15 September 2010 (Hong Kong) - Reanda Forms International Network to Venture into Global Marketplace

Group Photo

As China's first professional accounting network building an international presence, Reanda International Network heralded a major milestone in its expansion with seven members from across Asia formally signing up and jointly declaring the launch of the Network on 15 September 2010.

Highly recognised and appraised by China's Ministry of Finance and the Chinese Institute of Certified Public Accountants (CICPA), Reanda is a pioneering CPA organisation in China that collaborates with members from different countries and regions, targeted to assist China accountants to expand internationally. The formation of Reanda International Network was formally announced at Diaoyutai State Guest House last year and in the interim, Reanda has been progressively approaching and recruiting members from Asia.

Following China Government and CICPA's directives on "Be Big and Be Strong" and "Going International", Reanda has mapped out a mid to long-term strategic development and globalisation plan. Besides providing a much needed gateway for domestic accountants to expand their operations to overseas, Reanda also targets to offer comprehensive professional accounting, legal and related services to organisations hoping to establish and grow their business both in China and internationally through the assistance of the newly formed Network.

Over 150 industry professionals and media today attended the Reanda International Network's signing and inauguration ceremony at JW Marriott Hotel Hong Kong. Also participating were Mr Chen Zhaobin, Deputy Director-General Coordination Department, Liaison Office of The Central People's Government in The Hong Kong S.A.R., Mr Liu Zhongli, President of the CICPA; Mr. Chen Yu Gui, Party Secretary of the CICPA; Mr. Zhou Daojiong, Ex-President of China Securities Regulatory Commission & Ex-President of China Construction Bank; Representatives from regional professional bodies, such as Mr Wilson Fung, President of Hong Kong Institute of Certified Public Accountants and Dr Ernest Kan, President of Institute of Certified Public Accountants of Singapore. Mr. Wang Liyan, Reanda Senior Consultant, Professor & Doctoral Supervisor of Guanghua Management School of Peking University; Mr. Phillip Tsai, Partner of Deloitte Touche Tohmatsu; Mr. Song Hong, General Manager of CCG Asia; Mr. Chu Zhi Nong, CEO of Hong Kong China Chamber of Commerce Ltd etc also joined this very important occasion.

The world's economic and financial development has shifted its focus to Asia, in particular China, and is clearly accelerating after the financial tsunami that impacted upon the global economy over the past two years. Meanwhile, Chinese enterprises are also gearing up to seek investment opportunities around the world, while more foreign companies look to China to further expand their markets. Business leaders and senior corporate executives require access to timely and exact information and resources, as well as all necessary professional advices and support in order to promote the outcome of crucial investment decisions.

Recent developments based upon CEPA and the development of the Pearl River Delta have also fuelled the increased integration of Hong Kong's economic growth with that of the Mainland, opening up new frontiers for Hong Kong's professional services sector to offer their overseas networks expertise and international experience to help all businesses maximise such an exciting opportunity.

Reanda International Network has been established with a mandate to assist Chinese enterprises conduct international business, while at the same time also providing an essential springboard to foreign enterprises planning investment into China. The Network's industry-focused services in the fields of assurance, tax, transactions, performance improvement and public listing address client and stakeholder issues while also serving as a force for integrity, good sense and wise solutions to the problems facing businesses and capital markets today

With annual revenues exceeding USD 70 million, Reanda Group comprises 26 offices worldwide employing 90 partners and 2,300 employees, confirming the Group's leading position in the marketplace and its potential for future growth. The establishment of Reanda International Network signals the entry of the first China branded international CPA firm into the global marketplace and provides a platform for other CPA organisations to enter the China market. To date seven new member countries have signed with the Network: China, Hong Kong Japan, Singapore, Malaysia, Macau and Cambodia.

As part of its ongoing development, the Network will continue to recruit members from the remaining Asean countries, as well as Australia. CPA firms from other continents with existing relationships with Network members and who have also expressed interest in becoming part of the Network will also be approached, with a target of growing the membership to 10 by 2012.

Mr Liu Zhongli, President of the CICPA

Mr. Chen Yu Gui, Party Secretary of the CICPA and Mr. Huang Jinhui, Chairman of Reanda International Network Ltd

Mr Chen Zhaobin, Deputy Director-General Coordination Department, Liaison Office of The Central People's Government in The Hong Kong S.A.R.