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March 2, 2011

Chinese firm Shine Wing joins Praxity

Shine Wing, one of the largest independent CPA
firms in China, has joined global alliance Praxity.

Shine Wing has 2,300 staff in 14 offices
across Mainland China and is believed to generate revenue of about
CNY600 million.

The firm provides audit, management
consulting, accounting and bookkeeping, tax and other advisory

According to the Chinese Institute of
Certified Public Accountants, Shine Wing is the seventh largest
firm in Mainland China.

The firm is headquartered in Beijing and has
branch offices in Shanghai, Shenzhen, Chengdu, Xi’an, Tianjin,
Qingdao, Changsha, Changchun, Dalian, Guangzhou, Yinchuan, Jinan
and Kunming. Shine Wing is one of the first Chinese firms to set up
firms abroad with a presence in Hong Kong, Singapore, Japan and

H-share accredited

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Shine Wing has a strong reputation in China
and was granted a coveted H-Share audit licence to carry out audit
work on companies listed on the Hong Kong Stock Exchange.

The addition of Shine Wing is a major coup for
Praxity, the world’s largest association of independent firms with
combined member firm revenue of $3.3 billion.

The International Accounting Bulletin
understands Shine Wing joined Praxity because the firm is fiercely
independent and would suit a much looser alliance model as opposed
to joining a closely integrated network.

Another benefit is that Praxity has a
non-exclusive member firm policy where more than one firm per
country can be a member.

Praxity will provide Shine Wing with a global
reach, which is important to the firm as a large part of its work
is outbound.

Praxity’s other member firms in China include
Mazars and a Chinese office of the US firm Plante &

Praxity chairman Jos van Huut said: “ShineWing
joining Praxity is not only a testament to the serious outward
looking and dynamic nature of ShineWing, and of their commitment to
give their clients the best possible professional support, but also
is further confirmation that the alliance model adopted, by the
Praxity firms, is an excellent model for well established
independent professionals to best fulfil clients’ needs.”

The International Accounting
annual China survey of accounting firms is due to
be published this month.

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