Weil has closed its Beijing office and is currently in discussions to shut down its Shanghai branch.
A spokesperson at Weil told China Business Law Journal: “The firm is engaged in discussions on the office in Shanghai with a view to consolidating its Asia operations through the Hong Kong office.”
The details of the consolidation plan were expected to be finalised in the months ahead, the spokesperson added.
Weil’s website no longer includes information about the Beijing office, leaving only the Shanghai and Hong Kong offices listed under its Asian operations. The Shanghai office is headed by sole partner and head of China practice Charles Ching, who is also dually based in the Hong Kong office.
The Hong Kong office has a team of 20 lawyers, including five partners excluding Ching. In January, its managing partner Kathleen Aka led the team advising the ad hoc group of bondholders in China Aoyuan’s significant USD7.3 billion debt restructuring.
Since June last year, several major foreign law firms have either downsized their China offices or entirely exited the Chinese market. However, some firms have chosen to enter the market in Shenzhen, a thriving hub for innovation and technology in the country.
Last month, Perkins Coie closed its Shanghai office, but a few days later, the managing partner Bill Malley said the firm had plans to expand its presence into Shenzhen.
