Deloitte China launches new technology innovation centre in Shanghai

27 May 2020 Consultancy.asia

Deloitte China has launched a new technology research and development venture in Shanghai geared toward accelerating the China's digital economy.

The Chinese arm of professional services firm Deloitte has launched a new digital assets and IP development center in Shanghai. Dubbed Deloitte HiTech, the centre will connect advanced technologies with business applications to drive digital transformation through innovation, with the aim of accelerating digital strategy and strengthening cooperation with the public and private sector to create a global innovation network.

“Technology innovation and digital economy are the accelerator of China's future growth and Deloitte HiTech hopes to respond to China’s call for investment in smart infrastructure and to empower innovation incubation and help digital transformation,” said Deloitte China’s Innovation Leader and Eastern Region Managing Partner Dora Liu, who first joined the firm’s Shanghai office in 1993.

Present at the launch ceremony alongside Deloitte China CEO Patrick Tsang and other senior industry leaders and government dignitaries, Liu led a panel discussion on “New infrastructure and the new online economy,” examining how new infrastructure driven by innovative technology and information networks can support high-quality development, intelligent upgrading, and integrated innovation.

Deloitte China launches new technology innovation centre in Shanghai

Among others participating in the discussion were Ericsson China executive vice president Michael Wei and Plug and Play CEO Peter Xu, while Shanghai Municipal Commission of Commerce deputy-director Yang Chao also attended the launch. “We want to deepen digital strategy deployment in China and expand partnership with government agencies and industry stakeholders here,” said Deloitte China CEO Tsang.

According to reports, the new Deloitte centre has been established with over $4 million in registered capital, while the city of Shanghai is said to be planning an investment of at least 270 billion yuan into digital infrastructure over the coming three years in an effort to further boost the city’s innovation and economic development – cementing its status as the nation’s and one of the world’s emerging technology hot-spots.

In the middle of 2018, fellow Big Four Ernst & Young launched its globally-networked wavespace innovation centre in Shanghai also, with former EY Global CEO Mark Weinberger citing the local government’s determination to promote technology and innovation as a major factor for the choice of location, while last week foreign investment consultancy OCO Global also selected Shanghai for its Chinese expansion.