Raymund Chao, chairman of PricewaterhouseCoopers Greater China, said that PwC is helping companies and supporting the Chinese government's strategies, like the Belt and Road Initiative, under the new normal. [Photo/China Daily]

On July 13, 2015, PwC elevated Chao to chairman of PwC Greater China.

Dennis Nally, chairman of PricewaterhouseCoopers International, had said then: "Raymund is a proven leader with the knowledge and breadth of experience needed to successfully grow PwC in China. With his clear vision and passion, I am confident Raymund will continue to successfully develop PwC's operations in China while playing a leading role in the global network."

Chao regards himself as a people's leader. "As a good leader, you want to take your people through good times and bad times and continue to inspire and lead them into the future. So what I've done, and will continue to do, is share with them my vision, and inspire and excite them about the journey we're going through to move PwC forward in the new world and into the future."

Chao organized regular interactions with PwC staff at all levels to exchange thoughts, views, and concerns, and information about the company's performance.

With the runaway double-digit Chinese economic growth slowing to robust single digits, Chao said it's a part of a "new normal".

"I don't see the new normal as a real challenge to PwC, and the key is how you adapt to the new normal and see opportunities in the new normal," said Chao.

According to him, PwC is helping companies and supporting the Chinese government's strategies, like the Belt and Road Initiative, under the new normal.