Deloitte is suffering from the slowdown in China, which is forcing the accountancy firm to impose unpaid leave on staff, its global head said yesterday.
James Quigley, global chief executive of Deloitte, said that while the Chinese market for accountancy firms had been buoyant during the boom in initial public offerings and mergers and acquisitions, the firm had more recently been affected by a slowdown in activity.
Mainland China has seen no new initial public offerings on the Shanghai exchange since Beijing imposed a moratorium on domestic listings last September.
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