Kreston International has added Chinese firm Shenzhen Yida CPAs to its network.

The newly added firm counts 11 partners, as well as 100 members of staff, and offers a range of audit, accounting, tax and consulting services to both domestic and international clients in Shenzen.

Kreston chief executive officer Jon Lisby said: "Shenzhen is increasing in importance as one of the world’s fastest growing cities and one of China’s most successful economic zones in terms of manufacturing and service sectors with considerable foreign investment."

He also added the latest is the first step of Kreston’s plans to expand in China this year, and said: "We will be announcing further additions in China in the near future."

Kreston is currently the 6th ranked network in the country by fee income, according to IAB’s 2014 China survey.

A year ago, the network grew in China through the addition of Wuxi-based firm Jiangsu Gongqin CPA to its network.

Speaking to IAB in March, Lisby said he saw the growing demand for internal control and internal control design and the increasing focus on tax enforcement as likely to benefit firms in the country.

He added that "more regulation will be coming out in the next 12 months as China is moving to a more regulated and directed profession."

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