Latest news with #PatrickTsang
South China Morning Post
4 days ago
- Business
- South China Morning Post
Deloitte China launches global office to help mainland clients navigate trade tensions
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. Advertisement '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. 03:01 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. Advertisement 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.
South China Morning Post
17-05-2025
- Business
- South China Morning Post
Hong Kong prepares for a grand homecoming as mainland firms face US delisting threats
In the second instalment of a three-part series on financial decoupling between China and the US, experts tell the Post how pressure on US-listed companies from the mainland could be a windfall for Hong Kong's markets. Read the first part here A month ago, Patrick Tsang, the CEO of Deloitte China, learned that the US government had declined to rule out the possibility that Washington could delist Chinese stocks from American exchanges. For Tsang, a long-time accountant who is also a member of Chief Executive John Lee Ka-chiu's policy unit, the delisting threat seemed like a golden opportunity for Hong Kong. Around 286 mainland companies trading in the US came under threat of delisting after Treasury Secretary Scott Bessent said in early April that 'everything's on the table', as worries about decoupling emerged amid a US-China tariff war. Tsang immediately rounded up a capital markets team at Deloitte to produce proposals on how Hong Kong could prepare for the situation. Last week, he submitted a paper to the Chief Executive's Policy Unit, outlining four major strategies to bolster Hong Kong's financial preparedness, including simplifying listing procedures and finding funding for these companies.
