China urges PwC’s global chair to strictly abide by rules and regulations after Evergrande debacle

Vice-Finance Minister Guo Tingting told PwC’s global chair Mohamed Kande during their meeting on September 19 that he hoped the Big Four firm would strictly abide by China’s laws and regulations, and adopt effective measures to correct mistakes, the statement said.

Guo said that Beijing continues to focus on creating a market-oriented, legal and business environment on par with international standards. The minister added that he hoped PwC would be a part of that development and continue to “play an active role in China’s reform and opening up and high-quality development”.

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A vanishing fairyland dream: how China Evergrande rose, then crashed

A vanishing fairyland dream: how China Evergrande rose, then crashed

PwC Zhong Tian was also banned from operating for six months and the registration of its branch in Guangzhou was revoked, where Evergrande is based.