PwC highlights Shandong business environment

Zhou Xing, China managing partner of the global consulting giant PricewaterhouseCoopers (PwC), gave a keynote speech on Shandong deepening cooperation with multinational companies at the “Connecting Shandong with Fortune Global 500” ASEAN special event, which was held on Sept 22 in Jinan, capital of Shandong.

According to Zhou, PwC is the first of the “Big Four” accounting firms to enter the Shandong market. It set up an office in Qingdao in 2006 and Jinan in 2016.

Zhou Xing, China managing partner of PwC [Photo/commerce.shandong.gov.cn]

“Over the past 16 years, PwC has witnessed the continuous improvement and optimization of the business environment in Shandong,” Zhou said.

She said that in 2018, PwC worked with the Shandong Provincial Department of Commerce to release a comprehensive evaluation report on the foreign investment environment in Shandong.

According to the report, the province’s foreign investment environment has gradually improved as the government has upgraded business systems, better delegated power, streamlined administration, and optimized government services.

Zhou said Shandong should continue to implement measures and policies to attract investment and talent and contribute to industrial development.

She also said that the province should continue to improve its business environment and increase its international profile by holding high-level business events.

In addition, she suggested that multinational companies from ASEAN countries seeking strong ties with Shandong should focus on new infrastructure, digital economy, artificial intelligence, smart cities, modern agriculture, intelligent manufacturing, energy conservation, environmental protection, and other emerging industries.

Multinational companies can also seize upon opportunities brought about by the Belt and Road Initiative and China’s other national strategies to further develop the third-party market.