The Malta Independent 12 December 2018, Wednesday

Group meeting in Germany of PKF firms with a China desk

Friday, 16 June 2017, 12:01 Last update: about 2 years ago

PKFI has invited a number of its offices to a grand meeting in Duisburg (Germany) hosted at the offices of PKF Fasselt Schlage to discuss strategy with their Chinese counterparts.

The 10 offices are Munich, Cyprus, Malta, London, Italy, New York, Beijing, Pakistan, Hong Kong and Shanghai. The managing partner Christian Muller at host firm PKF Fasselt Schlage welcomed the participants. PKF Fasselt Schlage is a German firm fully committed to provide services to Chinese companies planning to invest in Germany.

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Another active member of the China desk is the PKF O'Connor Davies in New York.  Founded in 1891, it has evolved from an accounting firm to become a team of high calibre professionals that provides a global, growing client base with comprehensive accounting, auditing, tax and specialised management advisory services at the highest level.

Other PKF participants included three firms in the UK ‒ Francis Clark, Cooper Parry and Littlejohn, apart from Pakistan, Munich, Cyprus, Malta and Italy. Such firms already have deep roots in China mainland and are ready to capture the flow of business on the proverbial Silk Road.
Malta started early to have trade relations with China. It was in the early 1970s when China loaned us funds to build a number of medium-sized industries and had engineered the building of the largest dry dock in Europe at a time when unemployment was relatively high following the oil price shocks when Opec unilaterally tripled the prices of crude.

Since then, Malta diversified its industry and developed, apart from manufacturing, its own transhipment business, facilitating the movement of thousands of containers coming from the "Silk Road".

George Mangion, senior partner PKF Malta, attended the meeting and was pleased to meet the chairman Gengchun Yao of ZG, a new addition to a number of audit firms in China. PKF has offices in Hong Kong, Beijing and Shanghai.

In Duisburg, Mr Gengchun Yao expressed his satisfaction that the organisation of a China desk at a number of PKF network offices will contribute towards a successful implementation of the OBOR strategy.

In his opinion, the China desk, at each of the participating firms, underpin a unity of purpose. PKF Malta augurs that this bold initiative will flourish in the Asian market and looks forward to attend the next grand event in Beijing in September. We want to be part of this success story.

 


 

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