Deloitte announced a $200 million strategic investment programme to develop talent and capability in a bid to capture the opportunities emerging from China’s ‘One Belt, One Road’ initiative.
The UK financial advisory firm expects the investment will enhance its professional services in China, as well, support the digital transformation of Chinese enterprises and promote innovative changes within the firm and across Chinese companies.
A $40 million budget from the programme is dedicated to helping Chinese clients go global and participate in the Belt & Road initiative.
The Belt & Road policy, proposed by President Xi in 2013, is a master development plan to enhance connectivity and promote trade along the ancient silk roads across 60 countries in Eurasia. The covered region, which mostly involves emerging markets, requires massive infrastructure investment and support for economic growth.
“The Chinese government will continually ramp up support for and investment in areas such as energy infrastructure, technology and international industrial capacity cooperation. Deloitte China is fully committed to helping our clients leverage opportunities and overcome challenges related to the initiative, assisting them in resolving various risks, navigating cultural differences and developing a comprehensive business plan,” said Vivian Jiang, deputy chief executive of Deloitte China.
“At the same time, this strategic investment programme can strengthen our firm’s B&R international talent development and further accelerate Chinese enterprises in going global,” she said.
Deloitte arrived in China in 1917, with its first office opening in Shanghai. It now operates in 20 offices across China, offering a range of audit and assurance, consulting, financial advisory, risk advisory and tax services in the world’s second-largest economy.