Deloitte was a pioneer with a vision. Recognising business opportunities in China, we opened an office in Shanghai as early as 1917, becoming the first foreign accounting organisation to establish a presence in this dynamic and prosperous city.
Our Hong Kong presence since 1972 is the result of a number of successful mergers. Deloitte Touche Tohmatsu results from a 1989 merger between Deloitte Haskins & Sells International and Touche Ross International, which combined with the premier Japanese audit firm of Tohmatsu Awoki & Sanwa in 1975. Spicer & Oppenheim joined our international network in Hong Kong SAR and the UK in 1991. In 1997, Deloitte Touche Tohmatsu merged with the largest Chinese firm of Certified Public Accountants in Hong Kong SAR, Kwan Wong Tan and Fong.
In 2004, Deloitte unveiled its five-year plan to invest US$150 million in the Chinese Mainland, Hong Kong SAR and Macau SAR. This is the most significant investment Deloitte has made in a single market in its more than 100 years history. In 2005, Deloitte China announced two mergers with leading local China CPA firms - Beijing Pan-China and Shenzhen Pan-China Schinda in the Mainland which have a rich portfolio of clients, and serve large state-owned enterprises, financial institutions and local Chinese clients. The mergers contribute to Deloitte's vision for growth in China and our capability in serving the growing local market.