EY Hua Ming embarks on a new era in China
Beijing, 11 September 2012 – Addressing a press conference that marks the inauguration of Ernst & Young Hua Ming LLP (“EYHM LLP”), Mark Weinberger, Global Chairman & CEO-elect says: "We believe that the conversion into LLP opens up unprecedented opportunities for our business and people in China."
On conversion from a joint venture into LLP, Mark is confident that localization boosts our competitiveness and will enable us to better serve our Chinese clients and the Chinese market, thereby contributing further to the development of China's accounting industry and the economy.
On behalf of all staff, Mark expresses our deep appreciation for the on-going support and guidance from the Ministry of Finance (“MOF”) and all other relevant government authorities: "Strong backing from the government authorities ensured that the conversion was a positive and healthy continuation of our existing business."
Lou Pagnutti, Managing Partner, Asia Pacific agrees: "The conversion, being an extremely smooth and successful one, has reassured our clients of our commitment to providing services of the highest quality and efficiency."
Albert Ng, Chairman, China and Managing Partner, Greater China says, "Over the course of 30 years operating in China, we have witnessed the exponential growth of the Chinese economy. It is profoundly gratifying to have served so many Chinese enterprises who have now become world industry leaders, and in the process, we have managed to grow along side China's accounting industry. We are proud to have participated in and contributed to this development. Upon conversion, we are entering a new era. Thanks to 30 years of localization initiatives, we are ready to take on more challenges as our clients' businesses continue to excel."
Mark believes the conversion opens up unprecedented career opportunities for competitive young professionals in China: " The conversion accelerates our demand for more local talents aspiring to work with the most successful and fastest growing Chinese and multinational companies."
EYHM LLP has obtained approval of the MOF, and was granted license to operate by the State Administration for Industry and Commerce of China. Mark reiterated that EY Global will continue to increase investment into the Chinese market, and EY's global network and resources will continue to serve China's increasingly globalized enterprises with the highest quality and consistency.
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This news release has been issued by EY, China, a part of the EY global network.