China’s ‘red circle’ law firms separate partners from US opponents

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China is hiring higher lawyers than international competitors for participating in Hong Kong and China after slowdown in the best law firms, Western law firms, financial activities.

LATHAM & Watkins, Sidley Austin and Weil, more than a few US as Gotşal and Manges Closed offices In recent months, Beijing or Shanghai, China set up M & A and capital markets. The US law firm Winston & Craugn is the latest after leaving the firm in Asia, to close the Shanghai office after closing the Hong Kong branch last year.

This has introduced an opportunity for Chinese law firms that are the biggest and best “Red circle”. In the Hong Kong, including in Hong Kong, including increasingly jobs, and sometimes more than half of Western rivals, including large names and aggressive fees.

The growing ambition of the Chinese law firms The variable nature of the Hong Kong market reflects the nature of Chinese companies, abroad and Western law firms once in the area of ​​China, which once earns large payments from the retrench list.

Last year, Chinese law firms are at least 14 high lawyers and partners of the US and UK colleagues, including Kirkland & Ellis and Paul Hastings, employers and lawyers, some bring their teams together. Most are based on Hong Kong and focus on capital markets or financing.

“In particular, US companies, especially US companies, including US companies, including Hong Kong, including Hong Kong,” said Junhe’s legal partner in law enforcement agencies.

Special capital and M & A Partner Gary Li in Hong Kong, Kirkland’dan Top 10 Mainlandan Firm in February, moved to Zhong Lun from Kirkland. Capital markets Wanda WoO, in Hong Kong, A & O Shearman was transferred to Jia Yuan law demonstrations in October.

“We think this is a more vibrant side of the market.” A and he brought nine lawyer groups from Sharman.

Last year, from 70 new lists of Hong Kong, China Mainland law firms traditionally traditionally traditionally traditionally traditionally traditionally traditionally traditionally offered more than 30 percent of international property more or more.

The area is set to enjoy $ 20 billion listing This year, as a whirling of Chinese companies launched secondary lists in the city. “Hong Kong capital market is full of Chinese issuers,” said Woo. “They feel them …. (China) law firms are equally skillful to complete a contract.”

Many international law firm partners struggled to draw a business, taking into account the elasticity to adjust the “to adjust the filled rates.”

The best law firms in the United States are a world-old “murder” hour, said that a lawyer who had recently moved from the US company to China. “My hourly rate (in the former US company) was $ 1,600 (in the former company). This kind of hourly rate was not acceptable only for Chinese customers,” he said. “Now I am with the law firm, my hourly degree is $ 500. This gives us a great advantage.”

International firms are a large partner in a large partner of a US company in Hong Kong, many of the United States’s largest US law firms in Asia, geopolitical issues, because of their geopolitical partners, do not compare to generation of generations and engaged in historical baggage. “

Many Chinese law firms still added that the IPO work of the “Proper infrastructure” IPO’s works in the IPO work in Hong Kong – in Hong Kong that is often required by iPo.

“Previously, the partners of the International Law Firm, China law firms will say,” he said. “But now they are forced to think of Chinese companies, because they do not command them to do their work (at the same level).”