aHong Kong par#page#Executive Talent in the Spotligh

76、tThe figures are denoted in HKD andare representative ofsalaries for 12 months.excluding bonusesReal EstateLeasingSmall to Medium-sizedTitleLarge CorporationsCompanies480K-600K600K-800KLeasing ManagerSenior Leasing Manager600K-960K800K-1.2MGeneral Manager800K-1.2M1.2M-1.6MLeasing Director1.2M+1.6M+P

77、roject ManagementSmall to Medium-sizedTitleLarge CorporationsCompaniesProject Manager600K-800K800K-1.2MSenior Project Manager800K-1.2M1.2M-1.8MProject Director1.2M+1.8M+Property ManagementSmall to Medium-sizedTitleLarge CorporationsCompanies600K-720KProperty Management Manager480K-540K600K-720K840K-

78、1.2MGeneral Manager Property Management840K-1M1M-1.4MDirector Property Management1M-1.2M1.3M-1.8MHead of Property Management1.2M+1.8M+Risk ManagementSmallto Medium-sizedTiteLarge CorporationsCompaniesVice President Market Risk700K-960K800K-1.2MVice President Credit Risk700K-960K800K-1.2MVice Preside

79、nt Operational Risk700K-960K800K-1.2MVice President Cyber Risk800K-1M800K-1.3MHead of Risk Management1.2M+1.8M+192019 KPMG.a Hong Kong paafiated#page#Executive Talent in the SpotlightADOUt KPMGKPMG member firms and its affiliates operating inCooperative（“KPMG International”），a Swiss entitymainland C

80、hina. Hong Kong and Macau areEach KPMG firm is a legally distinct and separatecollectively referred to as KPMG China”entity and describes itself as such，KPMG China is based in 21 offices across 19 citiesIn 1992,KPMG became the first internationalwith around 12.000 partners and staff in Beijing，accou

81、nting network to be granted a joint ventureChangsha， Chengdu. Chongqing. Foshan Fuzhoulicence in mainland China. KPMG China was also theGuangzhou，Hangzhou，Nanjing，Qingdao，Shanghai，firstamong the Big Four in mainland China to converShenyang，Shenzhen，Tianjin，Wuhan，Xiamen，Xianfroma joint venture to a s

82、pecial general partnership，as of1August 2012.Additionally.the Hong KongHong Kong SAR and Macau SAR.Workingcollaboratively across all these offices， KPMG Chinafirm can trace its origins to 1945.This earlycan deploy experienced professionals mitment to this market，together with anunwavering focus on q

83、uality.has been the foundationwherever our client is locatedfor accumulated industry experienceand is reflectedKPMG is a global network of professional servicesin KPMGs appointment for multi-disciplinary servicesfirms providing Audit，Tax and Advisory services.We（including audit，tax and advisory） by some of Chinasoperate in 153 countries and territories and havemostprestigiouscompanies207,000 people working in member firms around theworld. The independent member firms of the KPMGnetwork are affiliated with KPMG Internationa20KPM0