PwC puts focus on drive for staff

One of the world's big four accounting firms, PricewaterhouseCoopers LLP, will increase its headcount in China by 63 percent by 2011 as the country's listing and merger and acquisition activities expand.

PwC will have a payroll of 13,000 employees in China from 8,000, Samuel A. DiPiazza, global chief executive officer of PwC, said yesterday in Shanghai.

"People are our most valuable asset," said DiPiazza. The company announced the appointment of 55 new partners in China's mainland and Hong Kong, with 40 of them from the mainland.

Partners in China accounted for five percent of PwC's partner pool worldwide and the level is expexted to double in five years, he said.

The accounting firm's turnover rate in China is in line with its global average of 15 percent said Nora Wu, lead partner the firm's Shanghai office.

The accounting firm will hire 500 staff in Shanghai among its recruitment plan of 1,800 in the country this year.

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