Professional services provider Deloitte announced on 25 Sept in Shanghai a strategic investment program of $200 million in China, as the company celebrates a century of work in the nation.
The huge investment is aimed at building a stronger and more innovative business model in China, at a time when the nation is undergoing economic transformation and generating more Fortune 500 companies.Included in the program is a $40 million investment specifically for the purpose of helping Chinese companies participate in the Belt and Road Initiative on a global scale.
According to Vivian Jiang, deputy CEO of Deloitte China, the initiative, which is seeing huge energy infrastructure, technology and industrial capacity, offers her firm plenty of opportunities.
"The central government has been supporting companies to realize overseas investment in the form of a consortium or a group," she said.
"Regarding this trend, Deloitte would like to help these outbound Chinese companies to set up an industrial ecosystem which can facilitate their overseas investment."
She also suggested that companies should have a thorough understanding of the local political, economic and legal risks while participating in the Belt and Road Initiative. Companies should make their financing plans more diversified and efficient. They should also have a more internationalized workforce.
Another major purpose of the $200-million investment is to support the digital transformation and innovation of Chinese companies, said Dora Liu, managing partner of Deloitte China Eastern Region.
To that end, the Deloitte Greenhouse creative space was set up in Shanghai in February, which was the first of its kind in China. In addition, the company established its Asia-Pacific blockchain lab in Hong Kong earlier this month.
"Artificial intelligence, blockchain, cloud computing, data analytics and robotics will be the five areas where Deloitte will keep an eye on in terms of technology advancement," said Liu, stressing it imperative for Deloitte to invest in innovation and technology as people's ways of doing business have been changed at the rapidly digitalizing age.
Source: China Daily