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PwC

PwC
The latest news, analysis and opinion on PwC. In-depth analysis, industry insights and expert opinion.
Several government funds have been formed in China to support investments in key projects. Photo: NurPhoto via Getty Images
Venture capital market

China’s state-led venture capital revival risks losing momentum

Four government funds formed to back projects, but lack of funding diversity could risk stalling the industry again if policy shifts.

Hong Kong budget 2026-27

Hong Kong seeks to hone edge as offshore yuan hub, digital-asset front runner

Hong Kong economy

Hong Kong workers lag regional peers in AI use, lose out on pay, security: PwC

US-Venezuela conflict

‘Expansion to defence’: China firms strategise in Latin America after Venezuela

After the abduction of former Venezuelan president Nicolas Maduro, many Chinese entrepreneurs in the region say they are staying put – for now.

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Illustration: Lau Ka-kuen
Fintech

Why Hong Kong is emerging as the world’s AI crossroads between East and West

Hong Kong’s AI sector comprises 500 organisations, 290 companies and 183 investors active in finance, healthcare and government services.

China economy

China’s cabinet clears path for VAT law to take effect next month

State Council approves draft regulations to implement the new law, which aims to govern China’s biggest source of tax revenue.

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Hong Kong property

Kai Tak Stadium lifts Hong Kong’s status as major sports and entertainment venue

The 50,000-seat stadium drives repeat tourism, supports retailers and helps prop up retail property landlords, experts say.

An aerial view of Kai Tak Stadium. Photo: Eugene Lee
China travel

Snowcapped prosperity: China’s winter sports market glides upwards

Growing participation and government support are fuelling innovation in equipment, expanding domestic resorts, and creating new jobs in China’s ice and snow economy.

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Banking & finance

First-mover advantage key to Hong Kong’s success in multicurrency stablecoins

Multicurrency stablecoins are designed to maintain their value by being backed by a basket of fiat currencies on a blockchain.

Semiconductors

A third of chip supply threatened by climate change by 2035: PwC

The acceleration of climate change may prove calamitous for semiconductor production, which relies on copper, a new report says.

Extreme climate and drought are threatening the chip industry, according to a new report from PwC. Photo: EPA-EFE
Banking & finance

Macroscope | How the obsession with risky assets is putting global finance in peril

From the speculative frenzy over digital assets to the assault on bond markets, the next financial crisis will be self-inflicted.

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An activist in Sterling, Virginia, calls out an attendee at an exclusive dinner at the Trump National Golf Course, on May 22. Photo: AP
Mainland China

In Hong Kong and globally, AI is not a job and wage killer, PwC says

Across all industries, roles that ‘collate AI with human expertise’ are in demand and command a premium, report says.

Taiwan economy

Trade war elephant in the showroom at Computex Taipei, Asia’s biggest tech expo

As Trump threatens to reinstate high tariffs on Taiwan, tech-sector exporters reliant on the US market fear the worst.

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Fame and celebrity

Who is OnlyFans CEO Keily Blair, who claims the platform is ‘feminist’?

Keily Blair was a partner at a law firm before taking the reins at OnlyFans, but the Taylor Swift fan said a bank once refused her custom because of her connection to the platform.

Keily Blair, CEO of OnlyFans, at The Wall Street Journal’s Future of Everything Festival in 2024. Photo: Reuters
Hong Kong stock market

Unitree leads influx of mainland companies eyeing IPOs in Hong Kong

Surge in listing plans augurs well for city’s effort to claw way back to top of global ranking of fundraising destinations.

Shanghai-based Auntea Jenny aims to raise up to US$35 million in a Hong Kong share listing. Photo: Sohu
Accounting and auditing

Hong Kong is bridge between China and the world for accounting, Paul Chan says

Ministry of Finance will continue to support Hong Kong in cross-border accounting regulation and talent nurturing, vice-minister says.

Accounting and auditing

China urges audit firm PwC to strictly abide by rules and regulations

China’s vice-finance minister met PwC’s chief in Beijing following a hefty fine and suspension handed to the firm’s mainland unit over auditing failures at Evergrande.

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Accounting and auditing

PwC invests in ‘high quality’ business to survive in China after fine

PwC Zhong Tian was hit with a six-month suspension and a fine of 441 million yuan on Friday over the firm’s audit of failed property developer China Evergrande Group.

A man walks by the audit firm PricewaterhouseCoopers (PWC) office, at the Fortune Financial Center in Beijing on August 27, 2024. Photo: AP.
Accounting and auditing

China slaps PwC with record US$62.2 million fine, 6-month ban

Beijing wants to send a strong message to auditors about their role as gatekeeper, Hong Kong lawmaker Edmund Wong says.

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Accounting and auditing

Struggling Country Garden drops PwC amid turmoil in China property sector

Country Garden drops PwC as its auditor, in another setback for the firm that has lost more than 50 clients this year.

Accounting and auditing

PwC China unit faces record fine, 6-month ban for Evergrande audit failures

PwC’s mainland unit could face a 500 million yuan (US$70 million) fine and a six-month ban on business for its failure in the audit of bankrupt developer China Evergrande Group, sources say.

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PwC Zhong Tian faces a fine and a ban for its alleged failures in auditing China Evergeande’s books before its collapse. Photo: Weibo
China property

Evergrande liquidators sue PwC for ‘negligence and misrepresentation’ in audit

PwC, former auditor of the collapsed developer China Evergrande Group, is facing legal action from the liquidators of the company, the latest setback for the accounting firm.

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A woman walks through a deserted Evergrande commercial complex in Beijing in July 2024. Photo: AP Photo
Accounting and auditing

Hong Kong and mainland China team up on investigating PwC’s audits of Evergrande

China’s Ministry of Finance and Hong Kong’s audit regulators have been assisting each other in their respective investigations of PwC’s audit work of China Evergrande Group.

Accounting and auditing

Hong Kong’s regulator partially clears PwC in whistle-blowing case

Review of PwC’s internal investigation shows there is no evidence to support some of the allegations made by anonymous whistle-blowers, AFRC says.

Accounting and auditing

PwC starts mass lay-offs in China after losing dozens of clients

More than 30 publicly listed companies including state-owned giants PetroChina, China Life Insurance and Bank of China, dropped PwC as their auditor after an alleged accounting fraud at China Evergrande Group.

Logo of PricewaterhouseCoopers in China. Photo” Weibo.
IPO

Hong Kong IPOs: PwC cuts 2024 fundraising prediction by 20% to US$10.2 billion

About 80 companies could list in Hong Kong this year, raising a total of HK$80 billion (US$10.2 billion), much lower than the HK$100 billion previously anticipated, PwC says.

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Accounting firm PwC is cautiously optimistic about fundraising activity on the Hong Kong stock exchange in the second half of the year. Photo: Jelly Tse
Accounting and auditing

Another Chinese firm abandons PwC as regulators tighten scrutiny of auditor

China Merchants Shekou Holdings, the property arm of the state-owned group, said it will hire KPMG, reversing its decision to appoint scandal-plagued PwC.

Accounting and auditing

Another big client ditches PwC as firm faces fines over Evergrande audits

State-owned China Cinda Asset Management is the latest major client to terminate its contract with PwC, after several big firms cut ties with the auditor amid growing concerns about possible financial fraud tied to embattled developer China Evergrande.

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