Since its accession to the World Trade Organization three years ago, China's importance to the global economy has grown exponentially. From its role as an exporter of low-cost goods, China is emerging as a manufacturing powerhouse of growing sophistication. And with 1.3 billion people — a fifth of the world’s population — its potential as a consumer market has only begun to be tapped. China has just outpaced Mexico and Japan to become the second-largest trading partner of both Canada and the U.S. Foreign direct investment into China has surpassed US$500 billion and is likely to grow by more than US$60 billion again in 2005 as more companies take advantage of reforms in China. At the same time, China is evolving from being the world's premier sourcing marketplace to its leading market for goods and services. Imports into China are on track to exceed exports for the second year in a row, skyrocketing from just US$4 billion in 1970 to more than US$561 billion in 2004. This reflects strong demand for the equipment and raw materials to keep the "world factory" of the 21st century humming, as well as the steady integration of China's fast-growing urban middle class into global consumer culture. China is now North American’s fastest-growing export market and with more areas of its economy opening to foreign participation every year, its full importance to Canadian companies is only now coming into view. Deloitte has the skilled workforce and on-the-ground experience to help you reach your business goals. We have over 7,500 people covering the Chinese Mainland, Hong Kong SAR, Macau SAR and Taiwan. We serve one-third of all companies listed on the Hong Kong Stock Exchange. We serve more than 600 multinational corporations and their affiliated companies in China. Since 1993, we have been advising the Chinese Ministry of Finance on the development of accounting standards and tax systems. Our global organization recently announced a US$150-million investment to further strengthen its presence in China. Deloitte was the first foreign accounting firm to open an office in Shanghai in 1917.
Our services are geared to two groups: newcomers to China who need help getting started, and already-established businesses looking for ways to improve their Chinese operations. Gateway Services – We provide assistance to global companies investing in China for the first time to navigate the many challenges of initial market entry. Gateway services offer start-to-finish guidance, from determining how sourcing from China and selling to its consumers fits into a company's global business strategy, to setting up actual operations. We offer the same services to Chinese companies looking for a “gateway” to the Canadian market. Strategy – entry or expansion strategy, market assessment, enterprise value mapping Structure – business vehicle planning, tax and organizational structure guidance, operational and supply chain assistance Location – site selection, manufacturing and supply chain process migration Implementation – people and process Mergers & acquisitions – target evaluation and selection, due diligence, M&A assistance
Business Optimization – We assist global companies with significant operations already in China, helping them keep pace and leverage opportunities presented by the world’s fastest-moving business and regulatory environment: Strategy reassessment – interpretation of new regulatory developments, enterprise value mapping, market and feasibility studies Restructuring – expansion strategy, M&A, new foreign invested enterprises, due diligence Risk management – intellectual property protection, mitigation strategy New strategy implementation
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