PwC invests in 'high quality' business in China after Evergrande penalty

PwC invests in 'high quality' business in China after Evergrande penalty

FILE PHOTO: A building housing the PricewaterhouseCoopers (PWC) branch office stands behind a Chinese national flag in Beijing January 24, 2014. REUTERS/Kim Kyung-Hoon/File Photo

PwC is making “tangible investments” to ensure the Big Four firm has high quality and sustainable business in China, it said in a memo to staff after Chinese regulators on Friday hit the company’s mainland unit with a record penalty.