China Business Law Journal’s editorial team presents lawyers from Chinese and international law firms who in the past year proved instrumental in driving market-shaping deals, projects and cases across myriad sectors. Kevin Cheng reports
ACCESS THE A-LIST 2024-25: GROWTH DRIVERS
The saying goes: What doesn’t kill you makes you stronger. A law may require feedback from judicial practice before a revised version can better address real-life scenarios; a business venture may cost more than expected before a few well-timed deals turn things around; and a partnership may encounter disputes before finding a more equitable path for further co-operation.
This dynamic setting has underscored the legal profession’s pivotal role in providing essential support. More than masters of legal affairs, lawyers are combining their expertise with keen business acumen, devising tailored and innovative solutions that empower enterprises to steer through complexities and capitalise on emerging opportunities.
However, the prospect of improved fortunes later on does not diminish the difficulty of weathering the initial storm. Survival is by no means guaranteed, and certainly not without timely professional help.
This is where outstanding lawyers, such as our Growth Drivers, come in – proving themselves time and again to be instrumental in navigating complex listings, investments, acquisitions, restructurings and disputes. Some serve as perennial legal counsel to companies whose trust they have long earned, while others are engaged at critical moments to help companies recover from dire situations.
In 2024, China Business Law Journal continues its tradition of identifying the most recommended private practice lawyers in China’s legal market through extensive market surveys. Similar to last year, The A-List consists of three categories: Visionaries, Growth Drivers, and Rising Stars. For our Visionaries report and the full list of winners, please refer to volume 15, issue 9 of China Business Law Journal, or visit our website and social media platforms. The Rising Stars list will also be announced soon.
This article focuses on the Growth Drivers, whose expertise varies widely, ranging from capital markets, outbound investment, intellectual property (IP), environmental, social and governance (ESG), and dispute resolution to white-collar crime. Yet, if there is one thing this talented group has in common, it is their unwavering presence when clients need them the most.
Methodology
To identify the most esteemed lawyers in the market, we invited corporate counsel and executives from Chinese and global businesses, partners from Chinese and international law firms, and legal experts across diverse industries to nominate their lawyers of choice.
All lawyers engaged in private practice and China-related business were eligible to be nominated. In the principle of neutrality, as always, lawyers were not allowed to nominate themselves or colleagues practising at the same firm.
The market response was overwhelming, with thousands of nominations received. We subsequently notified eligible nominees, inviting them to submit details of major transactions they led and other notable achievements in the past 12 months.
The final selection is based on market nominations, candidate submissions and independent editorial research. Notably, the entire evaluation process is free of charge, from nomination to final selection.
In the following sections, we take a closer look at some of the standout comments and words of praise that our survey respondents, representing myriad industries, have reserved for our Growth Drivers. While it would be impossible to include them all, the highlights provide a glimpse into the exceptional contributions of these legal professionals.
We extend our sincere gratitude to everyone who participated in our surveys and offer our heartfelt congratulations to the winners.
Internet
China’s internet ecosystem is renowned for its massive user base – boasting 1.09 billion internet users and counting, according to the China Internet Network Information Centre (CNNIC) – and its rapid technological advancements. However, even in this thriving landscape, challenges arise.
Li Hong, the head of legal for Baidu’s intelligent driving group, observes that “the investment and financing market has undergone rapid changes in the past two years, becoming increasingly complex”. He notes that “several of the company’s spin-off financing projects involved particularly complicated processes, requiring the assistance of lawyers with greater professional expertise and market experience”.
For this, he turned to Gloria Xu, a Beijing-based partner at Han Kun Law Offices. “Commercial transaction lawyers not only need professional depth but also require comprehensive knowledge in areas such as IP, litigation and fund operations,” he says. “[Xu] provided all-round support for our projects and is a lawyer we trust and highly value.”
Likewise, Xu supported Douyin Group with two parallel investment projects, which, according to Li Rui, head of PRC investment and M&A legal affairs, had complex backgrounds and involved the setting up of intricate deal structures. “Xu’s sophisticated negotiation skills and accurate understanding of commercial demands make her team one of our top choices for complex transactions,” he says.
Zhang Xi, senior legal counsel at Microsoft China, sees Chen Wei, a Beijing-based partner at JunHe, as “epitomising legal professionalism” and “a leading expert” in the field of information technology and information infrastructure.
“[Her] expertise, combined with an ability to deliver tailored solutions, ensures that we receive guidance that is both strategic and practical,” she says.
Calvin Jiang, chief financial officer of Castbox, a podcast company founded in Beijing and headquartered in San Francisco, has for nearly a decade sought the counsel of Richard Chang, a Beijing-based partner at Gunderson Dettmer.
“Richard often points out issues and risks that I myself may not have thought of, and will almost always provide the best solution for our situation,” says Jiang, further praising Chang for his ability to consistently “be present when the client needs him the most”, which, he says, sets him apart from other excellent lawyers.
Technology
Ray Liu, global partner and managing partner at the Beijing office of Dorsey, is renowned as an expert in US-related legal issues and disputes, which are increasingly in high demand from the tech sector.
He advised Firefly Dimension, a Suzhou-based developer of mixed reality AR headsets, on multiple litigation and regulatory matters, earning the admiration of Shao Peng, the company’s chief technology officer.
“[Liu] can explain Chinese laws and the concerns or demands of Chinese clients to his American colleagues, while also clarifying complex US legal issues in a manner that we can understand,” he says.
Danica Wang, general counsel at Alluxio, a high-performance data platform provider based in Beijing, likewise commends Liu for his “exceptional ability to empathise with his clients” and his “swift action to provide relief to those in dire situations”.
Wang adds: “Kudos to Ray for always putting clients first and ensuring their voices are heard with clarity and vigour.”
Lindsay Gao, head of the Hong Kong office of Merits & Tree Law Offices, has provided vital legal support to ThingX Technologies, a consumer tech company specialising in smart health AI hardware, during its early startup phase.
According to Xing Guoliang, the company’s co-founder and chief scientist, Gao and her team assisted in drafting the shareholders’ agreement and articles of association, while also playing a key role in designing the equity structure, ESOP plan and angel round financing.
“In critical projects such as financing and equity restructuring, [Gao] provided impeccable legal services,” he says. “We have complete trust in her.”
Wangsu Science & Technology, a provider of content delivery network (CDN) and internet data centre (IDC) services, once faced challenges in cross-border transactions due to communication barriers with overseas lawyers, which stalled the negotiation of commercial terms. Lyon Dong, a Shanghai-based equity partner at Grandall Law Firm, stepped in to resolve the urgent situation.
“[Dong] intervened during the lowest point of the negotiation, swiftly clarifying the relationships between various transaction documents and identifying the key disputed clauses,” says Liu Kaifeng, the company’s investment director. “He acted as a bridge and link between the company, overseas lawyers, investment banks and the buyer’s advisers, revitalising the entire process.”
Property and infrastructure
Catherine Zhou, CFO of Times China, credits Carrie Li, a partner at the Hong Kong office of Sidley Austin, for assisting the company in recovering from the market downturn. “During her long-term co-operation with the company, she helped it build up its business while controlling risks within our risk appetite,” says Zhou.
Similarly, Simon Poon, vice president of Redco Properties, values Li’s support during critical moments. “Carrie devised a unique restructuring plan that involved converting company debt into long-term bonds with lower interest rates, which was a first in the industry, thereby setting a precedent for future cases,” he says.
Yang Guodong, legal director of Qingyue Technology, a smart home R&D enterprise, holds Li Zhao, a partner at Commerce & Finance Law Offices’ Beijing headquarters, in high regard – particularly for his ability to pinpoint key points of contention in complex and lengthy commercial matters.
“[Li Zhao’s] professional advice and solutions not only help clients mitigate legal risks but also provide a solid legal foundation for the long-term development of the company,” he says.
Deng Zhe, a senior partner at Guantao Law Firm’s Shanghai office, is regarded as an expert in resolving complex and challenging disputes by Becky Zeng, senior legal director at Suofeiya Home Collection. She says that Deng not only boasts an exceptionally high win rate but also has a remarkable ability to turn the tide in unfavourable cases.
“Based on research, while the reversal rate in second-instance courts nationwide generally falls below 5%, Deng’s appeal success rate exceeds 60%, in many cases achieving reversals in spite of highly disadvantageous evidence and circumstances,” says Zeng. “[This] demonstrates his mature and steady approach, exceptional litigation strategy design, case assessment skills and courtroom mastery.”
China Railway Shanhaiguan Bridge Group, a contractor for the Hong Kong-Zhuhai-Macau Bridge, found itself embroiled in a construction quality dispute when paint cracks appeared in certain sections of this landmark project. Shao Tianji, party secretary of the group’s technology centre, recalls that at a critical juncture, Guo Haiying, a Shenzhen-based senior partner at Guanghe Law Firm, guided the group in evidence collection and led compensation negotiations with the paint supplier. Ultimately, the supplier paid four times the original contract amount to repair the cracks.
“Guo’s professionalism and sense of responsibility have set an example for the entire industry,” says Shao.
Finance
Gilman Siu, head of M&A and managing director at CCB International Capital, has collaborated with Alexander Que, a Hong Kong-based partner at Deacons, on numerous transactions and commends him for his in-depth knowledge of M&A rules and regulations, as well as his responsiveness and ability to simplify legal concepts for clients. “It is very important to work with a lawyer who can understand and assess the strategic fronts and provide advice that takes into account the overall transaction dynamics,” he says. “I am quite impressed with what Alex has done, and continues to do, for the various transactions we are working on.”
In some cases, a lawyer’s expertise in a particular practice area can be inferred from their activities outside of law firms, such as legislative work. Ian Wang, a Beijing-based partner at DeHeng Law Offices, has contributed to policy research and drafting for landmark regulations, including the Measures on Outbound Data Transfer Security Assessment and the Measures on Outbound Personal Information Transfer Standard Contractual Clauses, among others.
Huang Xu, legal director of Snowball, a social network and information portal for investors in China, says: “[This] provides him with a unique position to advise clients on compliance with those regulations, as he understands the requirements inside and out.”
Zheng Lei, executive director and CEO of Harmonia Capital, once engaged Li Haibo, a senior partner at Landing Law Offices’ Shanghai head office, to handle a dispute over a guarantee deed. Li successfully argued, based on the timing of the deed’s signing and the specifics of the financing deal, that the plaintiff had failed to assert their rights within the guarantee period – a defence ultimately upheld by the court.
“Li Haibo provided me with outstanding legal representation through his exceptional expertise, innovative litigation strategies, efficient cross-border collaboration skills, and strong sense of responsibility,” says Zheng.
Other Growth Drivers
Kevin Chen, head of global assurance at AstraZeneca, praises the professionalism and strategic foresight of Jacky Li, a Shanghai-based partner at Global Law Office. “Li’s solid legal expertise allows us to rely on his judgement and advice at every critical moment,” he says. “Jacky Li is not just a service provider but a trusted business partner.”
Li is a go-to counsel in the life sciences sector, having also earned the confidence of industry leaders such as Zeiss, Beigene and Fosun Pharma.
Jiang Guanghui, a Beijing-based senior partner at Kangda Law Firm, has been a long-term legal partner of Hunan Warrant Pharmaceutical. Jiang has provided legal services for the company’s IPO, subsequent convertible bond issuance, and the construction of its high-end formulation R&D and manufacturing base.
Qiao Qiao, the company’s securities affairs representative, highlights Jiang’s ability to not only respond swiftly to various legal issues arising during projects but also proactively identify potential legal risks and offer practical solutions. “This high level of professionalism and sense of responsibility gives us great confidence as we advance our projects,” he says.
Top Resource Energy recently engaged Huang Xingchao, a partner at AnJie Broad’s Beijing office, to handle a contractual dispute with SHD New Materials. Jia Huijun, general manager of the legal and compliance department, commends Huang and his team for their precision in identifying the core issues of the case and their meticulous handling of complex matters such as breach of contract liabilities and damage calculations.
Lin Xianwei, senior director of legal and compliance at Desay SV, a provider of integrated automotive electronics solutions, praises Liu Yinhong, director of the Shenzhen office of Jincheng Tongda & Neal, for demonstrating exceptional expertise and professionalism in handling complex legal matters.
“His rigorous approach to work and deep understanding of client needs consistently exceed expectations,” Lin says.
Li Weihua, a Shanghai-based partner at Dacheng Law Offices, has provided IP legal services to Duravit’s German headquarters and its China subsidiary, including recently resolving a decades-long trademark squatting issue. Li successfully helped Duravit gain the upper hand in both legal and negotiation strategies, ultimately compelling the opposing party to transfer all seven core trademarks they had squatted on at just 25% of the original asking price.
“We have fully launched our new branding initiatives, and the successful resolution of this matter is of milestone significance for our further expansion in the Chinese market,” says Eric Wang, head of marketing and ecommerce of Duravit China.
Thomas Zhao, vice president of SKF, recommends Rao Yao, the Shanghai-based managing partner of HHP Attorneys-At-Law, for his leadership, legal expertise and strategic insights that consistently add value to the company.
Zhao highlights a recent multi-jurisdictional project involving complex compliance and cybersecurity matters, where Rao ensured the project not only met regulatory requirements but also aligned with the company’s business objectives.
“[Rao’s] ability to foresee potential legal challenges and his expertise in crafting innovative, pragmatic solutions have played a key role in successfully resolving several high-stakes matters,” says Zhao.
Pierre Lee, general manager of the legal & insurance department of Seatrans Solutions, describes Edward Liu, a partner at the Hong Kong office of Haiwen & Partners, as a first-rate lawyer who consistently adds incredible value to his clients.
“Edward possesses an unparalleled depth of expertise in shipping law, which goes beyond theoretical knowledge to encompass the practical realities of the industry,” says Lee.
The sentiment is echoed by Zheng Biao, general manager of the legal department at Cosco Shipping (Hong Kong), who adds that Liu’s intimate understanding of the Chinese market is a significant asset.
“Importantly, we do not feel any hesitation when reaching out to him with questions, a contrast to experiences with some other firms,” says Zheng. “This openness fosters a trusting relationship, encouraging clients to communicate freely and seek guidance without reservation.”
