May 11, 2009 (China Knowledge) - KPMG China, the first international accounting firm to be granted a joint venture license in China, recently has signed a memorandum of understanding (MOU) with China's Ministry of Commerce (MOC) to stimulate the development of the service outsourcing industry in China, the Shanghai Securities News reported.

The MOU is part of the Chinese government's "Thousand-Hundred-Ten Project" plan for enhancing the service outsourcing industry, which aims to promote the service outsourcing industry and help coordinate the economic development of different regions in China so as to enhance the country's economic strength.

Ning Wright, who is the partner in charge of Sourcing Advisory for KPMG China, said that the MOU enables the company to directly contact decision-makers at the MOC. The company will be one of the main consultancy services for China's service outsourcing industry.

The government has also decreed other stimulus measures, including tax concessions, financial subsidies and intellectual property right protection, to support the development of the service outsourcing industry.

KPMG China has 12 offices in Greater China employing more than 8,500 professionals.