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PwC invests $140 million in China tourist hub for learning centre

Reuters
·1-min read
FILE PHOTO: Logo of Price Waterhouse Coopers of PWC office in Berlin

HONG KONG (Reuters) - PwC said on Saturday it plans to invest more than 1 billion yuan ($140 million) to establish an education and innovation centre China's island province of Hainan, a tourism hub.

The Reimagine Park project, to occupy 16 acres in Sanya in the Chinese southern province, is due to open in 2025.

"I have absolutely no doubt the China market will rebound," Raymund Chao, chairman of PwC Asia Pacific and China, told Reuters, after Beijing this week eased many of the nation's strict COVID-19 curbs. "I can't tell you when but I'm very confident."

The accounting and consulting firm partners with business schools such as INSEAD and Thunderbird School of Global Management to provide learning and training opportunities at the park for executives in the business community, it said.

($1 = 6.9559 Chinese yuan renminbi)

(Reporting by Selena Li; Editing by William Mallard)