ISCA Aims to Open its First Representative Office in Nanjing, Expanding Global Presence with Strategic Initiatives in China

ISCA Aims to Open its First Representative Office in Nanjing, Expanding Global Presence with Strategic Initiatives in China

Singapore, 3 December 2024 – To better support businesses based in China and Singapore, the Institute of Singapore Chartered Accountants (ISCA) has signed a Memorandum of Understanding (MOU) with the Suzhou Industrial Park Finance and Audit Bureau and the Suzhou City Institute of Certified Public Accountants today. This strategic partnership is aimed at expanding ISCA's presence in China and promoting collaborative efforts in talent development, industry growth, and economic advancement, within the business community, particularly in the professional services sector.

The signing took place at the 18th Singapore-Jiangsu Cooperation Council (SJCC) meeting, which was co-chaired by Ms Indranee Rajah, Minister in the Prime Minister's Office and Second Minister for Finance and National Development, and Mr Xu Kunlin, Governor of Jiangsu Province. The MOU was signed by Director of the Finance and Audit Bureau of Suzhou Industrial Park Mr Shen Xiaoming, President of the Suzhou Institute of Certified Public Accountants Mr Shi Yixing, and ISCA President Mr Teo Ser Luck.

The MOU will focus on fostering collaboration between Suzhou and Singapore in areas such as talent development, industry innovation, and economic growth. As part of ISCA’s ongoing commitment to supporting the global business community, this partnership will also pave the way for new opportunities for professional services firms to collaborate across borders.

In addition, ISCA plans to set up its first representative office in Nanjing at the Singapore-Nanjing Eco Hi-Tech Island (SNEHTI). Nanjing Eco Hi-Tech Island is a prominent project under the Singapore-Jiangsu cooperation, with vast potential for growth in various industries. The establishment of ISCA's new office in this key location signifies a strong commitment to enhancing Singapore-China relations in financial technology innovation, environmental, social, and governance (ESG) initiatives, and green finance.

The office in Nanjing will help to strengthen ties between Singapore and China by leveraging the vast resources of local universities and collaborating with businesses and professional services firms.

To mark this significant milestone, ISCA co-hosted an unveiling ceremony for its Nanjing office at SNEHTI today. The ceremony was attended by distinguished guests, including Minister Indranee.

ISCA’s global strategy reflects its role as the national accountancy body of Singapore, with a clear vision to position Singapore as a premier global accounting hub. This new chapter in Suzhou and Nanjing marks a pivotal step in ISCA’s commitment to fostering international collaboration and leadership in the professional services sector.

ISCA President Mr Teo Ser Luck said: "The establishment of ISCA representative offices marks a crucial first step in our broader strategy to expand our presence in China. This move is key to fostering stronger partnerships and investments between professional services firms, including accounting firms, accountants, and businesses across both countries. We are also committed to collaborating with universities and developing more accredited training organisations to enhance student exchanges and internship opportunities. Additionally, our offices will serve as a vital resource for trade and business associations seeking to internationalise. Through these initiatives, we aim to drive innovation, professional excellence, and sustainable growth, while reinforcing ISCA’s role as a key enabler of Singapore’s international economic strategy."

“The establishment of ISCA’s new representative office in Nanjing underscores the deepening collaboration between China and Singapore,” said a spokesperson from the Nanjing Municipal Government. “As our two countries continue to strengthen economic ties, we are confident that this partnership will yield long-term mutual benefits for our business communities and professional services sectors.”

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For more information, please contact:

Seah Yi Qin
Manager, Communications
Tel: 9833 3904
Email: yiqin.seah@isca.org.sg

About the Institute of Singapore Chartered Accountants (ISCA)

The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore with over 36,000 ISCA members making their stride in businesses across industries in Singapore and around the world. ISCA members can be found in over 40 countries and members based out of Singapore are supported through 12 overseas chapters in 10 countries.

Established in 1963, ISCA is an advocate of the interests of the profession. Complementing its global mindset with Asian insights, ISCA leverages its regional expertise, knowledge, and networks with diverse stakeholders to contribute towards the advancement of the accountancy profession.

ISCA administers the Singapore Chartered Accountant Qualification programme and is the Designated Entity to confer the Chartered Accountant of Singapore – CA (Singapore) – designation.

ISCA is a member of Chartered Accountants Worldwide, a global family that brings together the members of leading institutes to create a community of over 1.8 million Chartered Accountants and students in more than 190 countries.

For more information, visit www.isca.org.sg.