Recruiting in China

Pricewater-houseCoopers (PwC) plans to hire about 2,000 graduates in China next year, as part of its long-term plan to expand in the country despite the global credit crunch, the firm's China operations head said yesterday.

PwC, one of the world's "Big Four" auditing firms, also plans to retain the pace of hiring for the next three to five years and will open new offices in the country "very soon" to support its rapid business growth, said Frank Lyn, PwC's China markets leader.

Lyn added that Chinese companies intending to expand in the West through mergers and acquisitions could wait another six to nine months when deals are expected to be cheaper.

"The current economic crisis is something that everyone is very, very concerned about," Lyn said.

"But if you take a longer-term view and the fact that we're here to stay, we are not just hiring for now but ready to train our people for the next five to 10 years," he said.

Last year, PwC hired 1,800 graduates and 800 experienced executives in China, Lyn said, adding it would be difficult to forecast how many experienced staff would be hired next year because the market environment will be different.

PwC has about 11,000 employees in the Chinese mainland, Hong Kong and Macau.