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The numbers will continue to add up

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LIKE SMALL ARMIES, the Big Four accountancy firms are mounting an unprecedented invasion into China from their Hong Kong headquarters as the mainland opens its doors to the world.

Just as the world's corporations are converging on the mainland, China's giant enterprises - including the entire banking industry - require drastic re-engineering as they seek overseas listings and foreign capital to compete on the world stage.

The Big Four are helping emerging mainland enterprises to access the capital they need to expand into the global marketplace. But with this windfall in business comes a daunting new challenge - attracting talent and training this new army of accountants.

The accountancy boom has prompted industrial-scale hiring. This year alone, one of the prominent Big Four firms, Ernst & Young, has already recruited more than 600 graduates along with another 200 experienced accountants.

It plans to take on another 1,000 newcomers before Christmas, bringing total staff to about 5,000 by the end of the year.

The accountants needed on the largest mainland projects can number up to 300 on a single campaign, working together for many weeks across several cities, said Gerry Redmond, Ernst & Young's partner responsible for learning and development.

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