China (National)

R&P China Lawyers is a foreign-oriented Chinese law firm established in 2010. The firm is led by managing principal Maarten Roos and has offices in Shanghai and Beijing. 

Focusses / specialisms  

The firm has a focus on the M&A practice, it advises corporate and private equity clients on a broad spectrum of corporate matters as well as on cross-border and domestic M&A transactions. 

Client feedback: 32nd edition (2022/2023) 

M&A 

“They provide me with answers in a way that I can understand without needing to have a law degree. They give me straight answers and good advice when I ask.” 

Financial restructuring 

“R&P is a very well-resourced firm that can answer most corporate law issues without delay and with a very reasonable quote.” 

JunHe is a top-tier firm in transactional law in China. Headquartered in Beijing, JunHe also has offices in cities such as Shanghai, Guangzhou, Shenzhen, Hangzhou, Chengdu and Qingdao. It is highly regarded for its banking and finance, capital markets, M&A and investment funds work. 

Highlights  

During the research cycle, the firm’s capital markets team assisted Industrial Bank (Hong Kong) in issuing US$650 million of green bonds, which needed to be aligned with China-EU Common Ground Taxonomy. The bonds will support renewable energy, low carbon and low emission transportation-related projects. In addition, the team assisted China National Nuclear Corporation in its successful issuance of carbon-neutral green bonds on the Shanghai Stock Exchange. 

The JunHe team also achieved great success in IPO work last year. One highlighted case is where the team advised Atour Hotel’s IPO on the Nasdaq with the issuance of new regulations by China’s legislative and administrative authorities including data security laws, cybersecurity laws and personal information protection laws. Another notable deal is the team advising Tianqi Lithium in its US$16.84 million IPO, which was the largest IPO in the global lithium sector. 

The firm also completed a few restructuring transactions. For example, the team represented A-share listed company Hengkang Medical in its restructuring and two Quanzhou-based property developers in finishing their restructuring. 

Last year, the firm hired Zhijun Lin, Libin Shi and Xiaofei Chen to strengthen the firm’s capital markets team. Also, five new partners joined the firm’s restructuring and insolvency team: Zhengdong Liu, Yifan Xian, Tao Bai, Bingbing Gai and Chenghao Li. 

Key clients 

58.com, Industrial Bank, Standard Chartered Bank, Blackstone, Bank of China, DCIG, Bank of Communications, HSBC China, CMBSm and JPMorgan. 

Testimonials  

M&A 

"Professionalism sets them apart, particularly the highly complex M&A structure proposed by JunHe." 

"The work quality is high, and deliverables are always timely." 

Private equity 

"The JunHe team maintains remarkable stability in their personnel, which is uncommon in the current market. When servicing projects, they consider the full spectrum and identify potential long-term issues at an early stage." 

"They provide professional legal opinions in the private equity fund field, helping us improve the quality of agreement reviews. Their legal due diligence is professional and valuable. For litigation cases, they offer professional solutions that increase the probability of winning." 

PPP/PFI 

"They deliver quick results. The firm has a wide range of legal services and can quickly match us with a suitable lawyer." 

Insolvency 

"The JunHe team demonstrates satisfactory professional competence and efficiency." 

Investment funds 

"They deliver professional legal services with high efficiency, offering clients highly valuable advice and support." 

"Their expertise in funds is outstanding. With dozens of fund investors, decision-making on exits and distribution mechanisms is critical. JunHe assisted us in detailed contract analysis and provided practical solutions, which was impressive." 

Project development 

"They work efficiently, provide timely and accurate advice, and help customers resolve issues effectively." 

Nelson Zhou 

"He is a deal maker." 

Rui Ma 

"He is very hard-working and provides strong support for our business. He is also highly responsible and solution-oriented." 

Xianfeng Zhou 

"Rapid response speed and high-quality service." 

"Accurately addresses client needs and handles complex matters at a high level." 

Chenghao Li 

"Drafts reorganisation plans with exceptional efficiency and professional skill." 

Frank Zhou 

"Responds promptly, understands business needs, and delivers quality work." 

Jiakun Cui 

"Provides professional legal services in the private equity fund sector." 

"Communication is always timely. He is accessible when needed and provides effective feedback. For issues requiring multi-faceted consideration (such as litigation aspects), he promptly coordinates with other partners at the firm to provide comprehensive advice." 

"Lawyer Cui has extensive experience in private equity legal services and can mobilize the firm’s resources to provide comprehensive professional services and solutions." 

Jianwei Yang 

"He is always available, very helpful, and responsible." 

Paipai Wang 

"Quick response speed and high-quality service." 

Ropes & Gray is the Chinese presence of the international law firm of the same name. The firm caters to its clients with Greater China interests from its offices in Shanghai and Hong Kong. 

Established in 1865, Boston-based Ropes & Gray is an international law firm with more than 1,400 lawyers and 11 offices across the US, Asia and Europe. 

Focusses / specialisms  

The firm is strongest in its private equity practice and also recognised for its work in banking, capital markets, and M&A in mainland China. Its Shanghai office provides legal services to both domestic and global clients. 

Key clients  

Key clients of the firm include Ares SSG Capital Management, Baillie Gifford, Bain Capital, Baring Private Equity Asia, China Resources Capital Management, ICBC International, Alibaba, API Hong Kong Investment and Didi Global.  

Paul Weiss Rifkind Wharton & Garrison is the Chinese presence of the international law firm of the same name. The firm services its Greater China clients from its offices in Beijing and Hong Kong.  

Originally founded in 1875, Paul Weiss Rifkind Wharton & Garrison is a New York-based international firm with more than 1,000 lawyers across eight offices. It is also one of first foreign law firms to establish an office in mainland China, opening in Beijing in 1981. 

Focusses / specialisms  

The firm is strongest in the foreign private equity market, achieving top-tier status in China for this area. It is also well recognised for its work in foreign M&A practice. 

Key clients  

Key clients of the firm include DCP Capital, Didi Chuxing, PAG, State Grid International Development and Wanda Sports & Media. 

Morrison & Foerster is the Chinese presence of the international firm of the same name. In Greater China, the firm established its Hong Kong office in 1983 followed by Beijing in 1998 and Shanghai in 2003. The firm is also one of the first US law firms to establish an office in the above-mentioned Chinese major business centres. 

Formed in 1883, Morrison & Foerster is a San Francisco-based international law firm with 1,000 lawyers and 17 offices across the US, Asia and Europe. 

Focusses / specialisms  

The firm has a focus on foreign M&A and private equity but is also very active in foreign capital markets and project development. 

Key clients  

Key clients of the firm include Alibaba Group, GLP, SoftBank, Silver Crest, Haitong International Capital, CLSA Capital Markets, BOC International Holdings and China Securities (International) Finance Holding. 

Established in 1890, Gibson Dunn & Crutcher is a Los Angeles-based international law firm with more than 1,300 lawyers across 20 global offices. The firm’s Hong Kong office opened in 2010 and works closely with its other Asian offices in Beijing, which opened in 2013, and Singapore, which opened in 2008. 

Focusses / specialisms  

The firm is best known for its private equity, investment funds, M&A, projects and leveraged finance work in China. It offers US, Hong Kong and English law advice to its global and Asia-based clients. 

Key clients  

Key clients of the firm include Ruhnn Holding, Robert Bosch, AGIC Capital, Shanghai Pudong Science and Technology Investment, CPE Advisors, Tarena International and NetEase.   

Established in Chicago in 1853, Winston & Strawn is one of the largest and oldest firms in the city. It has nine offices in the US and six offices in Europe and Asia. With offices in Shanghai and Hong Kong, the firm assists its global and Asia-based clients navigate inbound and outbound opportunities in Greater China.  

In June 2020, Winston & Strawn formed a strategic alliance in China with Yuanda China Law Offices. Known as Yuanda Winston, the team combines first-hand knowledge of China’s legal, political and regulatory environment and offers a strong bench of nearly 50 attorneys, 

Focusses / specialisms  

The firm’s transactional practice is most active in M&A and equity capital markets work, particularly in structuring special purpose acquisition companies, where it has a niche enabling its clients to go public as an alternative to the traditional IPO process. 

Key clients  

Key clients of the firm include RF Acquisition, UOB Kay Hian, Karrie International Holdings, Hua Shi Zhong Guang International Media, China Shenghai Group, Vistas Media Acquisition and Saitech.  

Headquartered in Beijing, DeHeng Law Offices is a full-service PRC law firm that has 50 offices in and outside China. 

Highlights  

The firm is regarded for its work in M&A, capital markets and banking.  

Last year, the firm was actively performing in debt capital markets. It advised China Resources Beer (Holdings) Company on the successful registration of RMB 4 billion (US$565 million) commercial papers and RMB 8 billion medium-term notes in NAFMII (Panda bonds), advised Zhuhai Huafa on RMB 500 million offshore bonds issue and Huatai Security issued US $800 million bonds.  

Key clients  

China CITIC Bank International, Export-Import Bank of China, BOCOM International Universal Investment, HSBC, China Gold, and Qingdao Sifang Rolling Stock Research Institute. 

Dacheng Law Offices has 51 offices across China, including in Beijing, Shanghai, Chongqing, Guangzhou, Hangzhou and Shenzhen.  

Highlights  

The firm is strongest in private equity and investment funds and has a highly active restructuring and capital markets structured finance and securitisation practice. Its capital markets practice has had a mixture of Hong Kong IPO and bond work, including corporate and convertible issuances. The firm is also recognised for its M&A, project development and banking work.  

Dacheng Law Offices facilitated a fixed asset syndicated loan and standby loan project valued at around RMB 44.8 billion (US$6.4 billion) for Sabic Fujian Petrochemicals Co., a joint venture between the international giant Saudi Basic Industries Corporation and the Chinese party, Fujian Energy and Petrochemical Group. In this deal, Dacheng Law Offices represented more than 10 banks.  

The firm advised clients in both domestic and overseas IPOs in recent years. It acted as the PRC counsel of Guangzhou Zhongxu Future Technology Co. in completing its Hong Kong IPO; assisted Ningbo Heli Technology Co. in its private placement, and represented Chongqing Spring Technology in its listing on the New Third Board as the first listed enterprise in Chongqing applying the “Chongqing Stock Connect” green channel mechanism.  

Key clients  

PayPal, China Construction Bank, Industrial and Commercial Bank of China, Bank of China, HSBC, BNP Paribas, Ningbo Communications Investment, Zhejiang Linyang Real Estate Development, and Zhongdu Holding Collection Association.  

Testimonials   

Capital markets  

"Dacheng Law Firm assigned Lawyer Hanlin Wang to lead and coordinate the work. He demonstrated significant strengths and benefits in terms of professional capability, work attitude, responsiveness, and delivery of results, receiving consistent praise from our company and other intermediaries."   

M&A  

“Their real estate team is top-notch in structuring deals and navigating planning and zoning. The firm has serious clout with local authorities. The legal team led by lawyer Chang is highly experienced in the field of energy and construction.”  

“For financing large-scale energy infrastructure, Dacheng's project finance and construction expertise is vital. They drafted bulletproof EPC and O&M agreements protecting our investment. Their ability to coordinate specialist teams (tax, environment) is impressive.” 

“Dacheng's counsel on our acquisition of a real estate project of a racing court was first-rate. Their due diligence on the target's situation was exceptionally thorough. The firm's ability to mobilize specialized resources for technical site assessments and PPA reviews significantly strengthened our position.”  

Investment funds 

"Lawyer Huazhen Huang and her team possess extensive project experience and unique insights in investment, financing, funds, insurance, and infrastructure. They deliver high-quality legal services for cross-disciplinary projects, with a sharp ability to identify and effectively resolve compliance issues and risks. Their strong professional skills enable them to propose creative project solutions, making them a rare and high-quality legal team." 

Qing Chang  

“Lawyer Chang from Dacheng law office is a very sophisticated lawyer whose expertise is contributing to a complex energy project. She managed the M&A contract negotiations and grid connection agreements flawlessly. She understands the investor perspective and finds practical solutions to keep projects bankable. 

“Qing Chang acted as lead counsel with exemplary precision and strategic foresight. Her ability to identify critical regulatory limitations early, particularly concerning grid connection rights and relevant matters within the target portfolio, constructing the transaction within the frame of the laws and regulations. Her negotiation tactics secured highly favourable terms during the final SPA adjustments. We particularly valued her calm authority under tight deadlines. 

“As lead partner, lawyer Qing Chang masterfully navigated the complexities of acquiring an early-stage development platform. Her foresight in structuring contingent consideration linked to permitting milestones in the execution of the agreement aligned perfectly with our risk control policy. She skilfully managed negotiations between us and the opposing party by reasonably illustrating the cons and pros of the project.”  

Hanlin Wang 

"Lawyer Hanlin Wang has particular expertise in providing legal services for companies in capital markets, equity investment and financing, and other non-litigation matters." 

Huazhen Huang 

"Lawyer Huazhen Huang delivers exceptionally high-quality legal services. Firstly, she possesses superb professional skills and extensive project experience, enabling her to quickly grasp project specifics and accurately identify legal risks. Secondly, she has outstanding research and innovation capabilities, excels at balancing the needs of various parties, and creatively designs tailored transaction structures to achieve win-win outcomes. Finally, she is frequently invite d as a speaker or guest to forums and exchanges in specialized fields such as investment, financing, funds, insurance, and infrastructure, where her expertise is widely recognized by the industry."  

Xuanyuan Huang 

"Lawyer Xuanyuan Huang has provided excellent legal services to our company. He is very familiar with our business and investment sectors, possesses solid legal expertise, and demonstrates excellent professional ability. He is meticulous, responsible, provides timely and clear feedback, and can accurately and efficiently resolve our legal issues. He is an outstanding lawyer." 

East & Concord Partners is a full-service law firm in China covering over 20 practice areas. The firm is headquartered in Beijing, with offices in Shanghai, Shenzhen, Wuhan and Hangzhou. 

Highlights  

East & Concord specialises in banking and finance, and capital markets. In the research period, the firm showed a deep understanding of fast-growing industries such as healthcare, sports and data protection. The firm has been involved in several M&A projects in the pharmaceutical and health industry. 

In 2022, the firm advised China CITIC Bank on launching equity refinancing projects by placing shares to original shareholders in China and Hong Kong. 

In one highlighted case, the firm established Huaxia Wealth, which is the first commercial bank wealth management subsidiary registered in Beijing by a national joint-stock commercial bank. 

In another notable case, the firm assisted SPD Silicon Valley Bank to acquire an asset from a confidential company. The target has businesses in various industries such as hardware, software, internet, mobile, consumer technology, life sciences, biotechnology and clean-tech, and private hospitals. Advising on financing structures for various acquisitions in these sectors illustrates the team’s comprehensive legal knowledge. 

Key clients 

China CITIC Bank, CITIC Group, Huaxia Bank, Guomin Pension & Insurance, Beijing Capital Eco-Environment Protection Group, Fullgoal Fund Management, China International Capital, CICC Fund Management, and China Orient Asset Management. 

Fangda Partners has steadily risen from its Shanghai roots to become a national powerhouse in China, and it has also earned a first-class reputation in the Beijing and Guangdong market.  

Highlights  

The firm has hundreds of lawyers with expertise in a number of transactional practice areas, with prominent strength in M&A, banking and finance, capital markets and investment funds work.  

Fangda Partners represented Shanghai Pudong Development Bank's Shanghai branch and SPD Silicon Valley Bank in signing a RMB 968 million (US$133 million) loan facility agreement with an offshore SPV of VIVO Capital-Arrace Holding Co. and advised Huayou (Hong Kong) Co.’s multi-currency sustainable development indicator-linked syndicated loan.  

The firm has extensive experience in RMB-denominated private equity funds advising private investment firms and institutional investors. Notable publishable deals include advising CITIC Capital in forming CITIC Capital RMB Fund IV managing US$17 billion; advising Shang Qi Capital in forming Shang Qi Capital’s flagship RMB fund, of which major limited partners include governmental FOF and Shanghai Automotive Industry Corporation; and representing Cainiao in its logistics and warehousing fund II co-sponsored with China Life.  

Fangda Partners’ M&A team advised container leasing company Triton International Limited in its US$13.3 billion acquisition by Brookfield Corporation; assisted the Saudi Arabian Oil Company Saudi Aramco on its strategic investment in two significant Chinese petrochemical companies; and represented China Baowu Steel Group Corporation and Baoshan Iron & Steel Co. in their strategic investment in Shandong Iron & Steel Group Co. and Shandong Iron & Steel Group Rizhao Co. 

Key clients  

Bank of China, Export-Import Bank of China, China Development Bank, China Construction Bank, ICBC, Ping An Bank, Asian Development Bank, Asian Infrastructure Investment Bank, China Resources Microelectronics, Blackstone, Boyu Capital, Carlyle, and CICC Capital.  

Testimonials  

Investment funds 

“A-grade team. Expert in investment funds, very responsive and able to provide practical solutions.” 

“Precision on legal advice, responsive, solutions that fit business needs.” 

“Fangda Partners stands out because they combine elite legal expertise with an unwavering commitment to client service and a relentlessly practical mindset. Their deep, specialized knowledge is matched by their dedication and work ethic. Crucially, they don't just advise; they partner with us to find commercially viable solutions, cutting through complexity to deliver results efficiently. The professionalism of the entire team and their proactive, strategic approach make them an indispensable partner for demanding work.” 

Financial services regulatory 

“Deep understanding of the market and industry practices beyond the black letter law.” 

M&A  

“It is highly professional with state-of-the-art expertise and solid insights into business.” 

Flora Qian  

“Good communications, very responsive, expert in the field, well connected in the community.” 

Candy Tang  

“Comprehensive and in-depth understanding of law and practice in fund-related areas, especially good understanding on USD fund manager's needs and provides solutions that are suitable for them in China.” 

Zhiyi Ren  

“Deep industry knowledge.” 

Sherry Xu  

“Professional, solid expertise, responsive.” 

Rock Wang  

“Deep and solid expertise.” 

Miles Ma  

“Solid expertise and pragmatic approach.” 

Zhen Chen  

“Very dedicated and professional.” 

Bank lending  

“Expertise of the lawyers we have been working with make them stand out, and also quite responsive.”   

Bao Chen  

“Knowledgeable in M&A areas.” 

Joe Scheu  

“Works on corporate and M&A matters; quite responsible.” 

JunZeJun Law Offices was founded in 1995 with its headquarters in Beijing. It is one of the earliest partnership law firms in China, as well as one of the largest, well-recognised law firms in China. The firm has so far established 14 branch offices in Shanghai, Shenzhen, Guangzhou, Tianjin, Nanjing, Chengdu, Changsha, Changchun, Zhuhai, Haikou, Kunming, Shijiazhuang, Zhengzhou and Hong Kong (which is in association with Nixon Peabody CWL). 

Focusses / specialisms  

The firm is recognised for its work in banking and finance and capital markets. It is traditionally known for its strong aviation finance practice, but it also has a strong debt capital markets practice and is active in the equity and securitisation space.  

Key clients  

Key clients of the firm include Bank of China, Zhongyuan Bank, The Lvgang International Center Branch of Bank of Beijing, New China Trust, TTCO Trust, Huaxia Financial Management, ICBC Financial Assets Investment, and China Minsheng Trust. 

Testimonials 

Insolvency  

"Jingtian & Gongcheng's professional capability in PRC insolvency law and restructuring procedures is particularly outstanding. They are well-versed in judicial reorganisation paths under the Enterprise Bankruptcy Law and have a deep understanding of the interests and commercial dynamics among various creditors, enabling them to provide actionable integrated legal and commercial solutions. Particularly commendable is their ability to coordinate with offshore counsel in handling cross-border insolvency matters, ensuring consistency and progress in domestic and overseas proceedings. Team members are highly responsive and communicate efficiently; the seamless collaboration from partners to associates significantly enhances project efficiency." 

 
"What sets Jingtian & Gongcheng apart is their deep expertise in PRC insolvency law and restructuring procedures. The team demonstrates a strong command of judicial reorganisation under the Enterprise Bankruptcy Law and has an excellent grasp of creditor dynamics and commercial sensitivities. Their advice is not only legally sound but also highly pragmatic and commercially actionable. Their ability to coordinate with offshore counsel and navigate cross-border insolvency protocols is particularly impressive. The responsiveness and cohesion of the team, including both senior partners and associates, greatly enhanced the efficiency of the restructuring process." 

Bangwei Xu  

"Lawyer Bangwei Xu demonstrates exceptional capability in handling complex insolvency and restructuring matters. He possesses not only solid expertise in PRC bankruptcy law but also a pragmatic, solution-oriented approach to advancing projects. He is highly responsive, exercises sound business judgement, and is particularly adept at handling shareholder coordination, judicial dissolution processes, and overall management of cross-departmental projects. In time-sensitive, multi-party scenarios, his ability to proactively identify legal risks and propose viable solutions is especially valuable."  

“Mr. Bangwei Xu demonstrates outstanding capabilities in managing complex insolvency and restructuring matters. He combines solid technical expertise in PRC bankruptcy law with a pragmatic, solutions-oriented approach. He is highly responsive, commercially astute, and excels at navigating shareholder coordination, judicial dissolution procedures, and cross-functional project management. His ability to anticipate legal risks and proactively design workable solutions is especially valuable in time-sensitive and multi-stakeholder scenarios.” 

Capital markets  

“Always responsive, and very professional.” 

“They have demonstrated professionalism and insight.” 

Financial services regulatory 

"Jingtian & Gongcheng in China provided us with professional legal services, demonstrating a high level of legal expertise in both resolving legal issues and litigation representation. In legal counselling, they quickly and accurately understood our problems and provided comprehensive, targeted advice. In litigation, leveraging rich experience and solid legal skills, their team helped formulate reasonable litigation strategies for complex disputes and strived for favorable outcomes."  

"Mr. Sun Shiqi and his team represented the company in this series of lawsuits. The cases covered various legal fields, including contract law, tort liability law, and trust law, demonstrating the team's breadth of integrated cross-disciplinary legal knowledge. Through detailed familiarity with the case and a comprehensive grasp of the disputes involved, Mr. Sun developed effective response strategies as the case advanced, constructing a multi-dimensional defense framework by comprehensively applying different legal provisions and theories, fully reflecting the breadth and comprehensiveness of their case handling. Through detailed deconstruction of trust plan products, in-depth analysis of legal relationships, and rigorous examination of infringement elements, Mr. Sun demonstrated a deep understanding of the financial industry and complex financial litigation. Mr. Sun and his team devised a novel defense strategy, not limited to traditional frameworks but also proposing innovative legal viewpoints and analytical methods regarding the establishment of tort legal relationships and fault proof based on financial product characteristics, holding significant demonstrative and innovative value for resolving similar financial product disputes." 

Investment funds  

"The law firm's service teams, comprising a fund-side team and a project acquisition-side team, demonstrated exceptional collaboration and independence. Their seamless coordination enabled efficient end-to-end legal support for our pilot fund, covering all stages from establishment to asset acquisition. With profound full-process expertise, both teams consistently ensured regulatory compliance and operational excellence, underscoring their capability to handle complex cross-functional mandates in China's evolving private equity landscape." 

Jin Ying  

“Jin Ying communicates excellently, swiftly understanding our needs and taking full responsibility to fulfill them. In negotiations and regulatory work, the partner prioritizes our interests, ensuring effective solutions and proving indispensable.” 

Shiqi Sun  

"Mr. Sun has extensive practical legal experience and is particularly adept at handling complex cases, quickly grasping the core issues and developing effective solutions. He possesses solid legal expertise and a precise understanding and application of laws and regulations, enabling him to provide us with high-quality legal advice." 

Congcong Zhang  

"Ms. Zhang participated in developing a novel defense strategy, not limited to traditional frameworks but also proposing innovative legal viewpoints and analytical methods regarding the establishment of tort legal relationships and fault proof based on financial product characteristics, which has significant demonstrative significance and innovative value for resolving similar financial product disputes."

"Ms. Zhang has many years of legal experience, specializing in securities compliance, dispute resolution, corporate disputes, bankruptcy, and liquidation." 

Mingzi Tian  

“She is very responsive and very innovative, good at solving problems.” 

Xiang Gao  

“Mr. Gao is quite innovative and has good business sense. Very professional in his work.” 

Feng Wang  

“Professional and diligent.” 

Man Feng  

“Very patient and always thinks for the client.” 

Founded in 1984, Global Law Office is a reputable full-service law firm in China. It has four offices in Beijing, Shanghai, Shenzhen and Chengdu.  

Highlights  

The firm is traditionally committed to banking and finance, insurance, capital markets, securities and investment matters. It is experienced in sectors such as energy, mining, chemicals, steel, manufacturing, transport, infrastructure and public facilities.  

Global Law Office is an expert in the banking and finance sectors. Notable deals include representing the Export-Import Bank of China for a US$24 million oversea investment to an offshore subsidiary of China Gezhouba Group's project in Uzbekistan; advising the International Finance Corporation’s second-tranche lending to New China Water (Nanjing) Renewable Resources Investment; advising Standard Chartered Bank (Hong Kong) and DBS Bank as mandated lead arrangers in a secured loan facility to an international ship leasing company.  

Last year, the firm hired partners Yong Jia, Ping Yao and Chen Gu to strengthen its capability in banking and finance.  

Key clients  

Export-Import Bank of China, China Development Bank, China Construction Bank, Bank of China, China CITIC Bank International, Agricultural Bank of China, China Resources Microelectronics, New Frontier Group, Vivo Capital, Fosun Pharma, Warburg Pincus, and Goldman Sachs.  

Testimonials  

Private equity  

“Understand the parties to the transaction, are familiar with the legal and regulatory requirements, and provide legal solutions for the client with the purpose of facilitating the transaction.” 

Amy Dai  

“Close to the business, as a partner, still providing legal services on the front line. Timely feedback.” 

Stephen Yu 

“Excellent legal support in equity investment.” 

Founded in 1992, Commerce & Finance Law Offices is active in key areas of transactional law, especially in the overseas capital markets. Headquartered in Beijing, the firm also has branch offices in Shanghai and Shenzhen.  

Highlights  

Commerce & Finance’s core practice areas cover securities, investment, banking and finance, and M&A. It has a traditionally strong IPO practice and is recognised as a market leader in this area. The firm has participated in many landmark listings and reorganisations of state-owned and private enterprises.  

The firm provided legal services on various significant bond issuances, including advising the People's Government of Guizhou Province on a special bond issuance by the Agricultural Bank of China Guizhou Branch, assisting Taiwan Cement Corporation in issuing its first international green equity-linked securities, and advising China Xiongan Group on a public offering of green corporate bonds.  

Throughout the research cycle, the firm garnered positive peer feedback for their expertise in the overseas IPO market and proficiency in domestic capital markets, highlighted by their completion of notable deals such as the groundbreaking HKD 120 billion (US$15.36 billion) listing of J&T Express in Hong Kong, marking the first IPO project in the logistics sector in Hong Kong with a Weighted Voting Rights structure in 2023.  

Key clients 

NIO, China Energy Engineering, Ningbo Zhoushan Port, Guizhou Branch of Agricultural Bank of China, Yunnan Branch of Agricultural Bank of China, Export-Import Bank of China, ICBC, Chengdu Branch of Agricultural Bank of China, Bocom Financial Asset Investment, and International Alliance Financial Leasing.