Grant Thornton expands in China

[private] Grant Thornton International has announced the appointment of a new member firm in mainland China, Grant Thornton Zhonghua, which is headquartered in Shanghai. Grant Thornton Zhonghua has 22 partners and 350 staff and will be led by Mr. Sun Yong. The firm was until recently part of the BDO International network.

Alongside this appointment, Grant Thornton China CPA Limited, the current representative firm for Grant Thornton International in China, will merge with Grant Thornton Zhonghua. The merger will create a firm with a Shanghai office of 34 partners and 590 staff with branch offices in Beijing, Guangzhou, Shenzhen, Chengdu and Qingdao. The total combined headcount for our mainland China firm and our Hong Kong member firm will be 72 partners and 1,578 staff.

David McDonnell, chief executive officer of Grant Thornton International, said, “We have been very impressed by the quality of Grant Thornton Zhonghua, which has an excellent reputation in the domestic marketplace, and by its people. This is a major step forward in our plans to build a significant and robust independent national Chinese member firm with strong international capabilities. We anticipate further integration with additional high quality Chinese accounting firms during the next 12 months to strengthen our critical mass in other key locations in mainland China.”

Mr. Sun Yong explains, “I am pleased to join the highly respected Grant Thornton International organisation. Our focus has always been on quality and building a firm of professionals who understand the social responsibilities of our profession. I believe we will be able to pursue this strategy more successfully with Grant Thornton International.”[/private]