Could you please comment on the markets you operate in and the opportunities you see there at the moment?

We have 257,900 members and 530,100 future members in 180 countries and we’re continuing to see growth across the world with a skills gap in many economies driving demand for accountancy and finance talent.  In China we have 29,000 members and 103,800 future members. We're optimistic about its long-term potential, innovative approach and economic resilience and feel we have a strong contribution to make. There is a particular opportunity in China’s service sector, especially in high quality financial and professional services. Looking at the global economy more widely, despite the recent turbulence our recent report, The outlook for global trade, reveals positivity about the future, with 56% of accountants and business leaders expecting their organisations to increase the amount of global trade in the next three to five years – although 85% remain concerned about tariffs.

Beyond commonly addressed topics like geopolitics, AI, sustainability/ Climate Change, what is a key issue that you believe will significantly affect your operations in China or MNCs in general over the next 5-10 years?

The biggest issue for us is the changing role of accountants. As the global economy and ways of doing business evolve, the role of accountants is being redefined. This is increasingly evident here in China and is especially relevant to MNCs. While financial success remains key, environmental and social sustainability are increasingly critical to this. Effectively managing AI and other innovations in tech is also a vital skill for accountants, as is managing uncertainty.  In this changing environment, accountants are driving rounded decision-making, innovative thinking, ethical approaches, and more meaningful ways of corporate reporting. For MNCs in China, this means the battle for talent will intensify. Those that thrive will be those that successfully cultivate and empower finance teams to act as strategic navigators, ethical compasses, and catalysts for sustainable business models. We’re focusing on these changes through redesigning our qualifications for future generations, and providing cutting-edge learning opportunities for our members and the wider business community.

ACCA itself has stated the transformational role AI will play in the financial sector at all levels. As AI begins to automate core accounting tasks like auditing and compliance, what is an irreplaceable value that a human financial professional will provide to businesses operating in complex cross-border environments like UK-China trade?

Artificial intelligence and other fast-developing technologies are bringing opportunities for innovative new ways of doing business, better customer experiences, improved efficiency and deeper insights on which to base decisions. All of this is impacting UK-China business operations and trade and will only increase in the future - this area will increasingly become a competitive differentiator. Human judgment is critical for AI to be successfully leveraged in a number of ways -  from strategic and ethical interpretation to building trust and bridging cultures to defining an organisation’s purpose and building a consensus-driven strategy for sustainable growth. This is especially critical in a complex international environment. Human judgment is also necessary to manage ethical and reputational risks that arise from AI use, as well as the threat of cybercrime. Employers are increasingly looking to accountants to help them understand and leverage the opportunities presented by AI and other technologies, as well as navigate the risks.

The UK and China have both committed to Net Zero targets, how can organisations like ACCA help support the UK and China in meeting their targets?  What work is being done on standards to contribute to these efforts and build trust in green financing?  

ACCA is uniquely positioned to support the journey to net zero by empowering our community in both the UK and China to lead the way in driving forward sustainable business and green financing. Through supporting the development of global sustainability reporting standards, providing skills development, publishing cutting-edge research and fostering cross-border collaboration, we’re helping them to drive change in their organisations.  This will help them develop and embed sustainable business approaches and ensure these are in line with relevant sustainability standards and regulations. We’re also supporting those who act as assurers and advisers. One example is our Professional Diploma in Sustainability, designed to equip finance professionals - in both the UK and China - with the practical knowledge required to measure, manage, and report on sustainability performance and risks. We also work in the UK and China through partnerships and events to support leaders from business and the regulatory and education sectors understand the evolving landscape and exchange insights.