Postings | China Accounting Blog | Paul Gillis


China accounting market is turbulent

For many years I have been analyzing the accounting market in China based on data released by the Chinese Institute of CPAs. The data tell an interesting story of the development of the accounting profession.

Here are the top ten firms for 2018:

Among the more notable observations is that only one purely local firm (Pan China) has made the top ten. Most people consider all of the non-Big Four firms to be local, however. Unlike the Big Four, which tend to be managed from Hong Kong, local firms (including those with global affiliations) tend to have local Chinese leaders. Last year there were two purely local firms in the list, but Shinewing, once thought likely to lead the profession, dropped out of the top ten.

With the exception of PwC, the Big Four enjoyed strong growth rates in 2018. The Big Four grew 8% in 2018, while local firms (including those affiliated with international networks grew at a slower pace of 6.1%. While the Big Four grew faster until the global financial crisis, local firms then enjoyed faster growth rates until 2016, when the Big Four once again began growing faster.

Copyright 2020 Paul L. Gillis all rights reserved