Deloitte China will set up a new global office, increase headcount and invest in technology to support its mainland Chinese clients’ global expansion plans while helping them navigate geopolitical tensions, according to its new boss.
“The current US-China tariff dispute presents a golden opportunity for Chinese companies to truly go global,” said Dora Liu, who took over as CEO of Deloitte China for the next four years on Sunday. “We see a trend of Chinese companies now expanding to Southeast Asia, the Middle East and Central Europe.”
She is the first woman to lead Deloitte China, taking over from Patrick Tsang, who has become a senior partner of the firm.
Mainland Chinese companies are increasingly seeking new supply chains and new markets amid the US-China trade war. The dispute escalated after US President Donald Trump on April 2 introduced the so-called “reciprocal tariffs” on imports from China and other countries, but a temporary 90-day truce last month considerably reduced the tit-for-tat tariffs on both sides.
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US appeals court allows Donald Trump’s tariffs to stay in effect
US appeals court allows Donald Trump’s tariffs to stay in effect
The US Court of International Trade in Manhattan ruled on Wednesday against Trump’s move to impose punitive tariffs on the nation’s trading partners, saying the president overstepped his authority, but analysts said the uncertainties surrounding the trade disputes were a concern.
Liu said these uncertainties would bring new opportunities. She planned to establish a global office at Deloitte China, involving dozens of regional and global partners and staff to help multinational clients and mainland Chinese companies achieve their global goals.
