| Having received approval from the PRC’s Ministry of Justice and the Law Society of Hong Kong, PRC firm Zhong Lun has ventured into Hong Kong, forming an association with local firm Roger Ho & Co. The Hong Kong office, which currently has four lawyers on board, will focus on capital markets work. The firm aims to grow the Hong Kong office to around ten lawyers.
Headquartered in Beijing, Zhong Lun is today one of the largest full service law firms in China, with over 100 partners spread across its seven offices in Mainland China, Tokyo and now Hong Kong. Managing partner Zhang Xuebing remarked, “The first and the most important step for each PRC law firm to implement its global strategy is to establish an office in Hong Kong…. Zhong Lun hopes that its presence in Hong Kong will facilitate investments by… Mainland enterprises in Hong Kong and contribute to the prosperity of Hong Kong.“ As is usual practice, Roger Ho & Co will be integrated into the larger firm after three years of association. Whilst Zhang says the firm has good relationships with international firms, there are currently no plans to strengthen these relationships by making formal or informal arrangements. Zhang has confirmed New York as the most likely destination should the firm open another office, noting, “…Americans are the biggest investors in the PRC. A lot of PRC companies are also keen to list on the New York Stock Exchange and acquire foreign assets.” As President of the Beijing Law Society, Zhang says he is very open-minded to Hong Kong firms establishing offices in Mainland China, as per the the Closer Economic Partnership Arrangement (CEPA) arrangement. |
