29 Jan 2020
We are pleased to announce that PKF Shiodome, our member firm in Japan, has recently established a China Desk to meet the business needs of both its Chinese and Japanese clients. The Desk aims to provide services to Chinese companies to set up firms in Japan and services to Japanese companies to venture into the China market.
About the Desk
The China Desk team has eight members including consultants who have extensive experience in assisting Chinese companies as they expand their business into Japan, as well as bilingual consultants who can assist clients in Chinese and English. The firm is committed to providing Chinese companies with one-stop support around a wide range of services ― accounting, tax, human resources and payroll, legal, and other consultancy services they need as they venture into the Japanese market. We also provide advisory services through obtaining information on China’s tax system. Additionally, by working with PKF International, it will be possible for us to provide high-quality and efficient support based on the latest, advanced information.
The establishment of the Desk
The total value of foreign direct investment (FDI) into Japan has been on an upward trend in recent years, together with the rapid increase in the number of foreign enterprises venturing into the Japanese market. At the same time, Japan’s own business landscape is seeing a growth in the outward flow of business, with more and more Japanese companies expanding their business overseas. In particular, FDI flowing into Japan contributed by Chinese companies continues to increase, and more Chinese companies are entering Japan.
In 2011, China’s economy overtook Japan in terms of GDP ranking with the tremendous momentum of its economy, leaving Japan third on the list. A British investment bank and a holding company, HSBC Holdings plc, forecasted that China is expected to overtake even the United States and become the world’s largest economy by 2030.
Shiodome Partners has taken the initiative of establishing the China Desk to best meet the needs of both Chinese and Japanese enterprises and to provide them better opportunities to expand their business. We expect that both Chinese companies’ direct investment in Japan and the number of Chinese companies expanding into Japan will keep growing in the future.