Facing experienced and mature foreign accounting organizations, local accounting firms move to reorganize internal structure and to improve their personnel quality to compete. Three major Chinese firms, Shanghai Shulun Pan Certified Public Accountants Limited, Zhongtianhuazheng Group and Guangzhou Yangzheng Certified Public Accountants Co. Limited, are to merge by this week to form Shanghai Shulun Pan Certified Public Accountants Group (PCPA). The new venture gears up to compete with the big 4 foreign accounting firms and is expected to have 2000 employees and 500 million yuan (62.5 million US dollars) total annual operating income.