The so-called Capital Economic Circle and an abundance of resources are the economic engines of Northern China, and the development of the Xiong’an New Area has raised expectations for the region. Often overshadowed by Beijing offices, law firms in Tianjin, Hebei, Shanxi and Inner Mongolia are struggling to find their moment in the sun. Sha Miao reports
Northern China, comprising Beijing, Tianjin, Hebei, Shanxi and Inner Mongolia, is not only the country’s political hub, but also a major economic centre with rich resources.
The Outline Plan of Beijing-Tianjin-Hebei Integrated Development, released in 2015, aims to establish a Capital Economic Circle – using capital as the centre of economic development in the region – by relocating non-essential government functions from Beijing to neighbouring locations.
While the region’s economy is poised for exponential growth on the back of the plan, the regional firms in neighbouring cities face intense competition from their well-established Beijing counterparts.
“The Hebei legal market has become increasingly competitive due to its proximity to Beijing,” says Zhang Li, the managing partner of JiHua Law Firm in Shijiazhuang, Hebei province.