Following an extensive survey of market opinion and independent editorial research, China Business Law Journal announces China’s future legal leaders.
As China’s heavily battered economy gradually recovers, challenges like corporate restructuring, financial risks, labour disputes and debt defaults place higher demands on legal practitioners. Moreover, China’s legal market feels increasing regulatory pressure with the advancement of the rule of law.
To align with the evolving dynamics of the legal industry and in response to market feedback, we have expanded The A-List this year by introducing three distinct categories: Visionaries; Growth Drivers; and Rising Stars. Each in their own way recognise elite lawyers for their outstanding performances in 2023.
The Rising Stars include 100 lawyers aged 40 or below who are practising Chinese law, as well as 20 lawyers from foreign law firms or working overseas. They are constantly on the lookout for breakthroughs, committed to paving the way for the development of enterprises in the ever-changing business landscape.
This article focuses on the Rising Stars. The Visionaries and the Growth Drivers are available in prior issues of China Business Law Journal, as well as on our website and social media platforms.
Methodology
In order to identify the most highly recommended lawyers in the market, we invited Chinese and global in-house counsel, executives, partners from Chinese and international law firms, and legal experts from various industries to nominate their lawyers of choice.
All lawyers engaged in private practice and involved in China-related matters were automatically eligible for the nomination process. As always, adhering to the principle of neutrality, lawyers were not allowed to nominate themselves or colleagues practising at the same firm.
After receiving nominations from the marketplace, we sent out invitations to nominated lawyers to submit further personal declarations. The declarations included basic information about the lawyer’s seniority, practice area and position, as well as major transactions and other groundbreaking achievements in the past 12 months.
The final list is the aggregate result of market nominations, candidates’ own submitted supportive information, and independent research conducted by the editorial team. As usual, there is no fee consideration for being nominated to be included in the A-List.
We would like to share our heartfelt appreciation to all our market survey participants, as well as extend our earnest congratulations to the winners.
Top-notch players
Outstanding young lawyers often expand their expertise and skillsets through in-depth research and practice, developing into experts in specific practice areas. They have become loyal companions and committed supporters of corporate development, and in turn have received widespread praise from in-house counsel and executives.
In the intellectual property of broadcasting, television, publishing, film and sports, Li Ping, a Beijing-based partner at Achieve & Insight (also known as Be Wu & Associates), has 11 years’ experience in practice.
“Li has been unanimously recognised by our colleagues for her excellent business skills and dedication,” says Li Lin, legal director of Alibaba (Beijing) Software Services. “Her talent and contribution have not only yielded sound results in our litigation cases, but also set a good example for other legal representatives, making positive contributions to justice and the rule of law.”
Li Ping has also worked with a number of leading Chinese and foreign companies, including People’s Education Press, China Central Television, Sinochem, Kuaishou Technology, NBA and SNK.
Derrick Zhao is a partner at Fangda Partners’ Shanghai office. His experience in compliance is appreciated by Dellen Dai, ethics and compliance director at Cargill Investments (China).
“Derrick not only has in-depth knowledge in various compliance risks, but also has a lot of practical experience,” says Dai. “In particular, he is adept at interpreting the ever-changing compliance regulations and has a unique perspective on the application of foreign compliance-related laws in China. He is definitely recommended.”
Devoted to labour law since the beginning of her practice, Bella Bai, a senior partner at Landing Law Offices, provides full legal support and solutions including the establishment of rules and regulations, anti-corruption compliance, flexible employment, remote payment of social security, management of expatriates, retirement and rehire, confidentiality and non-competition.
Arcplus Group legal director, Yuan Huiwei, says: “Bai is particularly skilled in dealing with difficult labour disputes and has shown a solid and pragmatic working style in both litigation and non-litigation cases.”
With a focus on foreign capital markets and M&A, Crystal Zhang, a partner at Tian Yuan Law Firm’s Hong Kong office, has assisted companies such as Gaush Meditech, Huisuanzhang, and Youlife International in completing their Hong Kong public offerings and filings.
Huisuanzhang general counsel Luo Yuan recommends Zhang. “She is well versed in the listing rules and regulatory practices of the Hong Kong capital market, with solid competence and experience in identifying, anticipating and dealing with major and difficult legal matters faced by Chinese issuers.”
Business mindset
With the world of business constantly in flux and the application of law becoming ever more complex and volatile, young lawyers need to keep learning and expanding their knowledge and skills to keep pace with both the industry and the times. In addition to mastering legal literacy, it has become a necessity for them to adopt business thinking and to formulate legal strategies that match the needs of corporate development.
Zhang Yun, a partner at the Beijing office of Merits & Tree Law Offices, is one such excellent example. “Zhang has not only a precise grasp of the legal speciality, but also unique insight into the investment landscape,” says Maggie Wang, head of the investment management department at Sunshine Property & Casualty Insurance.
“In business negotiations, she acts in the client’s highest commercial interests, rather than confining herself to legal terms and conditions. Every time we work together, she shows us the professionalism of lawyers.”
Xiaomi’s legal director of investment, Wei Ranying, also comments on Zhang: “She is professional and responsible, and able to view the terms of investment deals from investor/founder perspectives. She acts as an indispensable bridge of communication in both investment and M&A projects.”
In the private equity sector, Leigh Yang, a Shanghai-based partner at Han Kun Law Offices, shines. For her legal thinking and business intelligence, Yang has been endorsed by referrers from companies such as Tencent Holdings, Micro Connect, Qiming Venture Partners, and FountainVest Partners. China Everbright investment director Amy Pang is another one of them. “Yang is a long-term partner who we trust. She is professional, refined, efficient in feedback and able to provide solutions from the client’s perspective,” she says. “Whenever we work on complex or strategically significant projects, she is our first-choice fund counsel.”
When it comes to real estate, Jin Xiaofan, chief legal officer at Orix China Investment, recommends Zhou Zhehao, a Shanghai-based partner at Zhong Lun Law Firm. “As a Japanese-funded company, we face very complicated and sensitive negotiations in China. Zhou lent us his experience in dealing with various players in the real estate industry, and gave us wise observations and suggestions, not only from a legal perspective but also from a commercial one.”
With 11 years of legal experience under his belt, Zhang Xiaochu, a partner at the Guangzhou office of Dacheng Law Offices, is highly trusted by clients in the industry of family office and wealth management. “Zhang provides family trust planning services to his clients, from the design of the trust structure to negotiating terms with the trustee, to the pitfalls during the trust operation process. I believe his understanding in family trusts is very advanced in China’s market,” says Crown Wang, executive director of Vistra, a leading global provider of fund and corporate services, “I also very much applaud his philosophies in family governance, which suits the needs of domestic clients well.”
Cross-border authorities
With the world’s economic focus shifting to Asia, and China’s continuous reform and opening up to the international market, demand for cross-border transactions and foreign-related legal services in China grows steadily. Outstanding young lawyers are devoting themselves to cross-border dealings and safeguarding the interests of outbound Chinese enterprises.
Hou Xiaohua, a partner at the Beijing headquarters of Commence & Finance Law Offices, is an expert in foreign law matters, especially in relation to US anti-dumping and countervailing measures. Nominated by multiple Chinese exporters, he leads the only team in China to independently represent a Chinese mandatory respondent company and secure a zero duty rate from the US Department of Commerce.
“Hou collaborated closely with us, listened to our needs promptly, and provided in-depth, easy to understand professional advice each time,” says UM Industry’s general manager, Liu Weisheng. “[His team’s] efficiency, professionalism, and co-operation and communication with us were all impressive.”
In cross-border investment and financing, Lyon Dong, a partner at Grandall Law Firm’s Shanghai office, excels in his work, winning the trust of clients with his unique legal insights and outstanding communication skills.
“Lyon’s precise grasp of complex and high-value M&A, his quick interpretation of domestic and international laws and extensive experience, as well as his in-depth explanations have earned him high praise from clients as well as intermediaries from all parties,” says CITIC Securities senior vice president, Zhang Xin. “He is the first person who comes to mind when our company is to conduct energy M&A dealings, especially cross-border ones.”
Dong’s peer, Steven Yu, a partner at the Shanghai office of Global Law Office, also commends him: “He is always capable of balancing the interests of various parties in seemingly impossible projects, and proposing solutions that ultimately lead to a successful completion.”
DeHeng Law Offices’ Hong Kong-based partner, Lily Liang, has been practising in debt capital markets for 11 years. As of 12 October 2023, she has led her team to advise no less than 57 offshore debt offerings in 2023, ranking first among all international counsel advising Chinese issuers in terms of the number of deals completed, according to data provided by Covalent Capital.
Liang receives high praise from Haitong International Securities managing director, Monica Ma: “Her extensive background in finance and law, as well as her legal practice experience, enables Lily to approach her work with practicality and a deep understanding of clients’ needs.”
Stride forward
Generations of young lawyers have energised the legal profession and introduced more open-minded viewpoints and innovative solutions that set them apart from their predecessors. It is foreseeable that their dynamic development will further propel the legal market forward and usher in new opportunities.
Meng Yetian, currently a partner at Hui Zhong Law Firm’s Beijing office, was first promoted to the position of partner at TianTong Law Firm three years ago, becoming the firm’s “youngest partner” on record. She has 10 years’ experience in the legal profession and has dealt with a large number of complex and difficult civil and commercial cases at the Supreme People’s Court and provincial high courts.
“I met Meng because of two commercial lease disputes that lasted for more than a decade,” says Hu Yue, director of the legal and risk control compliance department at China National Machinery Industry International. “At that time, I only provided Meng with very general information about the case, but during the interview, Meng demonstrated sophisticated case experience beyond her years. Although we were only at the negotiation stage, she lent us sound advice without any reservation.”
Based in Beijing and Hong Kong, Simpson Thacher counsel Amy Liu has nine years of practice focusing on investment and financing, and has served reputable companies at home and abroad, including Alibaba, Ant Group, Blackstone and KKR.
Alibaba senior legal counsel, Jason Wu, says: “Liu is reliable, hardworking and quickly responsive to clients’ needs. She has demonstrated excellent judgement, expertise and business mindset as a lawyer in investment, financing and M&A in our longstanding co-operation, which has played an important role in advancing our project.”
In terms of civil and commercial arbitration and litigation, Zhai Xueming, a partner at the Beijing office of Dowway & Partners, is well recognised for his outstanding expertise as well as his creativity and judgement in cases. “Zhai is acquainted with commercial arbitration in both theory and practice. He has written and published many professional articles, and participated in the preparation of many books on arbitration,” says China Energy Technology chairman, Wang Zhifeng.
