Garbutt and Elliot LLP: Chinese Inward Investment Internship - Jingwen Feng and Xu Wang
Chartered accountants and business advisors Garbutt and Elliott provide audit, accounting, tax and business advice to individuals, family and owner-managed businesses from their offices in Leeds and York.
Garbutt and Elliott is a member of Praxity, one of the largest associations of independent accounting and advisory firms in the world, with 69 participating firms and more than 30,200 staff. Shine Wing, one of Praxity’s members in China, has been looking at expanding its relationships with other international firms and hosted a ‘mini summit’ in Beijing in August 2013 where G&E were invited to represent the UK. This was an excellent opportunity for G&E to forge and develop a relationship with a Chinese firm with a view to providing advice and assistance on inward investment into the UK.
In order to prepare for the visit to China, G&E looked to the University of York to help them advance into this market and to gain access to the specialised cultural knowledge which its Chinese students could provide.
Two international students – Jingwen Feng (MSc in Finance) and Xu Wang (MA in Comparative and International Social Policy) – were recruited to develop a China Desk for G&E and to create content for an inward investment web page in Mandarin. The project also required them to devise and arrange the recording of video content for inclusion on the web page and to produce a report summarising research on the top 50 Chinese family businesses in the UK.
Garbutt & Elliott believe that Chinese inward investment will become an increasingly important factor in the UK’s continued economic growth and the work that Jingwen and Xu undertook was crucial in enabling G&E to break through into the Chinese market.
Speaking about the internship experience G&E Senior Partner David Dickson said, ‘For an internship to work it has to be of benefit to all parties. Jingwen’s and Xu’s outstanding commitment has enabled us to begin development of a reputation as a trusted advisor to Chinese firms investing in the UK. They both blossomed in their roles and, clearly, gained a great deal of value from the project whilst enjoying working with other colleagues at Garbutt & Elliott. It is also important for world-class universities such as the University of York to demonstrate the great opportunities available to students by taking on internships in companies with vision.’