Unveiling KPMG: The First Sino-Foreign Joint Venture Accounting Firm on the Chinese Mainland As one of the Big Four, KPMG specializes in audit, tax, and advisory services. Headquartered in Amsterdam, the Netherlands, KPMG boasts a long history spanning three centuries. It was formed in 1897 through the merger of various member firms of Peat Marwick International (PMI) and Klynveld Main Goerdeler (KMG). The four letters in "KPMG" stand for the surnames of its principal founding partners. In mainland China, KPMG became the first international accounting firm approved to operate as a Sino-foreign joint venture in 1992. KPMG China—a collective term encompassing its member firms and affiliated entities across mainland China, Hong Kong, and Macau—maintains 21 offices in 19 cities, with approximately 12,000 partners and staff. Thanks to its first-mover advantage, KPMG has long enjoyed strong favor among Chinese banks and state-owned enterprises (SOEs), securing numerous major clients—including SOEs—with particular strength in the financial sector. For instance, in 2016, KPMG served as auditor for all four major state-owned commercial banks (ICBC, Agricultural Bank of China, Bank of China, and China Construction Bank), earning RMB 180 million in audit fees. More recently, KPMG secured external audit mandates for China Mobile and China Telecom for fiscal year 2021. Of course, due to KPMG’s low profile and recent negative publicity, market pessimism has been relatively widespread. Yet upon closer examination, KPMG remains proudly one of the Big Four. Audit and Advisory Services Flourishing Across the Board KPMG Provided Evidence for Huawei’s Meng Wanzhou Let’s examine some of KPMG’s recent engagements—they are diverse, high-quality, and thriving. In international business, KPMG won a major client—HP—for tax services. KPMG will deliver tax services to HP across 60 countries to support HP’s global operations. As part of this arrangement, selected members of HP’s finance teams from around 20 countries have joined KPMG’s global network of tax professionals. KPMG’s team will provide a comprehensive suite of global tax services, including international and U.S. direct and indirect tax compliance, global tax reporting assistance, transfer pricing support, and other tax-related advisory services. In the advisory domain, KPMG won the RMB 6.88 million tender for China Post Savings Bank’s consulting project on digital transformation of its SME credit business. … Moreover, few people realize that since 2000, Huawei has consistently engaged KPMG as its independent auditor. Beyond conducting independent audits for Huawei, KPMG also provided evidentiary support for Meng Wanzhou’s defense! During the trial, Meng Wanzhou’s defense counsel repeatedly emphasized Huawei’s adherence to trade compliance—and presented evidence issued by KPMG. Vice Chairman Reveals Talent Requirements at KPMG: An Ideal Workplace for Business Students Regarding employment, according to information released by the Chinese Institute of Certified Public Accountants (CICPA), KPMG has received no penalties in mainland China over the past three years—making it one of the most desirable employers for business students.

KPMG’s 'Superhero' Journey: Unveiling the Super Tool of the Corporate World

Mr. Dongxi Li, KPMG Asia Pacific’s ESG Leader, stated in an interview: “We are proud of our firm network’s commitment to building a leading ESG team dedicated to helping clients harness the power of ESG to transform their businesses.” This commitment is more than just rhetoric—it is a genuine sense of mission, akin to a superhero’s responsibility to protect the world. In 2023, KPMG launched a global initiative called “Green Future,” aimed at helping small and medium-sized enterprises (SMEs) achieve sustainable development goals through training and support. Within just one year of its launch, the program had already assisted over 500 enterprises in achieving green transformation. These companies not only achieved notable environmental outcomes but also enhanced their market competitiveness. For example, in 2024, KPMG partnered with the renowned apparel brand Nike under the Green Future initiative to optimize Nike’s production processes—reducing energy consumption by 30% and waste emissions by 25%. Nike’s Chief Operating Officer highly commended KPMG’s contribution in the company’s year-end summary, calling KPMG “our best partner in achieving sustainability.” VII. Data-Driven Solutions: KPMG’s ESG Magic KPMG not only possesses a clear strategic blueprint but also leverages data-driven technologies in practice to help clients achieve sustainable development goals. This process resembles casting magic—transforming complex data into actionable plans, enabling enterprises to pursue economic returns while fulfilling environmental and social responsibilities. In 2023, KPMG helped ArcelorMittal—one of the world’s largest steel companies—implement a data-driven carbon reduction program. Through detailed analysis of production data, KPMG proposed a series of improvement measures, enabling ArcelorMittal to reduce its carbon emissions by 20% within one year. This achievement not only enhanced the company’s environmental reputation but also generated substantial operational cost savings. In 2024, KPMG collaborated with Dow Chemical—a globally renowned chemical company—utilizing big data and artificial intelligence to optimize its production and supply chain management. With KPMG’s expert guidance, Dow Chemical significantly improved production efficiency and markedly reduced environmental pollution. This collaboration further demonstrates KPMG’s outstanding capabilities in delivering data-driven solutions. VIII. Global Collaboration and Impact: KPMG’s International Network KPMG’s achievements extend far beyond the Asia-Pacific region; its influence is truly global. Its international network and cross-border collaborations enable it to deliver top-tier services to clients across diverse cultures and markets—much like a superhero alliance, where each member brings unique strengths and works seamlessly together to tackle global challenges. In 2023, KPMG partnered with Facebook—the world’s largest social media company—to help develop and implement a global sustainability strategy. Through collaboration among multinational teams and shared resources, KPMG delivered a comprehensive ESG solution for Facebook—covering everything from data center energy management to employee welfare enhancement.

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