Core Viewpoint - Hong Kong-based accounting firms are planning to expand their workforce in 2026 while increasing the use of artificial intelligence (AI) to support staff and attract new talent to the profession [1] Group 1: Workforce Expansion and AI Integration - KPMG China emphasizes that AI is not a replacement for human workers, and there has been no reduction in hiring; the firm plans to continue hiring in the future [2] - AI is seen as complementary to human staff, improving quality and efficiency while aiding in talent attraction and retention [2] - Deloitte China plans to hire approximately 1,000 people in Hong Kong and invest HK$500 million (approximately $64 million) over the next four years to enhance capabilities in fintech, capital markets operations, and AI [4] Group 2: Talent Attraction and Job Role Evolution - EY's senior partner highlights that young professionals are interested in careers in debt restructuring and liquidation, expecting employers to provide AI tools to enhance efficiency [5] - EY plans to expand its team from 80 to 130 by 2026, anticipating increased demand for debt restructuring and liquidations due to a weak economy [5] - AI is enabling accountants to take on new job roles, which aligns with the interests of younger professionals [3] Group 3: Efficiency and Document Management - AI is effective in analyzing large data sets, detecting anomalies, and summarizing documents, significantly improving efficiency in restructuring and liquidation processes [6] - The use of AI has accelerated paperwork analysis by over 10 times, making these roles more appealing to young talent [7] - Companies are increasingly open to preventive restructuring to adapt to uncertainties such as geopolitical tensions and tariffs [6]

Core Insights - Hong Kong-based accounting firms are planning to expand their workforce in 2026, aiming to attract newly qualified accountants while increasing the adoption of artificial intelligence [1][5] Group 1: AI and Workforce Expansion - KPMG China emphasizes that AI is not a replacement for human workers but rather a complement, with no plans to reduce hiring despite AI integration [2] - AI is seen as a catalyst for talent attraction and retention, improving quality and efficiency in accounting roles [2][5] - Other major accounting firms are also unveiling hiring plans while deploying AI without replacing human staff [5] Group 2: Specific Hiring Plans - Deloitte China plans to hire approximately 1,000 people in Hong Kong and invest HK$500 million (US$64 million) over the next four years to enhance capabilities in fintech, capital markets operations, and AI [6] - EY's senior partner plans to expand his team from 80 to 130 by 2026, anticipating increased demand for debt restructuring and liquidations due to economic challenges [7] Group 3: Role of AI in Accounting - AI assists accountants in taking on new job roles, which aligns with the interests of young professionals seeking diverse career opportunities [4] - AI's capabilities in summarizing documents and transcribing meeting minutes significantly enhance efficiency in handling large volumes of documents and transaction records [8]

Core Insights - The first wave of commercial Chinese real estate investment trusts (REITs) is expected to launch in the next two years, with strong demand anticipated for Greater Bay Area (GBA) assets, which may be oversubscribed [1] - The National Development and Reform Commission (NDRC) has updated the eligibility list for C-REIT programs to include commercial real estate such as shopping centers, hotels, and office buildings, expanding the categories to over 10 [2] - The expansion aims to promote the role of infrastructure REITs in supporting the real economy, aligning with China's goals for high-quality urban development and consumption boosting measures [4] Market Growth - China's pilot C-REITs, launched in 2021, have raised over 200 billion yuan (approximately US$28.3 billion) with nearly 80 C-REITs by the end of last month [5] - The REIT market in China has shown remarkable growth, with an approximate 85% increase in market value last year, positioning it among the top three REIT markets in Asia for the first time in 2024 [6] - The C-REIT market, with only four years of history, is still relatively young compared to mature markets like the US and Japan, indicating significant potential for future growth as it matures and diversifies [7]

Group 1 - Deloitte China plans to hire approximately 1,000 people in Hong Kong and invest HK$500 million (US$64 million) over the next four years as part of a new initiative to enhance the city's role as a regional talent and innovation hub [1] - The initiative, named the "Hong Kong LEAP" strategy, aims to expand capabilities in fintech, capital markets operations, and artificial intelligence, which are crucial for the city's economic transformation [2] - The strategy was unveiled alongside Deloitte's 2025 Hong Kong Economic Outlook white paper, which identified four growth engines for the city: financial innovation, support for mainland enterprises' global expansion, regional innovation and technology collaboration, and acceleration of the green transition [3] Group 2 - Deloitte China CEO Dora Liu highlighted Hong Kong's potential as a "super connector" between mainland and international markets, leveraging global geopolitical shifts and national strategic priorities [5] - The new positions created by Deloitte will focus on financial services innovation, capital market advisory, and AI development, reflecting Hong Kong's efforts to diversify beyond finance and property amid sluggish growth [6] - New investments and job creation by global firms are anticipated to restore momentum in Hong Kong's professional services and technology sectors [7] Group 3 - Hong Kong led the global rankings in initial public offering fundraising during the first three quarters of 2025, driven by strong capital inflows and the rise of offshore yuan and green bonds [8] - Deloitte called for policymakers to broaden investment schemes to include digital assets and enhance cross-border cooperation in the Greater Bay Area [8]