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China¡¯s legal market has weathered a turbulent sea of ups and downs in the past year. Despite a challenging macroeconomic environment, law firms have strived to break free from the bear market, seeking new business opportunities with resilience and innovation.

Recent trends indicate a subtle shift in the competitive landscape of China¡¯s legal services sector. An increasing number of homegrown law firms have participated in regional awards this year. These firms are carving out niches in emerging sectors, leveraging their deep understanding of local markets to capture share from national brands.

Meanwhile, high-profile lawyers from larger firms are launching their own practices, offering more flexible services and solidifying their presence in regional markets. This dynamic shift is infusing the legal services industry with new energy.

Beyond the traditional first-tier cities, the legal services market in emerging cities is witnessing a significant boom. These regions are not only seeing an increase in overall business volume but also making strides in specialised areas. This evolution suggests a gradual redistribution of the legal services market across China, creating a wider array of opportunities for practitioners.

While the current economic climate has led to a slow market, it pivots law firms towards burgeoning industries such as new-energy vehicles, lithium-ion technology, semiconductors and healthcare. IP, dispute resolution, and bankruptcy and restructuring are emerging, too, as focal points for many firms. These sectors demand not only specialised knowledge but also extensive practical experience, making new crucial battlegrounds among firms.

Based on the levels of business activity in the different cities, the China Business Law Awards (Regional Awards) 2024 cover 18 regions. To determine the winners, each firm¡¯s landmark deals and cases, as well as other notable achievements in the past year, were evaluated carefully in combination with the nominations and comments we received.

The awards highlight the unique characteristics and expertise of different firms, aiding in-house counsel readers in selecting appropriate external lawyers.

As in previous years, the regional awards do not include the headquarters of the Chinese law firms that were Golden League winners in the China Business Law Awards 2024, namely?AllBright Law Offices,?Fangda Partners,?Haiwen & Partners,?Han Kun Law Offices,?Jingtian & Gongcheng,?JunHe, King & Wood Mallesons and?Zhong Lun Law Firm.

Due to space constraints, the article includes only a selection of firms¡¯ achievements and market testimonials. Despite their challenges, law firms throughout China continue to embody a spirit of perseverance and entrepreneurship. This unwavering determination may be the cornerstone of the industry¡¯s resilience in adversity.

The winning list is sorted by region and law firm name in alphabetical order

REGIONAL AWARDS

Best Overall Law Firms (Beijing)

Guantao Law Firm¡¯s legal services have been well recognised by its peers. Zhao Yong, a partner at local Beijing firm Xinnuo Law Firm, says: ¡°What we admire most is their ability to independently assess case developments based on their professionalism, rather than simply catering to our thoughts and demands, demonstrating the professional ethics of lawyers.

¡°Their service attitude and communication skills are particularly outstanding,¡± he adds. ¡°When discussing case details, they are passionate yet patient, always clarifying our questions and intentions before providing answers, allowing us to speak freely.¡±

Jia Yuan Law Offices¡¯ Beijing headquarters has maintained its leading edge in the capital markets area, advising on 10 domestic IPOs with a cumulative issuance amount of RMB27.1 billion (USD3.8 billion) in the past year. Yang Ping, the board secretary of Avic (Chengdu) Uas, praises the firm¡¯s role as the issuer¡¯s adviser for the company¡¯s IPO project since 2019. ¡°They provided professional and comprehensive legal advice and solutions on the flaws, assets, and numerous unprecedented capital markets-related issues, offering continuous legal counsel to our company,¡± says Yang. After the company successfully went public, Jia Yuan continued to serve as its long-term counsel.

Yang recommends Jia Yuan¡¯s founding partner, Yan Yu, and senior partner Yan Siyu from the Beijing office. ¡°Yan Yu is a highly regarded lawyer who is not only valued and appreciated by our company, but also by our group,¡± says Yang. ¡°Yan Siyu has also gradually excelled in the aviation legal services field, gaining recognition when acting as our company¡¯s signatory attorney, endorsed by all levels of the company.¡±

Tian Yuan Law Firm¡¯s Beijing office is commended by Lin He, director of China Yangtze Power International (Hongkong¡¯s) legal compliance department. Lin praises the team led by?Chai Jie, a partner at Tian Yuan¡¯s Beijing office, for its legal services in an M&A project. ¡°Chai¡¯s team was fully engaged in investment and acquisition, overseas asset management, and enhancement of overseas compliance systems, providing ample legal support in antitrust review, foreign investment protection and legal stability agreements on overseas assets, and cross-border compliance management alignment, demonstrating a high level of professionalism in navigating the laws of Mainland China, Hong Kong, Peru, Panama, Bermuda, and other countries and regions,¡± says Lin.

Fangda Partners¡¯ Beijing office advised on a prominent IP case that achieved a significant milestone last year. In December 2023, the Beijing High People¡¯s Court upheld a first-instance judgment in the appeal procedure of the copyright infringement and unfair competition dispute of?NavInfo?v?Baidu, confirming Baidu¡¯s infringement and awarding compensation of RMB64.5 million for economic losses at NavInfo, represented by Fangda. The compensation amount was the highest awarded in the field of electronic maps in China. The case lasted six years, involving the determination of originality expressions in electronic maps and drawing significant industry attention.

Tahota Law Firm¡¯s Beijing branch, with nearly 300 lawyers, is the largest branch of a non-local firm in Beijing and is capable of providing comprehensive legal services with abundant experience in major civil and commercial dispute resolution, IP, capital markets and other areas. Nancy Wei, legal director at Tupperware (China), says: ¡°Tahota has expert lawyers and professional committees in different practice areas to offer clients professional and efficient legal services. Their fees are relatively reasonable and flexible, making them highly recommended.¡±

Wei also recommends?Charles Feng, senior partner at Tahota¡¯s Beijing office. ¡°He has extensive practical experience in trademark patents and anti-unfair competition cases, with a solid foundation in legal theory, deserving of trust,¡± she says.

REGIONAL AWARDS

Best Overall Law Firms (Central China)

Tiandiren Law Firm caters to a range of local leading enterprise clients. In the bankruptcy case of Hunan-based Tanheng Expressway Development, in which the firm served as one of the bankruptcy administrators, Tiandiren successfully navigated issues such as the disappearance of legal representatives and senior executives, a scarcity of remaining auction proceeds, and complex debt situations, ultimately maximising the interests of the creditors.

The case stands out for re-entering bankruptcy proceedings following co-ordination between government departments and court-organised fund distribution procedures. Earlier, a local court hosted an auction of the overall tolling rights of the Tanheng West Expressway, fetching RMB10.6 billion (USD1.5 billion), setting a record in judicial auction history and drawing widespread attention.

Zhongsan Law Firm caters to a vast clientele including central enterprises, state-owned enterprises and local government agencies. In a property sales contract dispute between more than 300 expropriated households in the Qiaokou district of Wuhan and banks along with local government departments, Zhongsan represented the Qiaokou District Urban Renovation Bureau. The firm handled tasks including drafting solutions, representing the expropriated in filing lawsuits to cancel mortgages, and assisting with the registration of property rights for resettlement houses.

The court ultimately supported the firm¡¯s arguments, enabling hundreds of expropriated individuals to register their rights over resettlement houses. This was Wuhan¡¯s first judicial case determining the priority of property rights expectations over mortgage rights, leading to the cancellation of mortgage registrations, achieving a win-win outcome and averting social disturbance.

East & Concord Partners has earned high praise from Zuo Jiajia, vice legal manager at Hubei Road & Bridge Group, for the professional ethics and social reputation of the lawyers at the Wuhan branch. ¡°The firm not only resolves legal complexities with exquisite professional skills, but also patiently assists clients with relatively simple legal matters, a highly valuable trait,¡± she says.

Zuo recommends Tang Cenzhi, managing partner of the Wuhan branch. ¡°Tang understands the mindset of adjudicators well, seamlessly transitioning between a lawyer¡¯s perspective and a judge¡¯s viewpoint, foreseeing and accurately predicting the future direction of cases, thereby aiding us in promptly choosing effective dispute resolution solutions,¡± she says.

Hui Ye Law Firm¡¯s Changsha office receives a recommendation from Xu Jiao, assistant general manager of Hunan Xiaosuan Technology Information, for providing ¡°comprehensive legal services tailored to different client needs¡±.

¡°The firm can dispatch senior lawyers, lead lawyers and legal assistants from Changsha and other branches according to service requirements to work with the leading lawyer, making full use of the firm¡¯s nationwide resources to build project teams,¡± says Xu.

Lantai Partners?has garnered widespread praise from local clients for its services, with offices in Wuhan, Zhengzhou and Changsha in the central China region. Lin Yu, vice general manager at Hubei Fuguo Tianhe Intelligence Engineering Management, says that while advising on a civil lending dispute for her company, Lantai provided ¡°high-quality, professional legal services¡±.

¡°Their legal team has a solid foundation of legal knowledge and clear logical thinking, understanding our company¡¯s interests well. They efficiently organise a team to promptly propose targeted legal solutions,¡± she says.

REGIONAL AWARDS

Best Overall Law Firms (Chengdu)

*?Sichuan?Junhe?Law Firm is not affliated with?JunHe, a law firm headquartered in Beijing.

Faxian Law Firm has its headquarters in Chengdu and boasts 15 branch offices nationwide. Zhou Mengya, an in-house counsel at Sichuan Tianfu Financial Leasing, says: ¡°Faxian Law Firm distinguishes itself with outstanding comprehensive strength, extensive business coverage, profound professional expertise, forward-looking development strategies, and an exceptional sense of social responsibility.¡±

Zhou particularly recommends Luo Yi, founding partner at the firm¡¯s Chengdu office. ¡°Luo Yi consistently prioritises social responsibility, actively engaging in social welfare activities and aiding marginalised groups. Through practical actions, he embodies the professional ethics and social responsibility of a lawyer, earning our trust and respect.¡±

Tahota Law Firm?has been continually expanding its business into emerging fields such as high technology and artificial intelligence, blockchain and healthcare. Last year, Tahota successfully obtained market approval of a Chinese herbal product from the Drug Regulatory Authority of Pakistan for Yiling Pharmaceutical. Acting as the lead co-ordinator and manager, the firm, in collaboration with local Pakistani lawyers, provided specialised legal services on the project. Against the backdrop of the Belt and Road Initiative, the success of this project holds significant implications for Chinese pharmaceutical companies looking to expand into the Pakistani market.

AllBright Law Offices, according to Qin Lieyu, vice president and general counsel of CREC Culture & Tourism Group, offers exceptionally high-quality service at its Chengdu branch. ¡°During consultations with AllBright, they patiently address our queries, providing professional opinions and suggestions,¡± says Qin. ¡°In handling cases, they are meticulous, ensuring that clients¡¯ rights are maximally protected.¡±

Qin also commends Yun Zhi, a senior partner at AllBright¡¯s Chengdu office, for ¡°always offering insightful guidance¡± on critical legal issues. ¡°Even when faced with challenging problems, Yun remains resolute, calm and persistent in resolving issues, not giving up on any potential breakthrough opportunities, and fighting for and safeguarding clients¡¯ rights,¡± he says.

Dacheng Law Offices, through its extensive practical experience, flexible commercial strategy advice, and proactive assistance in matching investment and financing resources for clients, receives a recommendation from an assistant general manager of a precision equipment manufacturer in Chengdu. She provides an example in which the firm analysed the potential impacts of suing a prominent local client for unpaid receivables, including potential blacklisting by central enterprises in future bidding. After a comprehensive evaluation, Dacheng recommended the company handle the situation with moderation rather than take it to court.

¡°This incident showcases how Dacheng fully considers the client¡¯s perspective, with all solutions geared towards maximising client benefits, placing their own gains from representing cases in a secondary position,¡± she says.

REGIONAL AWARDS

Best Overall Law Firms (Chongqing)

Baijus Law Firm has successfully handled a significant dispute for China National Petroleum Corporation (CNPC) involving a target amount exceeding RMB200 million (USD28.3 million). The dispute arose from a coal mine of Guizhou Panjiang Refined Coal Company being overlaid by the Sino-Myanmar Gas Pipeline, owned by CNPC. With numerous involved parties and complex legal relationships, the case required tracing back facts nearly 20 years to clarify the rights and obligations among the parties in order to determine the true liable party.

The coal overlay resulted in substantial losses of coal resources and investment in mining facilities, significantly impacting both sides. Baijus conducted in-depth analysis on the focal issues combined with intricate case facts to establish core evidence, and ultimately achieved a comprehensive exemption for the client in litigation.

Jingsheng Law Firm, known for its professional service quality, has earned recognition from Xu Xiaofeng, secretary of the administrative office at Chongqing Liangjiang Public Transport. Serving as the company¡¯s long-term legal counsel, Jingsheng ¡°continuously provides professional and efficient legal services to prevent and resolve legal risks, offer legal guidance and compliance training, and drive the company¡¯s compliance management to higher levels¡±, says Xu.

She also commends Xu Difeng, an associate at Jingsheng in Chongqing, for his extensive experience in handling various legal issues involving state-owned enterprises. ¡°In representing our cases, Xu proactively co-ordinates all parties, carefully assesses litigation strategies, fully utilises his legal expertise and effectively safeguards the company¡¯s legal rights, and has achieved satisfactory results in several cases he represented for the company.¡±

DeHeng Law Offices¡¯ Chongqing branch continues to uphold its development strategy of ¡°moderate scaling, deep specialisation and integrated management¡±, and is recommended by Ye Sheng, vice president of CCTEG Chongqing Engineering (Group). Ye cites a construction dispute the firm handled for his company, praising DeHeng for ¡°fully leveraging its legal expertise in construction disputes, utilising its rich case experience to collect and organise evidence, communicate with participating parties, provide professional legal opinions and documents, and excel in the arbitration process, effectively fulfilling their role of legal representation for us and ultimately winning the arbitration case for our company¡±.

Ye also recommends Yang Rui, director of DeHeng¡¯s Chongqing office. ¡°Yang possesses comprehensive legal expertise, rich experience, excellent communication skills, and a thorough analysis of the arbitration case, assisting our company in evidence organisation and preparation, consolidating various pieces of evidence, and having us well prepared,¡± he says.

Zhong Lun Law Firm¡¯s Chongqing branch has handled multiple capital markets, and investment and financing, transactions for leading local companies in the past year. In the context of tightened regulations on A-share IPOs, the firm assisted a local automotive company in gaining control over a listed company through a group¡¯s bankruptcy reorganisation process, successfully achieving listing status. A senior manager of the auto company¡¯s investment department praises Zhong Lun for being ¡°professional and patient with clients, highly proficient in the capital markets, corporate laws and related fields, and able to provide consultancy responses, explanations and reasonable suggestions tailored to clients¡¯ business and intentions¡±.

He also recommends Wu Lintao, an equity partner at Zhong Lun¡¯s Chongqing branch. ¡°His expertise in capital markets legal matters is exceptional, providing reasonable and rigorous advice in line with our business circumstances, actively responding to our demands and issues, and offering extensive support to our company.¡±

REGIONAL AWARDS

Best Overall Law Firms (Fujian)

Fidelity Law Firm is known as a local expert when it comes to major bankruptcy reorganisation cases. The firm was designated as one of the co-administrators in the substantive consolidated reorganisation of Fujian Zhonghe and three other companies, a massive case that involved about 1,800 creditors and 37,000 shareholders. In the end, all debts were settled in cash, a rarity among cases of a similar size.

In addition, Fidelity participated in: the consolidated bankruptcy reorganisation of Xiamen ITG Investment and Zhengbang Group, a leader in the pig farming sector; the bankruptcy reorganisation of Quanzhou-based Mingzhi Property; and the liquidation of Ningde Industrial Supply and Marketing.

Tenet & Partners provides legal services in capital markets, dispute resolution, IP and more to a wide range of Fujian-based companies, with increasing focus recently placed on data compliance. During the past year, the firm advised Xiamen Road and Bridge Information and Tietuo Machinery in their IPOs on the BSE, with the former being the first in Fujian province to do so. A number of lawyers at the firm also acted as specialist counsel during local legislative consultation, review and key meetings.

Dacheng Law Offices, with two branches in Fujian province ¨C Fuzhou, Xiamen?¨C provides all-round legal services to companies from various industries including energy, chemicals, finance, and construction and engineering. For example, the Xiamen branch defended the Export-Import Bank of China in a complex dispute involving ship mortgage and ownership, which ended with a withdrawal of proceedings and the court recognising the bank¡¯s security interests.

Dacheng¡¯s Fuzhou branch has offered its expertise on internet content provider filing, franchise programme application and personal information compliance to Fuzhou City Investment Group in terms of numerous urban public service projects such as online malls and smart charging posts.

Although relatively young, the Xiamen branch of?AnJie Broad?has quickly become a local force to be reckoned with when it comes to cross-border dispute resolution. The branch advised Xiangyu Logistics Group in its aluminium alloy wheel-related dispute with US-based Wholesale 209, helping its client secure a complete victory and full compensation of more than RMB15 million (USD2.1 million).

In an arbitration case filed by Hong Kong-based ITS Wood Asia against BNBM Group Forest Products, AnJie & Broad advised the respondent and argued for inconsistency between the contract numbers contained in the invoice and the letter of credit, which was supported by the tribunal that rejected all applicant claims.

Leveraging geographical advantages, the Xiamen office of?DeHeng Law Offices?advised on the establishment of the Haicang Mediation Room for Taiwan Affairs under the BNR International Commercial Mediation Centre. Foreign-related business has been among the firm¡¯s recent highlights, including advising outbound Chinese companies in bulk purchases of smart products from Brazil.

DeHeng also advised Xingxin Cement in its complex contractual dispute against Minfu Building Materials and SY Trading. The case was noted for its difficulty due to involving losses caused by a subcontractor¡¯s breach of contract in 2013, and given that there was no clear provision on loss compensation. In spite of a loss at the first-instance trial, the firm was nonetheless able to secure an eventual victory.

REGIONAL AWARDS

Best Overall Law Firms (Guangzhou)

ETR Law Firm?provides all-round legal services to government agencies, institutions and businesses in Guangzhou. In the past few years, ETR, acting as the sole PRC legal counsel for the Guangdong provincial government, advised on the issuance of local government bonds in Macau. It has also provided special legal services for dozens of local banks and Guangzhou branches of national banks.

ETR also advised Haizhu City Development Group in its debut of RMB1 billion (USD141 million) in private placement bonds, and Guangdong Electric Power Development in the shelf offering of RMB10 billion in corporate bonds.

Goldsun Law Firm?provides legal services in capital markets, bankruptcy reorganisation and dispute resolution for listed companies, local leading enterprises, foreign-affiliated businesses and financial institutions. The firm assisted Zhongxu Future and Pourin Special Welding Technology in their listings on the Stock Exchange of Hong Kong and Shenzhen¡¯s ChiNext board, respectively. Several of the firm¡¯s bankruptcy reorganisation cases and IP lawsuits have been selected as benchmark or outstanding cases by provincial and municipal governments.

Lin Jiao, director of the management centre at Excellence Information, praises Goldsun for its ability to ¡°help clients uncover the root causes of issues and provide helpful solutions from a legal perspective¡±. She particularly commends director Lin Taisong, senior partner Liu Yudong and partner Ding Zhenfeng for delivering professional and efficient legal services in their respective areas of expertise.

Wang Jing & GH has served as legal counsel for leading companies such as Alibaba, Tencent, China Southern Power Grid and Vitasoy. In recent years, the firm has focused on developing innovative businesses, attracting several senior partners. This foundation allowed them to expand into fields like IP, taxation and liquidation, while also establishing a family office branch. Last year the firm assisted Tencent in launching the Hunyuan large language model and provided privacy and data compliance support for its Chinese input product, WeChat Keyboard. The firm also acted as legal adviser for GAC Aion, fully supporting its investment of RMB1 billion to build a factory in Thailand.

Huang Hanzhang, deputy legal director at WeChat, praises Wang Jing & GH for providing high-value services and having deep industry insights. He describes director Jeff Yang as ¡°a trustworthy and reliable partner¡±, noting his expertise and extensive experience in the internet and digital economy sectors. ¡°His meticulous attention to detail and strong sense of responsibility have also left a deep impression on us,¡± says Huang.

Last year, the Guangzhou branch of?Jincheng Tongda & Neal?handled several high-profile cases and projects. The branch represented a major state-owned bank in a financial loan contract dispute against Fuda Real Estate Development and Pan Sutong, making significant progress. The firm secured the first claim on the Songri Headquarters Building as collateral through interim measures, and proceeded with valuation and auction after winning a favourable court ruling. The building, only 80% complete, successfully sold for RMB1.3 billion.

Richard Tian, head of the legal department at Skechers China, highly praises the IP services of?Jincheng Tongda & Neal¡¯s Guangzhou branch. He highlights senior partner Peng Shengfeng and his team, including associate Wang Tian, for their assistance in negotiating and signing major contracts that helped save significant costs, and for protecting the company¡¯s interests in several legal disputes. ¡°Their legal advice is well reasoned and tailored to the company¡¯s actual situation, providing feasible solutions,¡± says Tian.

In the past year, the Guangzhou office of?JunHe?represented Guangzhou Industry Investment Holding Group in completing a RMB2 billion investment in Guofeng Venture Capital¡¯s New Intelligence Investment Fund, which primarily focuses on next-generation technologies including semiconductors, integrated circuits and smart manufacturing.

The branch also acted as the PRC legal adviser for the joint underwriters, including CLSA, Goldman Sachs, Morgan Stanley, DBS Asia and CICC, in the HKD8.36 billion (USD1.07 billion) rights issue of Hong Kong-listed Yuexiu Property. In October 2023, it completed filing at the China Securities Regulatory Commission for overseas listing. This was the first Stock Exchange of Hong Kong property rights issue project to fulfil such a filing requirement after the implementation of the Interim Measures for the Administration of Overseas Securities Offering and Listing by Domestic Enterprises.

REGIONAL AWARDS

Best Overall Law Firms (Haikou)

Grandall Law Firm¡¯s Haikou office provides dispute resolution services for administrative bodies, local enterprises and national companies¡¯ branches in Hainan, participating in several significant cases. The firm represented Bohai Life Insurance in a savings contract dispute involving RMB1.8 billion (USD254.9 million) that was also impacted by the bankruptcy reorganisation of HNA Group. The firm ultimately achieved a sweeping victory in the first instance. Grandall also serves as legal adviser to administrative agencies in Hainan province and has participated in the drafting, review and revision of numerous regulations, ordinances and industry standards.

Kangda Law Firm¡¯s Haikou branch serves as the compliance adviser for several infrastructure, real estate and internet technology companies. The branch guided Hotwon and Watchdata in establishing their compliance systems, and successfully completed dual standard certifications for ISO 37301:2021 and GB/T 35770-2022 compliance system management. The branch has also achieved notable success in dispute resolution. For example, it represented CCCC First Harbor Engineering (Hainan) in a construction contract dispute case filed by Zitong Municipal Engineering, leading to a settlement on the first day of the hearing.

Zhong Lun Law Firm¡¯s Haikou branch demonstrates outstanding performance in dispute resolution, investment M&A, and domestic and international capital markets. Under a commission from Hainan Development Holdings, the branch swiftly completed the large-scale due diligence of Hainan Salt Industry Group and its subsidiaries, facilitating the company¡¯s restructuring and integration into Hainan Holdings.

Zhong Lun Haikou also assisted Hainan State Farms Fund Management in completing the filing procedures for its fund of funds. Lyu Dongkai, chairman and general manager at the company, highly praises the branch¡¯s professional expertise and communication skills. ¡°They adjust their work approach based on past project experience, combined with the latest legal regulations and supervisory requirements, to propose the best work solutions,¡± he says. Lyu especially commends the branch director, Liao Hui, lead partner for the filing project, for his co-ordination abilities.

REGIONAL AWARDS

Best Overall Law Firms (Hefei)

Chengyi Law Firm serves as a long-term legal adviser to numerous government agencies and local enterprises in Anhui province. Its financial institution clients include the Hefei branches of Bank of China and Nanyang Commercial Bank, as well as Anhui Credit Guarantee Group. The firm recently assisted Zhongding Sealing Parts in issuing global depositary receipts and listing on the SIX Swiss Exchange.

The firm acted as the administrator in the merger and bankruptcy reorganisation of 43 enterprises under Anhui Goocoo Group, and the bankruptcy reorganisation of Jiuzhou Industrial Development. Its lawyers also participated in the revision of several local normative documents.

In the past year, Tianhe Law Firm has continued to leverage its expertise in the capital markets sector. The firm assisted Huangshan Googe in successfully passing the review for listing on the Shenzhen Stock Exchange¡¯s ChiNext board. Tianhe also participated, as a specially appointed legal adviser, in the preparation work for the main board listing of CNSG Anhui Hong Sifang Fertilizer on the Shanghai Stock Exchange.

Tianhe also served as the issuer¡¯s counsel in the share issuance of test equipment manufacturer Cowell to specific targets through a simplified procedure. Zhang Yan, the company¡¯s securities affairs representative, praises the firm for its profound expertise and client-centric approach, noting that it responds to client needs promptly and thoughtfully.

Grandall Law Firm¡¯s Hefei branch has provided specialised legal services for several projects, including the registration and issuance of debt financing instruments for Anhui Transportation Holding Group, the registration and issuance of RMB15 billion (USD2.1 billion) in shelf company bonds for Anhui Investment Group, and the registration and issuance of ¡°tech innovation¡± corporate bonds for Anhui Province Railway Development Fund.

Grandall has also participated in several high-value industrial, real estate and construction engineering disputes. Among these, an international goods sales contract dispute between Gold Star Titanium Dioxide and the US-based Sturtevant involved explaining complex industrial concepts to the court. The case provided a reference for how buyers in goods sales disputes can prove that a contract¡¯s purpose is unachievable and should be attributed to the seller. Additionally, the case of?Ma v Anhui Juncheng Real Estate et al (2023), in which Grandall also participated, clarified the recognition of the ¡°same legal fact¡± in cases involving both civil and criminal elements.

Jincheng Tongda & Neal¡¯s Hefei branch represented Zhongan Financial Asset Management in the acquisition, disposal and recovery of a non-performing asset package from a rural commercial bank using a combination of civil, administrative and criminal measures. The case involved RMB550 million in non-performing debts, with the debtor concealing assets, significantly increasing the difficulty of enforcement. The branch also served as the legal adviser for Sunriver, a cultural and tourism industry service provider, assisting in the restructuring of certain project assets of the Hong Kong-headquartered Yuanyi Group.

REGIONAL AWARDS

Best Overall Law Firms (Hong Kong)

Deacons has been operating in Hong Kong for more than a century, focusing on capital markets, M&A and real estate services. In 2023, its team acted as Chow Tai Fook Enterprises¡¯ Hong Kong counsel in the city¡¯s largest M&A deal that year. The jewellery giant acquired all remaining shares of NWS Holdings that it did not already own at HKD35.5 billion (USD4.5 billion). In the same year, the firm bagged roles when Airport Authority Hong Kong launched retail bonds totalling HKD5 billion ¨C its team advised joint lead managers Bank of China and HSBC, as well as the trustee, Bank of China (Hong Kong) Trustees, on Hong Kong law.

YYC Legal is led by managing partner Victor Yang, who advised on CITIC Group¡¯s sale of USD1.91 billion in equity interests to China Huarong Asset Management Corporation (now China CITIC Financial Asset Management). In 2024, the firm hired M&A and capital markets specialist?Rossana Chu?as a partner. She has advised on many M&A transactions, including sports brand Li-Ning¡¯s HKD2.2 billion acquisition of property investment company Vansittart Investment, and Hong Kong-listed Asia Allied Infrastructure¡¯s HKD165 million acquisition of 59.23% of Modern Living issued shares.

Han Kun Law Offices?advised automotive company NIO on Hong Kong law when it issued USD1 billion in convertible senior notes. It also assisted Shaanxi Xixian New Area Development Group in a RMB1 billion dim sum bond issuance, the first of its kind from Shaanxi province listed in Hong Kong and Macau. Aside from bonds, Han Kun assisted companies to debut in Hong Kong and the US, including electric bike maker Luyuan Group, vending machine operator UBOX Online Technology Corp, and electrical appliances manufacturer Raytech. The firm¡¯s Hong Kong office houses 25 lawyers, including seasoned partner Allen Zhang, who was recruited this year to enhance the firm¡¯s capital markets practice. Zhang previously practised at A&O Shearman, Linklaters and King & Wood Mallesons, and had served as a lead counsel for the Ministry of Finance on all its offshore treasury bond issuances for six years.

Jingtian & Gongcheng advised on numerous Hong Kong listings in the first half of 2024, including one of the biggest IPOs of the year ¨C Baicha Baidao¡¯s HKD2.59 billion offering. The firm¡¯s team advised the issuer on PRC law and had to conduct legal due diligence for more than 7,000 branches. It also advised Baicha Baidao on outbound investment and establishing offshore entities. Haitong International Securities¡¯ director of equity capital markets, Louise Xu, praises the firm¡¯s services, saying: ¡°Their lawyers always provide comprehensive and thorough answers to address the company¡¯s and our queries. They were able to pinpoint the key issues.¡± She recommends partner Stephen Luo, who specialises in capital markets and M&A.

JunHe¡¯s cross-border legal services are recognised by Sina¡¯s senior counsel, Liu Jinqiao,?who says: ¡°Its strong suit is acting as a one-stop platform that offers clients legal solutions on cross-border matters. It demonstrates professionalism and excellence in integrating resources when dealing with complex international cases, and is particularly strong at finance and M&A practices.¡± The firm flexed its capital markets muscle when it acted as Fujian Zhanglong Group¡¯s international law counsel during its issuance of USD500 million in offshore blue bonds on the Stock Exchange of Hong Kong. When Egypt issued a RMB3.5 billion panda bond, the first African country to do so, JunHe?acted as PRC law counsel to the lead underwriters, Bank of China and HSBC.

REGIONAL AWARDS

Best Overall Law Firms (Jiangsu)

HE & Partners has been praised by clients including Suzhou Water Conservancy¡¯s director, Han Jing. ¡°The law firm provided professional and effective legal advice in many government investment projects and state-owned enterprises¡¯ M&A, and investment businesses,¡± says Han. SIP Genway Housing Development Group¡¯s general manager, Zhang Ligang,?recommends the firm¡¯s litigation services. Commending senior partner Xie Yukuan, Suzhou Yuanrong Development Group¡¯s manager, Zhao Chao, says: ¡°Xie leaves an impression that he is extremely rigorous. He addresses core issues by providing professional analysis and suggestions, supported with explanations from different perspectives.¡±

Sundy Law Firm?is particularly skilled in the field of IP. A trade secret dispute represented by senior partner Hu Jianhua?was selected by the Supreme People¡¯s Court as one of the top 10 IP cases in Chinese courts in 2023. The case involved a Jiangsu drugmaker that sold a lentinan drug-making technique to a third party for RMB1 million, but the exchange violated a confidentiality agreement with Hu¡¯s client, a pharmaceutical company in Nanjing. Ultimately, Hu¡¯s client received RMB20 million in compensation. In a patent infringement case, Hu and partner Liu Hui successfully helped a new-energy company recover RMB5 million in compensation.

AllBright Law Offices?has been advising Nanjing NII Group, a major shareholder of the buyer, Nanjing Iron & Steel Group, in a complex legal battle over Nanjing Iron & Steel United¡¯s 60% equity. The firm designed the transaction structure and advised on shareholders¡¯ pre-emptive rights in the RMB13.6 billion deal. The firm¡¯s Suzhou office is praised by UL China¡¯s associate general counsel, Cheryl Luan, who recommends senior partner Shi Rong. ¡°[Shi] provides very practical warnings and solutions based on case law, common practices by regulatory authorities, and her team¡¯s practical experience,¡± says Luan.

AnJie Broad¡¯s Nanjing office focuses on dispute resolution, maritime and IP practices. In June 2023, the firm represented Shanghai Huaneng E-business in a contract dispute involving about RMB31 million, winning the case and securing compensation for the client. Lei Xin, legal director at Huitongda Network, says the firm helped his company recover accumulative losses of tens of millions of renminbi. ¡°AnJie Broad¡¯s Nanjing office has been our counsel for nearly a decade. The company is very satisfied with its legal services, particularly in corporate governance, risk control and litigation,¡± says Lei.

Jincheng Tongda & Neal¡¯s capital markets team in Nanjing has been advising clients in issuing first-of-a-kind notes and bonds in the past year. The firm advised Zhenjiang Transportation Industry Group on the issuance of China¡¯s first ¡°E-CNY¡± debt financing instrument. It also advised Nanjing City Construction Development in issuing the first tranche of 2024 green medium-term notes, Nanjing city¡¯s first digital RMB bond. Beyond capital markets deals, it also advises on large-scale construction projects.?Jincheng Tongda & Neal?advised on the construction of a large liquefied natural gas receiving terminal in Fujian province, involving an investment amount of RMB7.7 billion, advising four investors on establishing companies and compliance in construction.

REGIONAL AWARDS

Best Overall Law Firms (North China)

Join & High Law Office, located in Tianjin, specialises in representing clients in engineering and contract disputes. Partner Huo Gang and senior partner Xiao Min represented China Railway 18th Bureau Group for 12 years in a construction contract dispute and successfully overturned the case at the Beijing No. 2 Intermediate People¡¯s Court in June 2024. Wang Junbao, board chairman of Tianjin Junhao Marine Engineering, praises the firm¡¯s services and recommends Xiao: ¡°He is highly skilled and logically clear, has a solid theoretical foundation and rich practical experience, and can work conscientiously.¡±

Ruo Hui Law Firm, headquartered in Inner Mongolia¡¯s Hohhot, advises clients such as Jingu Rural Commercial Bank and Inner Mongolia Transportation Group on corporate restructuring, mergers, and bond issuance. The Finance Bureau of Yakeshi in the Inner Mongolia Autonomous Region praises the firm¡¯s senior partner, Wu Ruidan: ¡°She provided high-quality and efficient legal services to us.¡± Wu advised the authority on the restructuring of Hulunbuir¡¯s municipally-owned companies and offered different kinds of plans for companies that were successful, suffered losses, or were not in line with the authority¡¯s development.

AllBright Law Offices¡¯ Tianjin office has been advising startups and semiconductor accessories companies on their financing projects in the past year. Its team represented a client in a civil procedure to resolve a complex contract dispute involving a public-private partnership. The firm¡¯s consulting and litigation services in infrastructure investment are praised by Wang Zhiguo, the head of the commercial law department of CCCC Tianjin Dredging, who says: ¡°I recommend lawyer Wang Tengyan. Wang is professional and very experienced. She can provide comprehensive solutions to complex issues. Her team is diligent and responsible, and has an optimistic attitude and working style.¡±

Tahota Law Firm¡¯s Tianjin office was established in September 2017, and since then it has been focusing on maritime, M&A and dispute resolution. The firm has ample experience representing Tianjin companies in recovering losses in international contract disputes, including a conflict over a spa franchise from Thailand called Let¡¯s Relax, and a commission dispute between Leon Artificial Lift and Italy¡¯s NIDEC.

REGIONAL AWARDS

Best Overall Law Firms (Northeast China)

Heilongjiang Dadi Law Firm serves as legal adviser for both the Heilongjiang provincial and Harbin municipal governments. Many of its partners are members at various levels of the Chinese People¡¯s Political Consultative Conference and deputies to the National People¡¯s Congress.

In 2023, the firm acted as the bankruptcy administrator for Aurora Optoelectronics, a developer of sapphire crystal materials, and completed the bankruptcy process in just 32 days, making for one of the fastest reorganisations of a listed company in China. This rapid turnaround facilitated a strategic investment of RMB1.83 billion (USD258 million) and revitalised assets worth RMB6.47 billion. The Heilongjiang Higher People¡¯s Court marked it as an achievement in promoting pre-reorganisation and bankruptcy restructuring systems.

Heng Xin Law Office?specialises in handling litigation cases related to shipping containers based on its expertise in the maritime business. The firm is also strengthening practice areas including bankruptcy and reorganisation, and banking and finance. Last year, the firm acted as a provisional administrator in Dalian Postal and Telecommunications Construction¡¯s reorganisation, the first successful pre-reorganisation case in Liaoning province.

Dacheng Law Offices operates five northeast China branches in Shenyang, Dalian, Changchun, Jilin, Harbin, effectively meeting regional legal needs. The Shenyang office excelled last year in civil and commercial dispute resolution, bankruptcy, government counselling and criminal law, achieving substantial revenue growth.

When a construction project by the northeast branch of the China Construction Fourth Engineering Bureau was halted due to the bankruptcy of the property developer, Dacheng facilitated the introduction of a third-party investor, ensuring debt repayment and the availability of funds for the project¡¯s continuation. Ma Haoran, deputy manager of the company¡¯s business management contract legal department, praised the Shenyang office for ¡°achieving results that far exceeded expectations¡±.

Jincheng Tongda & Neal?(JT&N) advised on the largest restructuring in China¡¯s auto industry last year. The firm advised Shenyang Automobile on its RMB16.4 billion acquisition of the indebted Huachen Automotive Group. Huachen had defaulted on debts in 2020, which led to a restructuring plan that included 12 of its associate companies. However, creditors repeatedly rejected the proposals until Shenyang Automobile stepped in last year.

JT&N¡¯s Dalian office also specialises in international maritime dispute resolution, including arbitrations in London and Singapore. The firm has also contributed to the revision of maritime law as part of the secretarial team.

SGLA Law Firm?has absorbed the former Fada Law Firm, which long served the legal needs of local government bodies and major enterprises in northeast China, including the Human Resources and Social Security Bureau, the Public Security Bureau, the Tax Bureau and the Customs and Excise Department in Dalian, and the Dalian branches of China Tobacco, China Unicom and PetroChina.

SGLA has a good track record in foreign investment, particularly with Japanese companies. Han Xue, chief of the Dalian branch of Canon Medical Systems Corporation, commends partner Liu Ying and her team for their practical legal solutions and guidance in navigating changes in China¡¯s legal and investment landscape, praising the firm for ¡°providing effective protection for my company¡¯s long-term investments and operations in China¡±.

REGIONAL AWARDS

Best Overall Law Firms (Shandong)

Wincon Law Firm¡¯s Qingdao office has 18 deputies to the National People¡¯s Congress and various levels of the Chinese People¡¯s Political Consultative Conference. Last year, the firm represented the defendant in a case in which Zhejiang Jingu sued Rizhao Xingye Group for leaking technical secrets and finally achieved a victory. Compared with patent rights, technical secrets such as those in this case have no clear basis or boundary of rights, which means that it can be easy for plaintiffs to file a lawsuit by abusing their rights, but incredibly burdensome for the defendant to deal with the aftermath.

DHH Law Firm stands out for its significant strides in IP rights. After a seven-year criminal legal battle relating to the infringement of trade secrets by a listed company and six persons, DHH achieved victory for the trade secret rights holder. The Supreme People¡¯s Procuratorate selected the dispute as an exemplary case last year.

Judy Duan, finance manager at Skiold China, praises DHH for its ¡°exceptional professional capability¡± and says the firm ¡°helped us achieve unexpected success in several lawsuits¡±.

Tahota Law Firm, with more than 220 lawyers in its Jinan office, focuses on insolvency and IP law. Many lawyers at the firm hold key positions within the Shandong and Jinan law associations and are actively engaged in advising on government and public affairs.

In 2022, a court appointed Tahota as the bankruptcy administrator for the reorganisation plan of Jinan Haisheng Agricultural Company. The plan was successfully implemented the following year and was recognised as an exemplary case by the Shandong Bankruptcy Administrators Association. The Pingyin county government included the case in its 2023 Government Work Report, referring to it as ¡°a textbook of addressing local economic challenges and ensuring livelihood stability¡±.

Zhong Lun Law Firm?maintains an advantage in dispute resolution. Sun Fanglong, a Qingdao-based equity partner at the firm, played an important role in JD.com¡¯s nearly seven-year anti-monopoly litigation against Alibaba, which resulted in a victory in the first sentence and a landmark RMB1 billion (USD141.3 million) in compensation, setting a record for anti-monopoly damages since the enactment of the Anti-monopoly Law in 2008.

The firm has handled many significant local cases in Shandong, including a 2020 lawsuit in which the Rizhao Port Group sued the Lanqiao Port Company in the Qingdao Maritime Court for failing to fulfil asset transfer obligations under their acquisition contract. The case was complicated by the involvement of the Shandong Provincial Party Committee, the provincial government¡¯s efforts to integrate port resources, and intervention from the Rizhao municipal government. Eventually, Zhong Lun secured a favourable verdict for its client from the Rizhao Port Group side.

REGIONAL AWARDS

Best Overall Law Firms (Shanghai)

Boss & Young Attorneys at Law?has launched eight new practice groups, enhancing its service offerings to align with market trends and building on its existing 12 major practice groups. The firm achieved impressive results last year in areas such as anti-bribery, anti-corruption, IP, real estate, construction, infrastructure, and media and entertainment.

A multinational wine group has turned to Boss & Young for legal support, with its senior in-house counsel recommending three specialised teams: the commercial compliance team ¨C focused on unfair competition and anti-monopoly ¨C led by partner Zhang Shihai; the construction and engineering team, headed by partners?Lu Guofei?and Qin Rui; and the labour law team, led by partner Zhu Yi.

Hiways Law Firm?made headlines by handling several landmark cases, including obtaining the first exclusivity period under China¡¯s pharmaceutical patent linkage system for the first generic drug of Chia Tai Tianqing Pharmaceutical Group. The firm also represented Mattel in the first civil-criminal cross case of copyright infringement involving Barbie dolls in China.

Last year, Hiways received recognition from the Supreme People¡¯s Court for other IP cases, including partner Zhao Changqing¡¯s work on an invention patent infringement case, and partner Liu Nan¡¯s handling of a trade secret infringement case, both selected as part of the 100 exemplary cases for the Intellectual Property Division¡¯s fifth anniversary.

Llinks Law Offices?represented several notable emerging companies in non-litigation matters in the past year. The firm advised Hua Hong Semiconductor on its RMB21.2 billion (USD2.9 billion) debut on the Star Market of the SSE. The transaction was the largest A-share listing in 2023 and the third-largest Star Market IPO to date, behind Semiconductor Manufacturing International Corp and BeiGene.

In January this year, Llinks assisted battery manufacturer CATL in setting up a battery-swapping joint venture with the ride-hailing powerhouse, Didi. The strategy will build up more battery-swapping stations to promote the green transformation of the transport sector..

Zhou Daohang, vice president of strategy at EVAS Intelligence, commends the firm¡¯s partner Colin Shi and his team as ¡°conscientious, reliable, and professional¡±, adding: ¡°We are very relieved to have him as our partner lawyer.¡±

Han Kun Law Offices?is active in significant capital markets transactions within the electric vehicle sector. The firm acted as China data security law counsel to Chinese EV brand Zeekr¡¯s USD441 million listing on the NYSE, the biggest Chinese stock offering in the US in the past three years. In a high-profile deal initiated by NIO, a tri-listed EV company in the US, Hong Kong and Singapore, Han Kun provided mainland Chinese and Hong Kong law services for the company¡¯s issuance of USD1 billion of convertible preferred bonds, the largest refinancing of a Chinese stock in the US market in 2023.

Han Kun also acted as PRC counsel on Lotus Tech¡¯s Nasdaq listing via a special purpose acquisition company (SPAC) vehicle. Lotus Tech, the luxury electric vehicle brand under Geely Holdings, was valued at USD5.4 billion after its de-SPAC combination with an LVMH-backed shell company.

Jingtian & Gongcheng?has established a strong presence in handling cross-border projects. Last year, the Hong Kong-listed NetDragon separated its overseas education business and merged it with GEHI, an NYSE-listed company, to achieve a reverse takeover.?Jingtian & Gongcheng?acted as NetDragon¡¯s PRC counsel. The transaction took place after China¡¯s new overseas offering rules took effect in March 2023, and is of guiding significance for overseas listed companies seeking to divest their domestic business in China.

Jingtian & Gongcheng?also acted as lead counsel for the ACE funds, backed by China Three Gorges, in the sale of a 49% stake in wind projects across Italy, Poland and Portugal to the European energy company EDP Renov¨¢veis. The deal was valued at EUR570 million (USD625.9 million).

REGIONAL AWARDS

Best Overall Law Firms (Shenzhen)

China Commercial Law Firm?has garnered widespread recognition from various district governments, judicial bureaus, banks and enterprises in Shenzhen for its legal services. The firm provided specialised legal support for the establishment of the Jiuzhou Qihang Equity Investment Fund, which is backed by China Life and 10 other state-owned life insurance companies, boasting a management scale of RMB33.9 billion (USD4.79 billion). The fund stands out as a rare pure insurance capital investment vehicle in the Chinese market, significantly influencing the industry.

The firm also assisted several large enterprises in issuing corporate bonds, navigating substantial sums and complex procedures while ensuring compliance with the regulatory requirements of both the Shanghai and Shenzhen Stock Exchanges. In dispute resolution, the firm has successfully managed several major cases involving billions of renminbi.

SD & Partners?is engaged in land preparation and urban renewal, commanding over 50% of the market share in legal services for shantytown renovation projects in Shenzhen. The firm successfully managed the land preparation and benefit co-ordination project for the Nanlingcun community in Longgang district, which spans 250 hectares and involves the relocation of about 33,000 households across 38 neighbourhoods. The project serves as a model for resolving land ownership issues.

SD & Partners?also provided comprehensive legal services ¨C including due diligence, transaction structure design and document drafting ¨C for a red-chip company listed in the US that is acquiring more than 40 robotics sales and technology firms in China.

Global Law Office?participated in several high-profile transactions last year. The firm assisted Infore Group in acquiring A-share listed company Jason Furniture for RMB8.88 billion, setting a record for the largest equity transfer in the home furnishing industry in 2023.

In the acquisition of Road King Infrastructure¡¯s highway assets by China Merchants Expressway Network & Technology for more than RMB4.4 billion,?Global Law Office?provided due diligence, transaction document drafting and antitrust review services.

As legal adviser to SF Express, the firm also assisted in the sale of Fengwang Information Technology to J&T Express for RMB1.18 billion, a transaction that garnered significant attention in the courier industry.

Jingtian & Gongcheng?has assisted companies in the technology, pharmaceutical, modern agriculture and high-end food sectors in their listings in Hong Kong. Notably, Shenzhen Manst Technology, a company specialising in R&D and manufacturing for lithium-ion coating die heads, raised RMB2.3 billion in its IPO on the Shenzhen Stock Exchange. This achievement set a record for the highest fundraising in the electronic equipment and instruments sector in 2023, and positioned it among the top three in the A-share specialised equipment manufacturing industry.

Zeng Zhi, chairman and general manager of China Merchants Capital Management, praises?Jingtian & Gongcheng?as his company¡¯s ¡°preferred legal partner¡±, highlighting the firm¡¯s responsiveness, legal expertise and customised services. ¡°For those seeking high-quality legal support,?Jingtian & Gongcheng?is undoubtedly a trustworthy choice,¡± he says.

Zhong Lun Law Firm?successfully assisted biopharmaceutical company Kelun-Biotech in its listing on the main board of the Stock Exchange of Hong Kong. This project marks the first instance of an A-share listed company successfully spinning off a subsidiary for overseas listing under the China Securities Regulatory Commission¡¯s 2022 Provisions on the Spin-off of Listed Companies (Trial). Zhong Lun also helped Shenzhen Senior Technology Material become the first company in the domestic lithium battery separator industry to issue global depositary receipts and list on the SIX Swiss Exchange.

In litigation, the firm represented China CITIC Bank in a dispute over a pledge-style securities repurchase contract involving RMB10.8 billion. The defaulting party was the controlling shareholder of a listed company, with high-value real estate and stocks as collateral, making both the case and subsequent asset disposal particularly challenging.

REGIONAL AWARDS

Best Overall Law Firms (Xi¡¯an)

In 2023, Help Reaching Law Firm augmented its clientele by 468, underscoring its proficiency in managing intricate and high-stakes litigation. The firm played a pivotal role in a landmark national case concerning a railway prefabricated building dispute, setting a precedent for similar construction disputes across the nation. The valuation approach adopted in the case now stands as a critical benchmark for these disputes.

Help Reaching also assisted in handling asset acquisition and execution delay issues involving Sinopec Green Energy Geothermal Development and a district government over geothermal resource development. Faced with execution difficulties due to local government constraints, the firm promoted cross-jurisdictional handling of the case, froze fiscal funds, and ultimately brought about a settlement agreement.

Jiaxuan Law Firm, with more than 400 lawyers, has established a foreign affairs committee to assist numerous enterprises in domestic and international legal transactions and disputes. The firm played a key role in issuing the first Hong Kong-Macau dual-listed dim sum bond in western China.

The firm¡¯s lawyers have received high praise from various partners. Wu Xiao, general manager of the Xi¡¯an Institute of Applied Optics, a research institute affiliated with the Norinco Group, commends Han Xiaohong, a senior partner at Jiaxuan¡¯s Xi¡¯an office, for ¡°his strong professional abilities, particularly in handling complex legal matters with clarity and depth¡±. He also notes Han¡¯s ¡°ability to apply commercial thinking to effectively solve practical problems¡±.

Similarly, Yang Junhong, general manager of the Shaanxi Institute of Advanced Oeic Technologies, recommends senior partner Cao Peng, noting Cao¡¯s ¡°excellent understanding of the challenges in the entrepreneurial process and his ability to communicate and provide services using quality management system methods¡±.

Yong Jia Xin Law Firm provided legal counsel for the Weiyang University Town urban renewal project, one of Shaanxi¡¯s inaugural urban renewal pilot initiatives under new policy frameworks. Despite navigating a landscape of inconsistent regulations and policy uncertainties, the firm played a crucial role in advancing the project, which led to Weiyang University Town being designated as a key demonstration project in Xi¡¯an in 2023.

Yong Jia Xin also offered legal consultation for several critical aspects of the Laizhou Shaling gold mine project, including project initiation, land acquisition, procurement and financing. The project, earmarked as a national priority, will establish a world-class smart mine. The firm ensured the legal and compliant acquisition of the tailings pond and smooth implementation of the project, helping it set an Asian shaft depth record and pioneering a new standard for deep mining in China.

Tahota Law Firm?facilitated the successful signing of a development project between Shanxi Construction Investment Group and Habib Rafiq for the Ravi Urban Development Project, one of Pakistan¡¯s largest government-led urban development projects. This involved intensive international contract negotiations and complex legal due diligence.

The firm¡¯s representation in a service period breach penalty dispute involving Du and an airline was selected as one of the Top 10 Influential Labour Dispute Cases in Shaanxi province in 2023, with Du ultimately prevailing.

In a fraud dispute case involving an independent guarantee between Huashan International Engineering and China National Aero-technology International Engineering Corporation, Tahota successfully addressed complex international contract and guarantee legal issues, ensuring client rights. The case was rated as one of the top 10 financial trial cases by Xi¡¯an courts, providing significant legal guidance for similar international engineering contract disputes.

REGIONAL AWARDS

Best Overall Law Firms (Yunnan)

Baqian Law Firm, the first large-scale firm in Yunnan province with more than 100 practising lawyers, has a strong presence in the local legal market while extending its services to South and Southeast Asia. The firm has a specialised practice area in state-owned asset management, offering services beyond general corporate legal assistance.

These services include compliance and regulatory oversight for asset management, investment group control, risk prevention for executive crimes and dereliction of duty, and government debt management for state-owned investment and financing platforms. Leveraging its unique geographical advantage, the firm also provides cross-border legal services for international trade and investment, targeting Chinese enterprises expanding overseas.

Ling Yun Law Firm has established 18 branch offices in addition to its Kunming headquarters, covering Beijing and each prefecture or prefecture-level city within Yunnan province including Qujing, Yuxi, Baoshan, Xishuangbanna and Lincang.

Along with several other law firms, it co-founded the Pan-Mekong Law Firm in Myanmar, dedicated to serving Chinese investors in the country. With more than 470 practising lawyers, Ling Yun offers a full range of legal services with a particular focus on criminal defence, representing several high-profile cases nationwide.

Dacheng Law Offices?has provided comprehensive and specialised legal services for an initial strategic investment totalling RMB9 billion as part of the RMB20 billion China Life ? Yunnan State-owned Enterprise Reform and Development Equity Investment Plan (Phase One), the largest strategic co-operation between central and local enterprises in Yunnan province in the past two years.

In the finalisation of the supplementary agreement on the concession of Siem Reap-Angkor International Airport in Cambodia, Dacheng produced innovative solutions to resolve disputes, offering positive reference for Chinese overseas investments. The firm was also appointed by the Kunming municipal government as special legal counsel for the revision of the Yunnan Dianchi Lake Protection Regulations, which took effect on 1 January 2024.

SGLA Law Firm?pioneered the engagement of lawyers in key audit evaluations for enterprises regulated by the State-owned Assets Supervision and Administration Commission (SASAC) through its participation in a specialised legal service project for an enterprise regulated by the Kunming SASAC.

It also provides perennial legal consulting services for the Kunming Changshui International Airport reconstruction and extension project, supporting its development as an international aviation hub for South and Southeast Asia, as well as a modern comprehensive transportation hub in southwest China.

Another client receiving SGLA¡¯s perennial legal services is QuakeSafe Technologies, a high-tech enterprise specialising in comprehensive seismic isolation solutions for buildings and the only A-share listed company in this sector. Pan Yang, the company¡¯s in-house counsel, highly recommends Gao Jie¡¯s team at SGLA: ¡°[The team¡¯s] contributions have been instrumental in our decision making and legal risk prevention ¡­ Their strong arguments and rigorous reasoning are particularly impressive.¡±

REGIONAL AWARDS

Best Overall Law Firms (Zhejiang)

Brighteous Law Firm achieved a commendable performance in 2023. In the IP practice area, the firm represented a leading e-commerce network company in an unfair competition dispute against a ¡°one-click migration¡± software company. The case established the network platform¡¯s competitive rights over product data, significantly contributing to the maintenance of fair competition in the e-commerce market. The Higher People¡¯s Court of Zhejiang Province selected it as one of the top 10 intellectual property cases in 2023.

In the practice area of international legal services, Brighteous advised on a USD500 million cross-border financing project spanning five countries and six jurisdictions. This case, along with an international maritime transport insurance contract dispute handled by the firm, was recognised as an Outstanding Case of International Legal Services in Zhejiang province.

L&H Law Firm assisted in the listing of Haosheng Electronics, a labour-intensive enterprise, on the Beijing Stock Exchange. The firm also advised on the investment of Jiaxing Xiuzhou¡¯s government guidance fund in Ximalaya, China¡¯s leading audio-sharing platform, via a pioneering transaction structure. As of October 2023, Ximalaya had generated more than RMB100 million in revenue in Xiuzhou district, making the investment scheme a role model for fund-driven investment in the area.

Zhou Zhibin, R&D Director of Zhejiang Kuangdi Industry and Trade, says, ¡°The intellectual property team at L&H ¡­ always prioritises our interests and works to maximise our commercial benefits.¡±

T&C Law Firm assisted in the removal of Zhejiang Perfect New Material from the Military End User list by the US Department of Commerce¡¯s Bureau of Industry and Security, making the company the second entity to be delisted through proactive application. This achievement is one of the few successful cases in recent years in which a Chinese law firm has managed to ensure the removal of a company from this list.

T&C also advised Hongshi Group on the acquisition of shares of Asia Silicon (Qinghai) held by the overseas company, Asia Silicon. The transaction was valued at more than RMB11 billion, marking one of the largest M&A deals by a Chinese company in the green energy sector in recent years. The firm also assisted Neoglory Group in its restructuring, the largest among private enterprises in China to date, and it represented Schneider Electric in a trademark infringement and unfair competition dispute that was recognised as a major case by the Higher People¡¯s Court of Zhejiang Province.

Commerce & Finance Law Offices?made notable achievements last year. As Chinese legal counsel to the underwriters, the firm advised Zhejiang Expressway on its additional domestic and H-shares listing that raised about RMB6.15 billion. This was the largest equity financing for a Hong Kong-listed expressway company to date.

The share placement was the first refinancing project in the expressway sector to simultaneously issue domestic and H shares, as well as the first successful simultaneous domestic and overseas refinancing for a non-financial Hong Kong-listed company under China¡¯s new registration-based system.

The firm also acted as PRC legal adviser for the China listed LED manufacturer Inventronics¡¯ acquisition of OSRAM¡¯s non-equity assets, facilitating the first major cross-border asset restructuring by a Growth Enterprise Market-listed company since 2021. The firm also assisted REPT BATTERO, an electric vehicle battery manufacturer, in its main board listing on the Stock Exchange of Hong Kong, raising about HKD2.12 billion (USD273 million) and making it one of the top five IPOs in Hong Kong¡¯s capital market in 2023.

Jingtian & Gongcheng?has excelled in the practice area of capital markets. The firm assisted Shandong Gold in acquiring a controlling stake in Yintai Gold for RMB13 billion at a premium rate of about 48%. The deal was the first acquisition of an A-share listed company by another A-share listed company in the gold sector, as well as the largest merger in the A-share gold sector.

The firm also advised on the RMB3.8 billion series A funding for Anhui Yangtze Advanced Semiconductor Company, the largest private equity funding in China¡¯s third-generation semiconductor sector. Following its involvement in Leapmotor¡¯s 2022 Hong Kong IPO, it again supported Leapmotor last year in issuing equity to Stellantis for financing and provided counsel for the establishment of a strategic joint venture between the two. More than HKD8.5 billion was raised for Leapmotor.