Firms pull out of Beijing, HK

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Stephenson Harwood and Vinson & Elkins recently announced the closures of their Beijing offices.

Stephenson Harwood closed partly due to its Asia strategic plan, and a shifting of its focus towards Hong Kong. The closure leaves the firm with offices in Hong Kong, Shanghai, and an associated office in Guangzhou.

Vinson & Elkins will close its Beijing office by year’s end, and is also reviewing its plans for the Hong Kong office, which is now open by appointment only.

The firm’s business in China is mainly focused on the energy sector, and the closure may be due to a sharp drop in oil and gas prices in Asia. Vinson & Elkins was one of the first US firms to open in Beijing, in 1997.

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