At KPMG China, we always take a prudent, long-term approach to managing our finances. In FY22, we remained resilient and delivered positive growth results despite this challenging time, thanks to our growth strategy and multidisciplinary services. We will continue to innovate and become more agile in response to a complex and rapidly changing global landscape.
Nevertheless, for us prosperity is more than just about looking at our own financial growth. It is about how we, as a member of society, play a role in helping people and society to flourish and grow by creating jobs, fostering innovation and empowering underserved communities. We believe KPMG China has an important role to play and contribute to drive the country’s economic and social development in many ways.
Alignment with government priorities to foster prosperity
KPMG China is deeply rooted in China and has been growing with the country for nearly 80 years. Over the years, under the leadership of the Communist Party of China (CPC), we have witnessed that China has been moving towards a bright and prosperous future that promotes high-quality and sustainable development. And we understand KPMG has a key role to play in supporting and contributing to national policies that accelerate the path of socialism with Chinese characteristics.
Our business strategy and operations are closely aligned with the green development, innovation, rural revitalisation and coordinated regional development, and more importantly, integrate these into our business strategy.
Share insights to foster mutual growth
To help our clients and the business community better understand national strategies, KPMG China has actively shared national policy insights and released in-depth interpretation reports of key events such as the Two Sessions. We also actively participate in major national and regional meetings with various stakeholders such as government authorities, exchanges, party committees and NPOs, providing suggestions and insights into different topics that help drive mutual growth for society and businesses.
Contributing to society through party building work
Deeply rooted in China, we have established party committees in various offices such as Beijing, Shanghai and Guangzhou. These party committees implement systematic and comprehensive party building and educational activities, enabling our people to better keep abreast of national guidelines, strategies and measures addressed by the CPC. We value the exemplary and vanguard role of our party members in supporting China’s high-quality and sustainable development, and the path towards building a modern socialist country with Chinese characteristics.
Creating business and job opportunities through regional penetration strategy
In line with our three-year strategy, we continued to pursue our regional penetration strategy during FY22 by setting up five new offices in Taiyuan, Dongguan, Dalian, Nantong and Changchun, plus a KPMG Digital Ignition Centre in Dalian. This took our presence to 30 cities across China with over 15,000 people (as at 30 September 2022) and demonstrated our confidence in the Chinese economy. Building a trusted relationship with local governments, regulators and clients is critical for our business to thrive in these local markets.
Our regional penetration strategy provides a major channel for us to attract and recruit new professional service talent, either from the local employment market or universities. This creates more job opportunities, empowers local talent pools and fosters economic growth in China.
Lighthouse
KPMG Lighthouse is our Centre of Excellence for Data, Analytics, and AI, which combines the latest technologies and capabilities alongside our deep-rooted domain expertise to accelerate innovation and drive speed and relevance to our client’s businesses.
With sector expertise and experience, it offers tailored industry-specific digital solutions for clients to facilitate effective digital transformation. Our digitalisation solutions comprise four key themes - risk and compliance, insights and analysis, intelligence and efficiency, and digital middle platform.
KPMG Digital Ignition Centre (KDi)
KPMG Digital Ignition Centre (KDi) is the firm’s software development and support centre, integrating cutting edge digital solutions with our core expertise to deliver results for the firm’s business and clients.
In August 2022, KPMG China opened its third KDi in Dalian’s High-tech Zone. The establishment of the new KDi aims to accelerate digital transformation of businesses in the Northern region and to support the government's Revitalise Northeast China strategy. KPMG Digital Space, and KPMG Lighthouse’s online digital showroom, were also introduced in the opening ceremony.
To date, KPMG has three Digital Ignition Centres in China, forming the backbone of our KDi initiative in China: the Dalian centre serving clients in the Bohai Rim region, the Nanjing centre serving the Yangzte River Delta region, and the Shenzhen centre serving the Greater Bay Area.
China Alliance Strategy
Leading global and national technology firms such as Microsoft, IBM China, Tencent, Kingdee and Laiye, have been our key alliance partners in KPMG’s technology ecosystem. The relationships with these industry leaders help promote innovation and accelerate growth, and enable us to better serve our clients and run our business efficiently.
“KPMG China has always been committed to fulfilling our corporate social responsibility by using our strengths to deliver positive impact amid challenging times. We have elevated our CSR work to a strategic level by exploring the path of philanthropy through practical actions and promoting the spirit of volunteerism. We have also actively responded to national policies and our stakeholders’ expectations to align our CSR strategies with the national policies.“
KPMG Foundation
Since its inception in 2008, the KPMG Foundation has contributed over RMB 86 million in supporting non-profit organisations across China, including Hong Kong SAR, to help narrow the inequality gap, address the challenges of climate change and build trust in the community.
The KPMG Foundation also serves as a platform to engage our employees, alumni and other stakeholders in the community to deliver sustainable solutions to social and environmental challenges in China. The Foundation board meets twice a year to review proposals, select grantees and oversee the partnership’s contributions to strategically allocate funds.
CSR committee
Our CSR committee works in tandem with the CSR department to implement CSR initiatives in different offices and regions. The group is made up of like-minded colleagues from different offices who are united by their common beliefs to drive long-lasting social impact.
FY2022
CSR focuses
At KPMG China, our CSR strategy focuses on three key areas - Advancing Sustainability, Lifelong Learning and Promoting Inclusive Development. We aim to deploy our core strengths and resources, collaborating with NPOs in order to narrow inequalities, tackle climate challenges and build trust within our communities.
KPMG’s global 10by30 strategy
Economically empower 10 million underprivileged young people by 2030 through education, employment, and entrepreneurship
To align with KPMG’s global 10by30 strategy, our Lifelong Learning pillar focuses on:
Future-ready skills training
Enhance students’ employability skills for future success in the labour market through training, mentorship and access to decent work.
School-to-work transition
Support students in their transition from school to work to better understand workplace requirements and employer expectations through CV and interview workshops, career sharing, mentorship, internships, etc.
Light the future – KPMG education for empowerment
To contribute towards United Nations Sustainable Development Goal 4 Quality Education and our global 10by30 strategy, KPMG China launched a new brand for educational volunteer opportunities – ‘Light the future – KPMG education for empowerment’ – which covers all kinds of volunteering opportunities related to education, both online and offline to provide more systematic and comprehensive support to beneficiaries. We hope to establish a bridge between our people and the beneficiaries we support, using our passion and expertise to light the future for them.
Future-ready skills training
Since 2019, KPMG China has been supporting Junior Achievement (JA), which promotes financial literacy among high school and vocational school students, along with essential skills like decision making, problem solving and discipline, etc. Our people volunteered with their professional skills as speakers and facilitators at eight online and offline sessions where they helped students improve their financial literacy. The programme benefited over 1,800 secondary students in China in FY22.
Since 2021, KPMG China has been supporting the ‘JA I’m an Entrepreneur’ programme, targeting junior secondary school students. Through business simulation, students were able to acquire basic knowledge of entrepreneurship, information to start something innovative, and have a better understanding of business operations, the importance of CSR and sustainable development, which helped lay the foundation for their future entrepreneurship. To date, nearly 6,000 secondary students in China have participated in this programme, becoming inspired to be more innovative and to potentially become an entrepreneur one day.
To improve the quality of rural education and narrow the gap between urban and rural education resources, KPMG Foundation has funded the rebuilding projects for five KPMG Hope Primary Schools in Gansu, Jiangxi and Yunnan provinces since 2010. Altogether, more than 1,200 students receive their education in these Hope Primary Schools across rural China every year.
Due to the substantial improvement in rural schools' infrastructure, we are now prioritising our resources on enhancing students' essential skills, such as offering problem solving, creativity and teamwork courses. Despite the COVID-19 associated challenges, we conducted 31 sessions of virtual school missions in FY22, benefiting more than 430 students across China.
We have been collaborating with the Society for Community Organisation (SoCO) for almost 20 years. We Will Fly II, an English learning programme funded by the KPMG Foundation, aims to strengthen the English foundation of children from low-income families in Hong Kong, starting from their early childhood, aiming to improve their opportunities to access quality education and career opportunities in the future. This programme entered its sixth year in 2022, with a total of about 450 beneficiaries supported through over 1,570 sessions since its inception.
School-to-work transition
STEM is HER Future programme
Technology is key to the future of work, and yet women are not well-represented in this field. More needs to be done to advance gender equality in the fields of science, technology, engineering, and math (STEM), enabling more capable and aspiring women to pursue their passions in STEM.
KPMG China runs the STEM is HER Future programme, which aims to encourage promising female students to pursue STEM careers. In 2022, the programme was recognised by UN Women at the National Women’s Empowerment Principles awards as the top winner in the Community Engagement and Partnerships category.
Through project-based learning and competitions, along with STEM skills and business innovation knowledge training, this initiative seeks to better prepare female undergraduate students to embark on STEM-related careers. In 2022, more than 60 KPMG volunteers dedicated their time and effort to empower nearly 1,800 female STEM students across China. Internship opportunities at KPMG China were also offered to selected students to put their learning into practice through work-based learning opportunities, thus helping them in their transition from school to work.
Since 2004, the KPMG China has been a long-time supporter of the social innovation competition organised by Shanghai Yiyou Youth Service Centre (Yiyou) and Enactus Hong Kong. We recruited our volunteers to participate in this programme as business advisors and career mentors for students to instruct them during the social innovation projects. In this process, our volunteers leverage their business knowledge and professional experience to empower and guide students to overcome various difficulties along the journey.
In the 2021/2022 national Youth for Greater Good social innovation competition hosted by Yiyou, more than 100 KPMG volunteers devoted their time as business advisors and judges to empower nearly 1,000 university students in the Chinese Mainland and Hong Kong SAR.
To help migrant youth better prepare for their future career, KPMG China has provided funding and volunteer support for the ‘Shishiyoudao’ migrant youth programme organised by Qi Chuang Social Work Service Centre in Guangzhou since 2012.
In the past ten years, over 6,800 students benefitted from this programme through a series of youth development activities, such as career planning workshops, volunteers' inspiring stories sharing sessions and summer camps. In 2022, over 2,100 migrant junior secondary students participated in this programme, which helped them better prepare for their future career and integrate into the local community through companionship and support.
The KPMG Foundation has been one of the corporate partners of Project WeCan - a ‘business-in-community’ initiative run by Wharf that provides disadvantaged students with various learning opportunities to empower them to pursue higher education studies and further their careers. Over the years, different activities such as mentorship programmes, company visits and 'job tasting' programmes have been organised, enabling students to adopt positive attitudes towards their study and future career. About 960 students benefited from this initiative through KPMG China in FY22.
In August 2022, the KPMG Hong Kong office offered two ‘job tasting’ positions for students from Caritas Tuen Mun Marden Foundation Secondary School as a taster of their possible future career. Students were given the opportunity to work in both the finance and CSR teams to understand how these units support the firm’s daily operation.
By leveraging our people’s professional expertise and core competencies, we promote inclusive socioeconomic development and create shared value for society through pro bono services, thought leadership publications, upskilling programmes of rural organisations and other skills-based volunteering initiatives.
Support for rural revitalisation
China’s rural revitalisation policy is a core component of the government’s goals to promote more balanced economic and social development, and narrow the gap between urban and rural areas. We support rural revitalisation by building capacity for social organisations serving rural development in China, upgrading infrastructure and offering a variety of training courses to improve rural education quality and empower human capital development, as well as supporting waste management projects to improve the living environment and promote ecological revitalisation.
Capability building for NPOs and social enterprises
Since 2022, KPMG China has collaborated with the China Foundation for Rural Development (CFRD) to support human capital development. We are utilising our strengths to provide professional volunteering services to empower social organisations in less developed areas through CFRD. This collaboration will help improve the financial management of social organisations, promoting standardised management and professional development, thus contributing to rural revitalisation.
In 2022, with the support of KPMG China, the China Association for NGO Cooperation convened domestic microfinance experts, scholars, practitioners, and supporters to develop a joint training book for the microfinance industry. The book aims to promote the healthy development of inclusive finance and rural revitalisation.
Since 2016, we have been supporting Chongho Bridge, which is a specialized service organisation focused on serving farmers and micro-and-small businesses in rural areas by providing loans as well as services related to agricultural production, rural livelihood, community empowerment and others. Our volunteers used their expertise to help Chongho Bridge improve their financial management skills so that they can provide better financial services to benefit the rural population.
Pro bono services
In FY22, we dedicated about 10,399 pro bono professional service hours to help NPOs improve the quality and transparency of their financial reports.
Skills-based volunteering
Through skills-based volunteering, our volunteers have leveraged their core competencies to provide specialised support and services for underserved social organisations. Our skills-based training helps improve the professional skills of NPO staff in accounting, financial and other business topics, such as accounting workflow, financial management, project execution and development.
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