Reed Smith has confirmed its exit from Beijing, which marks the eighth international law firm this year to downsize or cease operations in China, leaving its Asian presence only in Shanghai, Hong Kong and Singapore.
“We have chosen to consolidate our resources in our Shanghai office, fostering stronger synergy with our offices in Hong Kong and Singapore,” a Reed Smith spokesperson told China Business Law Journal.
However, the firm has not provided a specific timeline for the closure.
The Beijing office, as listed on the firm’s website, currently has seven lawyers, including managing partner Eric Lin and partner Barbara Li. Some lawyers will relocate to the Shanghai office.
Reed Smith’s departure is merely the latest firm joining the trend of withdrawals. Weil has recently closed its operations in Shanghai and Beijing, effectively exiting the mainland China market. Dechert also shuttered its Hong Kong office and completely withdrew from China.
Other international law firms among the wave of departures are Eversheds Sutherland, Morrison Foerster, Sidley Austin, Orrick and Perkins Coie.
Reed Smith ventured into the Chinese market in 2008 with the establishment of offices in Hong Kong and Beijing, and tapped into Shanghai three years later. Presently, the Hong Kong office with 90 lawyers is the largest among the Asian branches.
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