China’s ‘two sessions’ 2023: call for Greater Bay Area to become hub for top-tier accounting training
- Member of top political advisory body says institutes should be set up to pool information and serve companies expanding offshore
- Centres could help firms reduce the risk of investing overseas, proponent says
Gong Yongde, a member of the Chinese People’s Political Consultative Conference (CPPCC), said the Greater Bay Area, a vast economic zone encompassing Hong Kong, Macau and nine cities in Guangdong province, should set up the institutes to pool information.
“If most mainland enterprises choose to set up ‘going global’ headquarters in the Greater Bay Area, a large amount of overseas information and practical experience will be gathered in the area,” the state-run National Business Daily quoted Gong as saying on Friday.
“The interconnection of information and experience will help the enterprises avoid detours and reduce the risks in overseas investment.”
Gong, who is also the former vice-president of KPMG China, said many companies that failed to expand and invest overseas did so because they did not have enough research-based information.
Gong suggested China strengthen professional training of high-end accounting personnel and set up an international accounting institute in the Greater Bay Area for Chinese businesses expanding offshore.