The annual China Business Law Awards has shone a light on the real achievers of 2015, as voted by law firms and clients alike. Leo Long showcases the winners
The beginning of the Year of the Monkey has been overshadowed by concern among the major economies since the central government announced its latest GDP growth rate of 6.9%, the lowest in 25 years. It’s not a surprise. Observers expect the volatile global economy to be susceptible to the Middle Kingdom’s slowed growth, or what has been dubbed the “New Normal”.
Chinese companies have seemed too busy to worry about any downturns in the past year, riding a tide of deals that followed globe-trotting President Xi Jinping, who most recently visited the Middle East, a hotspot for Chinese construction and trade.
In 2015, the slogan “go global” invited Chinese enterprises to explore markets abroad in greater numbers. Fosun was one of the most high-profile players. The company acquired a majority stake in ESS, one of the biggest private healthcare groups in Portugal, and also took over ROC Oil, a leading independent upstream oil and gas company in Australia.