PricewaterhouseCoopers (PwC) plans to double the number of people working in its China operations. The firm will hire 10,000 people within the next five years to meet the growing demand for professional services in the country, it said yesterday.
The new hiring will focus on advisory professionals as PwC sees strong growth opportunities for its advisory arm. PwC has professionals in mainland China and Hong Kong offering advisory and consulting services in areas such as mergers and acquisitions, financial due diligence, corporate finance and restructuring. It currently has more than 10,000 people of which 407 are partners, according to the firm.
“At PwC, we want to grow with our clients. We expect more Chinese companies to expand their presence overseas, and we’d like to be part of that growth. They need the advice and support from international professional services firms that can provide quality solutions to meet their business needs,” said Silas Yang, chairman of PwC China and Hong Kong.
“We want to have the right people for the right jobs. This year we aim to attract 2,000 of the best graduates for PwC China and Hong Kong,” Yang said in a statement.
As part of the expansion, PwC will add 650 people in its south China headquarters in Guangzhou, the capital city of Guangdong province. The office currently has 600 people. To cope with the expected increase, it has expanded its office space by 50%.
“Guangzhou is the largest city in southern China, and the third largest city in China. Its economy continues to grow by leaps and bounds. We set up our South China headquarters in the central business district of Guangzhou to coincide with the Guangzhou government’s initiative to develop its services industry and economy,” said Sonny Doo, PwC’s lead partner for Guangzhou.
