ESTABLISHED IN 1992
Managing Partner: Wu Gang, Kong Xin, Andrew Zhang
Number of partners: 150+
Number of associates: 650+
Firm Overview
Most firms provide legal advice, we deliver business advice.
We are a leading law firm in China, enhancing our presence in China and extending our global reach. We have offices in major economically active areas in China, including nine offices in Beijing, Shenzhen, Shanghai, Hong Kong, Chengdu, Hangzhou, Wuhan, Haikou and Suzhou, and more than 800 legal professionals. Our lawyers have profound professional knowledge, rich practice experience, and forward-looking business thinking, and are committed to providing efficient, accurate, and innovative business solutions.
In more than three decades of development, we have established a remarkable reputation in capital markets, mergers and acquisitions, private equity, dispute resolution, banking and finance, new economy, anti-monopoly and competition, investment funds, restructuring and bankruptcy, supervision, labour, wealth management, real estate and construction, intellectual property, and other fields. Over the years, we have won hundreds of awards from mainstream professional media/associations at home and abroad, and have been on various international appraisal lists. We have received numerous praises in terms of industry influence, market reputation, and client recognition.
Whether designing a new legal framework or setting a new precedent, we have created a number of major projects with wide market influence and adapted to the needs of the times, better served the national strategy, and provided clients with in-depth services across regions, jurisdictions, and the whole industry chain. At the same time, we also have profound insights into the future. By pooling legal service resources, we can explore growth opportunities for clients in diversified exploration, and continue to facilitate the development of the Chinese economy and Chinese enterprises.
Key Practice Areas
Domestic capital markets; Overseas capital markets; Litigation; Arbitration; Banking and finance; Mergers and acquisitions; Private equity; Investment funds; Outbound investment; Foreign direct investment; Intellectual property; Compliance and government regulation; Cybersecurity and data protection; New economy; Healthcare; Real estate and construction; Insolvency and restructuring; Antitrust and competition; International trade/WTO; Labour and employment; Securities compliance; Administrative and criminal action; Taxation and wealth planning.
Independent intelligence on this law firm
The following information is sourced directly from China Business Law Journal and/or Law.asia and is not part of the directory listing provided by the law firm.
Testimonials
The legal director of the investment banking department of a leading international investment bank praised Commerce & Finance, saying “the firm’s capability and track record is unquestionable”.
China Business Law Awards 2022
The anonymous referrer said: “Commerce & Finance Law Offices is exactly the law firm we need to further co-operate with, since it has provided us with outstanding legal services.”
China Business Law Awards 2022
Liu Yi Man, executive director and CEO of Edvantage Group, said: “[The transaction] was pressed for time, but Sun and his team proved their professionalism in resolving issues with the HKEX and SFC [Securities and Futures Commission].”
China Business Law Awards 2022
The project manager of a bank was very satisfied with the service provided by the law firm: “Commerce & Finance has assigned experienced, qualified and sufficient lawyers to fully engage in the project. The team provided high quality and efficient professional services to the company in various aspects, including due diligence, revision of corporate governance documents, meeting support, assistance to the authorities and the exchange in filings and feedback, in strict accordance with the requirements of relevant laws and regulations, with reference to market practices, and taking into account the actual situation of our company.” He also recommends Hou Qinghai, a Beijing-based partner of Commerce & Finance.
China Business Law Awards 2021
An in-house counsel of a joint venture, formed by a foreign investment and a financial group backed by the Chinese government, comments: “[Commerce & Finance] has demonstrated its professionalism and dedication in providing advice and services on compliance in specialised areas. Their feedback on relevant issues was timely and the operational recommendations made were practically feasible.” He also recommends Li Amin, a Shanghai-based partner of Commerce & Finance.
China Business Law Awards 2021
Helen Feng, CEO of ai-finance, says, “[Commerce & Finance’s team] is very familiar with the fintech sector and has been very responsible during the process. They are experienced in balancing the interests between state-owned and private parties and risk controls. They have proposed innovative solutions to solve problems and hastened the establishment of the joint venture.”
China Business Law Awards 2021
Xu Weijian, finance director of Lixiang Education, also highly praises the firm: “The Commerce & Finance team has been with us for three years. It is able to see the core of the issues and give professional advice in a timely and precise manner, and the company is very much appreciative of the team’s capabilities and its sense of service.” Xu recommends Wu Peng, a Beijing-based partner at Commerce & Finance.
China Business Law Awards 2021
Darren Wu, the legal director of Fibocom Wireless, recommends Guo Xiaoming, a partner of Commerce & Finance in Shenzhen: “[Guo Xiaoming] is modest, low key and pragmatic, with the elegance of a barrister. He continues to conduct forward-looking legal research in the areas of export control compliance, dispute resolution and intellectual property, leading the industry’s development and progress.”
China Business Law Awards 2021
A client in the biotech industry recommended Commerce & Finance’s Zhang Xiaoman, saying, “Every time we inquired about an issue, Mr Zhang responded patiently in a prompt manner, providing us with a great deal of support in terms of laws and regulations.”
China Business Law Awards 2019
Notable Deals
Recognised by China Business Law Journal as Deals of the Year
Project | Year | Money | Section | Category |
---|---|---|---|---|
ByteDance’s USD1.5bn acquisition of Amcare Healthcare | 2022 | USD1.5 billion | Domestic | M&A; healthcare |
LianBio offers shares on Nasdaq | 2022 | USD325 million | Capital Markets | US listing; biotechnology |
MheA of Longyuan Power and Pingzhuang Energy | 2022 | RMB10 billion | Domestic | M&A; energy |
NIO’s listing by introduction in HK, Singapore | 2022 | N/A | Capital Markets | Hong Kong listing; Singapore listing; listing by way of introduction |
Redco’s tender offer and consent solicitations | 2022 | N/A | Cross-border | Debt restructuring; real estate |
Shanghai Airport, Eastern Air Logistics JV | 2022 | N/A | Domestic | Joint venture; logistics services |
Bilibili’s secondary Hong Kong listing | 2021 | USD2.5 billion | Capital Markets | Hong Kong listing; internet |
Cosco Shipping Development’s asset restructuring | 2021 | RMB3.4 billion | Cross-border | Asset restructuring; supply chain finance |
>Energy China merges with Gezhouba | 2021 | N/A | Domestic | M&A |
Kangmei Pharma’s fraud liability dispute | 2021 | RMB2.46 billion | Disputes & Investigations | Capital markets; litigation |
Kuaishou Technology’s USD5.4bn Hong Kong IPO | 2021 | USD5.4 billion | Capital Markets | Hong Kong IPO; technology |
New Tianjin Steel’s mixed-ownership reforms | 2021 | RMB20 billion | Domestic | Bankruptcy restructuring; steel |
Reorganisation of Bestway Marine | 2021 | RMB1 billion | Domestic | Bankruptcy restructuring; maritime |
Trip.com lists in Hong Kong | 2021 | USD1 billion | Capital Markets | Hong Kong listing; travel |
Weichai’s acquisition of Lovol Heavy | 2021 | RMB985 million | Domestic | M&A |
China Bohai Bank’s Hong Kong Listing | 2020 | USD1.77 billion | Overseas Deals | Hong Kong listing; banking |
Nuclear company acquires Tsinghua Tongfang | 2020 | RMB6.4 billion | Deals in China | Acquisition |
Trip.com Group issues exchangeable bonds | 2020 | USD500 million | Overseas Deals | Exchangeable bonds issue |
WIMI’s US public offerings | 2020 | USD26.1 million | Overseas Deals | Nasdaq listing |
Yum China’s HK secondary listing | 2020 | HKD17 billion | Overseas Deals | IPO |
Bohai Steel Group’s reorganization | 2019 | N/A | Deals in China | Reorganization; steel industry |
Canaan Technology’s Nasdaq listing | 2019 | USD400 million | Overseas Deals | US listing |
CanSino Biologics’ HK listing | 2019 | HKD1.2 billion | Overseas Deals | Hong Kong IPO; pharmaceutical |
CMGE’s Hong Kong listing | 2019 | HKD1.31 billion | Overseas Deals | Hong Kong IPO; games |
GIC acquires JD logistics warehouses | 2019 | RMB10.9 billion | Deals in China | Acquisition |
Jinxin Fertility Group’s HK IPO | 2019 | HKD3.05 billion | Overseas Deals | Hong Kong IPO; healthcare |
Kingsoft’s A-share listing on Star board | 2019 | RMB4.63 billion | Deals in China | SSE STAR listing |
Wanda Sports Group’s listing on Nasdaq | 2019 | USD190 million | Overseas Deals | US listing; sports industry |
Ascletis Pharma’s Hong Kong IPO | 2018 | N/A | Overseas Deals | Hong Kong listing; Pharmaceuticals |
China Tower’s Hong Kong IPO | 2018 | HKD54.3 billion | Overseas Deals | Hong Kong IPO; Telecommunications |
COSCO Shipping Holdings and Shanghai International Port jointly acquire Orient Overseas (International) | 2018 | HKD49.2 billion | Overseas Deals | Overseas M&A; Shipping |
Innovent Biologics’ Hong Kong IPO | 2018 | HKD3.156 billion | Overseas Deals | Hong Kong listing; Biopharmaceuticals |
Qihoo 360 Technology’s A-share backdoor listing | 2018 | N/A | Deals in China | PRC capital market |
CEXIM sets up overseas EFP programme | 2017 | EUR550 million +USD300million | Overseas Deals | Debt capital market; Overseas financing |
China Resources Healthcare acquires Phoenix Healthcare | 2017 | N/A | Deals in China | Healthcare; M&A |
China Unicom's mixed-ownership reform | 2017 | N/A | Deals in China | SOE reform; Telecom |
Kaisa Group'exchange offer and new issuance | 2017 | N/A | Overseas Deals | Debt capital market; Real estate |
Maoyan Media and Weiying Technology strategic partnership transactions | 2017 | RMB13.6 billion | Deals in China | M&A; Internet |
State Grid issues USD7.7 billion medium term note | 2017 | USD7.7 billion | Overseas Deals | Overseas debt capital market |
BTG Hotels'srestructuring and acquisition of Home Inns Group | 2016 | N/A | Deals in China | Asset restructuring; hotel industry; privatization |
Qihoo 360 Technology goes private | 2016 | USD9.3 billion | Overseas Deals | Private equity; privatization; TMT |
Top Spring issues convertible bonds | 2016 | N/A | Overseas Deals | Convertible bonds |
Cheung Kong and Hutchison’s reorganization, spin-off and listing | 2015 | USD54.2 billion | Restructuring | Restructuring |
China Tower acquires tower assets of three telecom companies | 2015 | N/A | Deals in China | M&A |
CSR and CNR’s merger | 2015 | USD26 billion | Deals in China | M&A |
Harmonicare Medical’s Hong Kong IPO | 2015 | USD205 million | Overseas Deals | Equity capital market |
Dongfeng Motor’s equity investment in PSA Peugeot Citroen Group | 2014 | USD2 billion | Overseas Deals | M&A |
Greenland’s bond offering | 2014 | USD1 billion | Debt capital market | Debt capital market |
JD.com Inc’s IPO on NASDAQ | 2014 | USD2.05 billion | Overseas Deals | Equity capital market |
Qihoo 360 Technology’s offering | 2014 | USD900 million | Debt capital market | Debt capital market |
WH Group’s HK IPO | 2014 | USD2.36 billion | Overseas Deals | Equity capital market |
Beijing Capital Land’s issuance of guaranteed bonds | 2013 | USD327 million | Debt capital market | Debt capital market |
China Galaxy Securities’ Hong Kong IPO | 2013 | USD1.1 billion | Overseas Deals | Equity capital market |
China Vanke’s set-up of guaranteed medium-term note programme | 2013 | USD2 billion | Debt capital market | Debt capital market |
CIMC’s landmark B-share to H-share listing | 2013 | USD1.8 billion | Overseas Deals | Equity capital market |
COSCO Hong Kong’s indirect acquisition of a 21.8% stake in CIMC | 2013 | USD1.2 billion | Deals in China | M&A |
Forgame’s Hong Kong IPO | 2013 | USD206.4 million | Overseas Deals | Equity capital market |
Sinopec’s private H-share placement | 2013 | USD3.1 billion | Overseas Deals | Equity capital market |
Chow Tai Fook lists in Hong Kong | 2012 | USD2 billion | Overseas Deals | equity |
New China Life Insurance lists in Hong Kong | 2012 | USD1.9 billion | Overseas Deals | equity |
Shuanghui's general offer | 2012 | USD2.5 billion | Deals in China | M&A |
Hui Xian REIT IPO (Hong Kong) | 2011 | RMB10.5 billion | Overseas Deals | IPO |
Intime Department Store bond | 2011 | RMB1 billion | Bonds | Bonds |
China Eastern Airlines-Shanghai Airlines merger | 2010 | RMB9 billion | Deals in China | M&A |
China Merchants Bank rights offering | 2010 | USD3.2 billion | Overseas Deals | Capital markets;listings |
China Minmetals acquisition of Hunan Nonferrous stake | 2010 | RMB6 billion | Deals in China | M&A |
China XD Electric IPO | 2010 | RMB10 billion | Deals in China | IPO |
Ningbo Port IPO | 2010 | RMB7.4 billion | Deals in China | IPO |
Sunac China Holdings Rule 144A offering | 2010 | HKD2.6 billion | Overseas Deals | Capital markets;listings |
Contact us
Beijing Head Office
12-15th Floor, China World Office 2
No. 1 Jianguomenwai Avenue
Beijing 100004, China
Telephone: +86 10 6563 7181
Email: beijing@tongshang.com
Shanghai
10/F, Tower 1, Jing An Kerry Center
1515 West Nanjing Road
Shanghai 200040, China
Telephone: +86 21 6019 2600
Email: shanghai@tongshang.com
Shenzhen
23/F, Building A, CASC Plaza
No. 168 Haide 3rd Road, Nanshan District
Shenzhen 518067, China
Telephone: +86 755 8351 7570
Email: shenzhen@tongshang.com
Chengdu
33/F, Building B, Twin Rivers International
No.535 Tianfu 1st Street, High-tech District
Chengdu 610000, China
Telephone: +86 28 6753 5588
Email: chengdu@tongshang.com
Hangzhou
12/F, Zhongtian Guokai Building
69 Chengxing Road, Qianjiang CBD
Shangcheng District, Hangzhou 310020, China
Telephone: +86 571 8829 8760
Email: hangzhou@tongshang.com
Wuhan
27/F, Pingan Finance Centre
No.1628 Zhongshan Avenue
Jiang’an District, Wuhan 430010, China
Telephone: +86 27 8288 3835
Email: wuhants@tongshang.com
Haikou
Room 2102, Windows to Global Trade
No. 15A, Guoxing Avenue, Meilan District
Haikou, 570203, China
Telephone: +86 898 6535 4225
Email: haikou@tongshang.com
Suzhou
Room 1801-1802, Block D, Suzhou Center
Suzhou Industrial Park, China
Telephone: +86 512 6591 1800
Email: suzhou@tongshang.com
Hong Kong
Room 3401, 34/F, Alexandra House
18 Chater Road, Central, Hong Kong, China
Telephone: +852 2151 5150
Email: hongkong@tongshang.com
Website
www.tongshang.com