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Subject: HK Accountants in China 2 Author: IC [ Next Thread | Previous Thread | Next Message | Previous Message ] Date Posted: 08:20:06 07/29/02 Mon Better Career Prospects Tempt HK Accountants In Middle Management To Work In China 26 Apr 2002 A survey conducted among ACCA members last month finds that middle aged HK accountants, mostly in middle management, single out the PRC as their preferred country that they would consider working in. ¡§We conducted the survey to ascertain members¡¦ inclination to work outside HK and to determine the skills/knowledge that are deemed important in order to do business in China,¡¦¡¦ says Helen Liu, Head of HK Affairs. 51 % of the 301 respondents replied that they would consider working outside HK. Out of this category, 80 % of them want to work in the PRC. They are mostly managers and supervisors with over 5 years¡¦ working experience in the accounting practice and manufacturing/industry/engineering fields. 60 % of them fall into the age group of 31 to 40. Over 90 % claim that better career prospects and opportunities offered is the most critical factor in considering working in the PRC. ¡§Now that China has successfully entered the WTO, accounting professionals in middle management are highly demanded by mainland companies. If they want to enhance their career prospects and widen their scope of responsibility, China should be a good place to explore such an opportunity,¡¨ says Helen Liu. ¡§The ongoing economic hardship and territory-wide downsizing of companies with some already having moved their base to the Mainland have created a greater and greater sense of job insecurity among these people which may push them to look elsewhere,¡¨ adds Helen Liu. 76 % of the respondents that would consider working in the PRC regard knowledge systems in China as the top most important skill. Other skills like local knowledge skills and industry knowledge and know-how are also deemed important. Respondents also quoted different cultures and work attitude along with lack of network and local knowledge as major problems that they encountered when they worked in the PRC. ¡§Due to the different systems in the PRC, HK accountants may have difficulties in catching up with the latest developments in Chinese tax, accounting and audit standards. They also want to find an effective way to establish network and personal relationship with central and provincial officials such as the Customs and the State Administration of Taxation as well as the industry leaders,¡¨ explains Helen Liu. To meet the members¡¦ needs, ACCA HK will in future consider working with institutions in China to help local members to gain a comprehensive understanding of the systems and structure in China. ¡§It is important that members should continue to update their skills and knowledge and increase their marketability. We will also broaden local members¡¦ network in China by putting them in touch with over 700 ACCA members in different cities of China. Such a personal relationship should be very valuable when they do business in China,¡¨ remarks Helen Liu. According to the ACCA HK¡¦s survey, 49 % of respondents who do not consider working outside HK say satisfaction with the current situation in HK and family considerations are the two most important factors that discourage them from leaving HK. [ Next Thread | Previous Thread | Next Message | Previous Message ]