Helping our clients succeed
Deloitte UK is actively working with many businesses across the UK to help them expand in China. Below are three brief success stories of clients that we have recently helped:
Story 1: Establishing a business in China
A UK marketing business wanted to set up a company in China to take advantage of the growing opportunities with Chinese clients. Deloitte UK was engaged to assist with their expansion activities. We helped the company to define their ‘China strategy’ to achieve their commercial objectives; we assisted with their site selection process by negotiating with the local government authority to maximise financial subsidies and other government support for establishing a new business in China; and, the company also used our ‘one-stop' incorporation service, which included:
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Obtaining a Chinese business licence;
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Completing all necessary registrations once the business was established;
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Book-keeping and meeting accounting standards in China;
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Complying with Chinese business regulations and tax laws;
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Providing payroll support; and,
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Other advisory services.
This client has reaped the rewards of expanding into China, and recently opened a second office after only a year of trading in the region.
Story 2: Expanding operations in China through joint ventures
A leading UK university wanted to explore options for expanding its operations in China. They sought to collaborate with local education and research institutions, public service providers, and commercial organisations. Deloitte UK worked with the university to develop a financially viable business model to enter China. Careful analysis was undertaken to review China’s complex regulatory environment (as “Education” is a restricted sector for foreign providers in China), and tax and foreign exchange implications (e.g. how to repatriate cash generated from projects in China). Through thorough research and planning, combined with our expertise, the university established agreements with joint venture partners. It now runs a variety of successful projects in China, including academic exchanges and commercially funded research.
Story 3: Strengthening UK regional business ties with China
Deloitte UK helped to establish the Manchester-China Forum to increase Greater Manchester’s commercial connectivity with China, which was launched in May 2013 by Chancellor, George Osborne. As a founding Board member, we worked closely with other members, to develop a comprehensive strategy to increase inbound and outbound business opportunities with China, and also encourage businesses with an interest in strengthening ties with the Greater Manchester region and China, to become a member of the forum.
www.manchesterchinaforum.com
The information provided here does not constitute professional advice and is subject to conditions detailed here - Deloitte - Profile
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