Price Waterhouse venture gets foothold in mainland

PRICE Waterhouse has taken a step forward in exploring the growing China market with the opening yesterday of its accounting joint venture in Shanghai.

The joint venture, Price Waterhouse Da Hua Certified Public Accountants, will provide a foothold for Price Waterhouse to penetrate China's accounting business, which is restricted to mainland accountants only.

The Shanghai partner is Da Hua Certified Public Accountants, which was formed by the Shanghai University of Finance and Economics in 1985.

Mr David Humann, Price Waterhouse partner responsible for the Asia-Pacific region, said the joint venture would provide a full range of services, from audit, tax services to management consultancy to international and local clients.

He said Price Waterhouse would encourage its clients to invest in Shanghai and the rest of China.

Mr Tang Yunwei, director of Da Hua, said at a reception in Shanghai yesterday the joint venture would offer enhanced accounting services, which could fuel the business and economic growth of Shanghai.