Danny McCance 25 Sep 2017 11:43am

Deloitte announces $200m investment in China

The Big Four firm has revealed its strategic investment on the day of its centenary in the country

The money is earmarked for talent development and upgrading the firm’s capability in professional services, as part of a joint enterprise between Deloitte Global and Deloitte China.

"Over the past few decades, we have witnessed China's incredible transformation as an economic power, which has continued to generate Fortune Global 500 companies,” said Punit Renjen, global CEO of Deloitte.

“China is an important market for Deloitte and we are committed to serving the China marketplace with distinction."

In March, figures showed that the Big Four have been increasing their advisory work in China – the firms advised on $8.6bn worth of cross-border acquisitions by Chinese groups in 2016.

This latest investment is directed at advancing digital transformation for the firm and Chinese enterprises, enhancing advisory services and assisting Chinese enterprises in going global, said the firm.

"As we enter into a rapidly digitalizing age, it is imperative that we strengthen our service capabilities by investing in technology and innovation,” said Dora Liu, Deloitte China Eastern Region managing director.

“As a top professional services firm, Deloitte China will embrace innovation, leverage the competitive edge brought about by technological development and its business applications," she added.

The firm announced that $40m of the investment will be put towards helping enterprises take advantage of the “one belt, one road” initiative.