Deloitte plots US$150 million China expansion
3 March 2004
Deloitte Touche Tomatsu said it will spend US$150 million to expand in China and Hong Kong over the next five years. The US accounting firm said it will boost staff from 3,000 to 8,000 and acquire local competitors. The move comes in response to both stiffening competition from overseas rivals as well as the rising need for auditing and accounting services as more and more mainland firms prepare to list on the capital markets.