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1 亚洲法律杂志 - 中国版 CHINA ISSN NOVEMBER 2018 CHINA EDITION 中国最大 30 家律所 IN-HOUSE SURVEY A love-hate relationship with law firms 企业法务调查与律所的 爱恨交织 ALTERNATIVE CAREER PATHS Contract-lawyer roles on the rise 崭新执业路径灵活用工制律师在增多 2019: AN OFFSHORE VIEW What the next year holds for China and beyond 展望 2019 离岸法律市场未来一年离岸业务发展态势

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3 CONTENTS NOVEMBER Tourists walk towards a 108 metres high Buddhist statue at Nanshan Cultural Centre, about 60km (37 miles) west of Sanya, in south China s Hainan Island province November 26, China s domestic tourism is booming as evidenced by an estimated 150 million people who took to the road, rail and air during this year s golden week Labour Day holiday in May. China s government is considering changing the country s three holiday weeks and introduce long weekends to cope with traveller congestion. REUTERS/Nir Elias COVER STORY 16 QUALITY OR QUANTITY? 规模化发展的下一步 Size is not everything, but it does have its undeniable advantages ALB China 30 Largest Law Firms shows that ALB continues to focus on law firms growth strategy and what the role of size means for law firms. In this report we analyze the changes in the ranking tables, investigating what leads Chinese law firms growth development and what strategies are being employed by international firms in China. Changes in headcounts, our sole metric, are not simply mathematical. Every decision to change, to preserve, on the rate of change, offers us a window to better understand today s legal service market. 尽管规模不总是最重要的指 标, 但它的确有不可否认的优势 2018 ALB China 最大 30 家律所榜单揭晓 ALB 将持续关注律所的规模化发展, 并探讨规模这个指标与律所发展战略的关系 我们试图从榜单数据里的变和不变, 解读律所规模化的发展态势, 洞悉外资所在中国下一步的业务布局 对于律所来说, 人员规模或许是个绕不掉的客观指标, 但它远非是一个简单数字的升降 : 每一个变化 不变 渐变, 都将是我们理解和思考这个时代律所发展态势的 入口 FEATURES CHINA IN-HOUSE SURVEY 2018 年中国企业法务调查 Recently, ALB has invited inhouse counsels from different industries across the country to participate in a survey to freely talk about the challenges they face, their relationship with external counsels and their outlook for 近期,ALB 邀请全国不同行业的法律顾问们参加了一项调查, 请他们各抒己见, 谈谈自己所面临的挑战 与外部律师的关系, 及对 2019 年的展望 42 TRIUMPHANT 2018, PROMISING 成绩斐然, 2019 充满期待 Offshore law firms have enjoyed a period of plentiful work so far this year. Will 2019 bring more of the same? Offshore lawyers offer their insights. 今年到目前为止, 离岸律师事务所一直在愉快地忙碌着 2019 年是否仍将带来更多的增长机会? 请看离岸律师谈他们的看法 48 LAW S THIRD WAY 法律新路线 With the rise of contractlawyer offerings in Asia, legal professionals across the region are finding that they have an additional career path beyond a conventional law firm or an in-house role. As these organisations offer lawyers varied working experiences and a sense of control over their working lives, it is no surprise that the life of a flexible lawyer is being seen as increasingly attractive. With the rise of contract-lawyer offerings in Asia, legal professionals across the region are finding that they have an additional career path beyond a conventional law firm or an in-house role. As these organisations offer lawyers varied working experiences and a sense of control over their working lives, it is no surprise that the life of a flexible lawyer is being seen as increasingly attractive. 随着合同制律师工作岗位在亚洲增加, 亚洲的法律专业人士发现他们在传统的律所或公司法务之外还有另一项职业道路选择 考虑到这些机构为律师提供多样化的工作经验并能让他们对工作有掌控感, 所谓灵活度更高的律师职位越来越有吸引力也就不足为奇了 BRIEFS 4 NEWS 6 DEALS 15 APPOINTMENTS LEGALBUSINESSONLINE.COM/CHINA ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 1

4 FROM THE EDITOR RANAJIT DAM Managing Editor, Asian Legal Business Thomson Reuters LET S DO IT BY THE NUMBERS Does size really matter? It is a question we are asked and we ask ourselves whenever we begin to compile our annual China Largest Law Firms rankings. The short answer is not always; when it comes to the quality of a firm, and the standard of services it provides, size is not always the best indicator. Smaller firms have their unique advantages in that they can be nimble and flexible, and offer in some cases closer, more personalized attention to their clients as compared to their larger counterparts. Larger firms come with issues of their own keeping a large workforce happy and engaged is just one of them and I personally know a number of lawyers who have swapped a 100-lawyer firm for a 10-lawyer outfit, and have been happier as a result. But size can be and please note the use of can an indicator of not just the breadth of services provided by the firm, but also how well it is doing in a specific market. Success usually leads to expansion, and an established brand showing stable growth can be an attractive destination for younger attorneys. Clients are also left happier with the one-stop shop that has all the answers as opposed to firm that has some of the answers, and then refers you elsewhere for others. Geographical reach is also a bonus. So, despite the caveats mentioned in the previous paragraph, size does have its undeniable advantages, and it is those that we celebrate in our list of China s largest firms. 用数字说话规模重要吗? 每年我们进行中国最大律所排名时, 都会有人提出这个问题, 我们自己也会思考 最直观的答案是 并不尽然 就一家律所提供的服务的质量和标准而言, 规模并非是最贴切的指标 小型律所更为敏捷 灵活, 优势独特 在某些情况下, 与大型律所相比, 他们能为客户提供更贴心 更个性化的服务 大型律所有他们自己的问题 让众多的员工满意并认真工作就是其中之一 我个人知道很多律师离开大型律所去了 10 人左右的小律所, 之后更加满意 但规模可能是 ( 请注意是 可能 ) 衡量一家律所提供服务的广度和在具体市场经营状况的指标 成功通常意味着扩张, 一个稳定发展的成熟品牌也能吸引更多年轻的律所加入 一站式 服务能解决客户所有的问题, 而小律所也许只能解决部分问题, 其他问题还得 另请高明, 客户满意度高下自现 地域覆盖也是一个加分项 所以, 尽管规模不总是最重要的指标, 它的确有不可否认的优势, 这也是我们列出年度排行榜的初衷 HEAD OF LEGAL MEDIA BUSINESS, ANA Amantha Chia 谢京庭 amantha.chia@thomsonreuters.com MANAGING EDITOR Ranajit Dam 邓文杰 ranajit.dam@thomsonreuters.com CHINA EDITORS Wang Jin 王瑾 jin.wang@thomsonreuters.com Bian Jie 边洁 jie.bian@thomsonreuters.com ANALYST Ines Yang 杨超 chao.yang@thomsonreuters.com ACCOUNT MANAGERS Yvonne Cheung 张裕裕 Account Director (China) (852) yvonne.cheung@thomsonreuters.com Steven Zhao 赵树群 Account Manager (China) (86) s.zhao@thomsonreuters.com Amy Sim Sales Manager (Japan, Singapore, Taiwan) (65) amy.sim@thomsonreuters.com Jeremy Lim Sales Executive (Indonesia) (65) jeremy.lim@thomsonreuters.com Sardor Yangibayev Sales Executive (Philippines, Thailand, Vietnam) (65) sardor.yangibayev@thomsonreuters.com DESIGNER Woncherian Wong 黄梓恒 TRAFFIC MANAGER Gloria Ng 吴傲宜 ASIAN LEGAL BUSINESS is available by subscription. Please call (Hong Kong), (Singapore) for details or visit Copyright is reserved throughout. No part of this publication can be reproduced in whole or part without the express permission of the editor. Contributions are invited, but copies of work should be kept, as ALB can accept no responsibility for loss. ISSN THOMSON REUTERS 16/F, Cityplaza 3, Taikoo Shing, Hong Kong / T / F ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 NOVEMBER 2018

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6 BRIEFS ISLAND PARADISE TO FTZ 海南自贸区正式设立 Hainan Province is set to become China s newest free-trade zone. And law firms are closely tracking developments. 律师事务所正在持续关注最新设立的中国 ( 海南 ) 自贸区的发展动态 BY INES YANG On Oct. 16, 2018, China rolled out the Overall Plan for China (Hainan) Pilot Free Trade Zone, the nation s 12th and the largest FTZ covering all of South China s Hainan Province, a signal that the blueprint for FTZ transformation of Hainan is ready. In April 2018, the government issued guidance that aims to establish Hainan FTZ by 2020 and build a Hainan free trade port by By 2035, Hainan s free trade system should be completely developed. Spanning 35,400 square kilometres, Hainan FTZ would be much bigger than China s 11 existing FTZs, which are only 120 square kilometres each. The other 11 FTZs are building on regions with good economic bases, while there are both developed and less developed areas in Hainan island, so various experiences can be summed up from Hainan FTZ. The plan reiterates that Hainan FTZ will further open up to foreign capital via the Negative List/Pre-Establishment National Treatment Model, especially in high tech, and modern industries and services. The seed industry, medical care, education, tourism, telecommunications, Internet, culture, finance, aviation, marine economy and new energy vehicle manufacturing are circled as key areas. Another significant issue on the agenda for the FTZ development is to enhance cooperation with countries and regions along the Belt and Road. 10 月 16 日, 中国 ( 海南 ) 自贸区总体方案正式发布, 意味着中央支持海南自贸试验区建设有了具体的路线图 今年 4 月发布的 中共中央国务院关于支持海南全面深化改革开放的指导意见 中, 已明确海南自贸区发展的具体时间表 : 到 2020 年, 自由贸易试验区建设取得重要进展, 国际开放度显著提高 ; 到 2025 年, 自由贸易港制度初步建立, 营商环境达到国内一流水平 ; 到 2035 年, 自由贸易港的制度体系和运作模式更加成熟, 营商环境跻身全球前列 中国现有的 11 个自由贸易试验区面积均在 120 平方公里左右, 海南自由贸易试验区的最大特点是 全域性, 实施范围共计 3.54 万平方公里 除 全域性 外, 中国其他 11 个自贸区都是在经济基础好的区域开展试点, 海南全岛建设自贸试验区则既有发达区域 也有欠发达区域, 可形成更多元的试点经验 此次 方案 明确, 将大幅放宽外资市场准入, 进一步扩大对外开放, 对外资全面实行准入前国民待遇加负面清单管理制度 深化现代农业 高新技术产业 现代服务业对外开放, 在种业 医疗 教育 旅游 电信 互联网 文化 金融 航空 海洋经济 新能源汽车制造等重点领域加大开放力度 方案 另一大亮点, 是支持海南与 一带一路 国家和地区广泛加强合作, 在科技创新 金融 教育 贸易等方面开展交流合作与功能对接 一带一路 倡议为深化区域经贸合作 促进共同发展提供了重要平台 海南欢迎全世界投资者到海南投资, 参与自贸港建设, 共享中国发展新机遇 亦自今年 4 月 13 日中央宣布支持海南建设自贸区以来, 海南再度成为投资热土 海南省副省长沈丹阳在新闻稿中曾表 4 ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 NOVEMBER 2018

7 BRIEFS The areas for such cooperation include technology innovation, finance, education and trade, among others. China s BRI offers a platform to tap the potential for cooperation and Hainan welcomes investors worldwide to invest and participate in developing the free trade port in Hainan, and share the country s development opportunities and reform outcomes. Since the issuing of the guidance this April, Hainan has been an investment hot spot. Danyang Shen, Hainan vice governor said in a news release that the construction of Hainan FTZ and free trade port will create new opportunities for cooperation between Hainan and Taiwan. The two islands share many similarities but they also complement each other a lot. Despite the opportunities, the plan also focuses on the establishment of major risk control mechanisms, including four main parts such as an interim and post-event supervision system, trade risk control, financial risk control, port risk prevention and control. Information supervision is highly significant to the development of Hainan FTZ, the plan emphasizes. In recent years, Hainan saw many firms settling here, some via mergers while some not. Beijing DHH Law Firm established its own Haikou office last month, with a total office area of 1300 square meters. The local government expects DHH s Haikou office will be a model for local law firms and a cornerstone for the development of the island. JunHe is another law firm that has its own presence in Haikou of Hainan Province. Its Haikou office was set up as early as 1992, its first office nationwide, which was also the very first office by non-local firms in Hainan. We have been keeping a close watch to the progress of Hainan FTZ, particularly on the updates on laws and regulations, and the changing demands of the legal service market. We will invest more in the building of the Haikou office if the local market is gaining more momentum. Besides the Haikou office, our Guangzhou, Shenzhen, Hong Kong offices in Southern China are combined to build more synergy and integration. Ruhai Xia, Of Counsel of the Haikou office of JunHe says. The local government hopes to attract more international professional service organizations. PwC and EY were among the first international professional service companies to settle in Haikou. International law firms are expected to settle in here too. According to my observations, the international law firms are still watching in terms of Hainan s potential legal service market and the local government s more favourable policies. Xia adds. In April 2015, Baker McKenzie teamed up with China s FenXun Partners to conduct the joint operation in the Shanghai FTZ. In December 2016, FenXun set up its own office in Hainan. Will international law firms like Baker McKenzie start their business in Hainan FTZ too? According to the updates of the Investment Plan of Hainan FTZ, the department of Justice of Hainan Province are reaching out to Skadden, Arps, Slate, Meagher & Flom or Latham & Watkins to have their offices established in Haikou. 示, 与台湾合作也是海南自贸试验区建设一个非常重要的内容 海南岛和台湾岛有很多相似的地方, 在产业上也有很多可以相互借鉴和互补的方面, 合作的领域是很宽的 对于海南自贸试验区重点要发展的 3 大产业和 10 个领域, 台商到海南来投资合作发展都有很大空间 但与此同时, 海南岛全岛试点也蕴含一些风险, 方案 为此专门用了一大部分来谈风险防控, 分为事中事后监管 贸易风险防控 金融风险防控 口岸风险防控等四部分, 并提出建立大数据高效监管模式 构建自贸试验区进出境安全风险信息平台等重视 信息建设 的监管措施 近几年, 有不少律所来海南设立分所, 有些是收购 ( 合并 ) 了海口 三亚的律所后更名, 有些是设立在海南其他市县 北京德和衡律师事务所上月 20 日刚刚在海口设立了新办公室, 是北京德和衡律师事务所在海南地区设立 由海南省司法厅批准设立的综合性专业法律服务机构, 新办公场地拥有 1300 平方米的办公面积 作为一家在海南颇具影响力的大型律师事务所, 海口市政府寄与德和衡海口办公室能成为海口市乃至海南省的法律服务示范机构, 为海南自贸区 ( 港 ) 建设贡献中坚力量 君合律师事务所则早在 1992 年就设立了海口办公室, 也是君合设立的第一家分所和外阜律师事务所在海南设立的第一家分所 关于君合在海南的发展规划, 在中央决定海南建设自贸区 ( 港 ) 后, 我们也一直在持续关注海南建设自贸区 ( 港 ) 的进展和法律服务市场的变化 ; 如果海南法律业务市场持续增长, 相信君合将壮大海口办公室的发展 君合也一直在加强广州 深圳 香港 海口四地的联动和一体化布局, 以此构成君合对华南地区的体系化覆盖 君合律师事务所海口办公室顾问夏儒海律师告诉 ALB 海南省政府也希望多引进一些国际知名中介机构 在会计师事务所方面, 目前已经引进安永 普华永道在海口落户 ; 在律所方面, 也希望有知名国际所进驻 目前国际律所可能仍处于观望状态, 一方面观望海南法律服务市场的变化情况, 另一方看海南相关政府部门是否会出台针对国际所的一些优惠政策 夏律师指出 2015 年 4 月, 贝克 麦坚时国际律师事务所和奋迅律师事务所共同在上海自贸区设立办公室实行联营 2016 年 12 月, 奋迅律师事务所在海南设立了办公室 海南自贸区会否成为贝克 麦坚时等国际所的下一步业务布局? 据悉, 海南省司法厅正在联系美国世达国际律师事务所或美国瑞生律师事务所, 就是否会在海口设立代表机构进行洽谈 LEGALBUSINESSONLINE.COM/CHINA ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 5

8 BRIEFS $5 BLN Axis Bank s issuance of notes 印度 Axis 银行发行票据 Deal Type: Capital Markets/Banking Firms: AZB & Partners Jurisdictions: India DEALS 交易 $1.33 BLN $1 BLN China Vanke-led consortium s acquisition of shopping malls from CapitaLand 万科收购凯德集团购物中心 Deal Type: M&A Firms: King & Wood Mallesons; Paul Hastings; WongPartnership Jurisdictions: China, Singapore TME s IPO 腾讯音乐赴美上市 Deal Type: IPO Firms: Davis Polk & Wardwell; Grandall Law Firm; Han Kun Law Offices; Maples and Calder; Skadden, Arps, Slate, Meagher & Flom Jurisdictions: Hong Kong 交易类型 : 资本市场, 银行参与律所 :AZB & Partners 律师事务所管辖地 : 印度 交易类型 : 并购参与律所 : 金杜律师事务所 普衡律师事务所 新加坡王律师事务所管辖地 : 中国大陆 新加坡 交易类型 : 上市参与律所 : 美国达维律师事务所 国浩律师事务所 汉坤律师事务所 迈普达律师事务所 世达国际律师事务所管辖地 : 中国香港 $580 MLN CGN International s issuance of guaranteed bonds due 2025 中广核发行 2025 年到期的担保债权 Deal Type: Capital Markets Firms: King & Wood Mallesons Jurisdictions: China, Hong Kong 交易类型 : 资本市场参与律所 : 金杜律师事务所管辖地 : 中国大陆 中国香港 $556 MLN CITIC Metal s acquisition of stake in Ivanhoe Mines 中信金属收购艾芬豪矿业股份 Deal Type: M&A Firms: Baker McKenzie Jurisdictions: China, Hong Kong, Canada, Singapore, Malaysia, South Africa 交易类型 : 并购参与律所 : 贝克 麦坚时律师事务所管辖地 : 中国大陆 中国香港 加拿大 新加坡 马来西亚 南非 $500 MLN CGN s issuance of guaranteed bonds due 2023 中广核发行 2023 年到期的担保债权 Deal Type: Capital Markets Firms: King & Wood Mallesons Jurisdictions: China, Hong Kong 交易类型 : 资本市场参与律所 : 金杜律师事务所管辖地 : 中国大陆 中国香港 $480 MLN Qingdao Haier s acquisition of Candy 青岛海尔收购意大利 Candy Deal Type: M&A Firms: Cleary Gottlieb Steen & Hamilton; Orrick, Herrington & Sutcliffe Jurisdictions: Hong Kong, Italy 交易类型 : 并购参与律所 : 美国佳利律师事务所 美国奥睿律师事务所管辖地 : 中国香港 意大利 $392 MLN Midea Real Estate s Hong Kong IPO 美的置业香港上市 Deal Type: IPO Firms: Allen & Overy; Jia Yuan Law Offices; Paul Hastings; Tian Yuan Law Firm Jurisdictions: China, Hong Kong 交易类型 : 上市参与律所 : 安理国际律师事务所 嘉源律师事务所 普衡律师事务所 天元律师事务所管辖地 : 中国大陆 中国香港 6 ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 NOVEMBER 2018

9 BRIEFS SHANGHAI S HUI YE OPENS THIRD NEW OFFICE THIS YEAR IN HEFEI 汇业律师事务所在合肥开设今年第三家分所 Hui Ye Law Firm has established a new office in the city of Hefei of Anhui Province, its third office opening this year after its Wuhan and Xi an branches. Hefei is the capital of Anhui. The city was approved by China s MIIT as a model pilot city for Made in China 2025 plan focusing on promoting manufacturing in 2017 and maintains trade ties with over 180 countries and regions. The city was also named as the world s fastest growing metropolitan economy by The Economist in 2012 and The opening of the Hefei office plays a critical role to the firm s strategic development in the Yangtze Delta region, where its Shanghai, Nanjing, Ningbo offices are already in place. The firm will also open offices in Suzhou and Hangzhou soon. The fast-expanding Hui Ye is also planning offices in Qingdao in Shandong Province and Changsha in Hunan Province. 汇业 ( 合肥 ) 律师事务所经安徽省司法厅批准同意正式设立, 是汇业今年以来继武汉分所 西安分所之后的第三家分所 作为安徽省省会, 合肥去年被国家工信部批准成为 中国制造 2025 试点示范城市, 这是合肥制造业首次以城市为主体融入国家战略 截至目前, 合肥已与 180 多个国家和地区建立了贸易投资关系 2012 年和 2015 年, 合肥均被 经济学人 评为全球经济增长最快的城市 合肥是 一带一路 和长江经济带战略双节点城市, 汇业合肥办公室的开设对汇业战略布局有着重要意义 汇业将扎根于合肥这座创新之都, 为长三角一体化的经济发展 法制建设贡献力量 目前汇业在长三角地区的布局已日趋完善, 除了其上海 南京 宁波 合肥办公室均已到位, 汇业近期也在筹备在苏州和杭州新设办公室 快速发展中的汇业同时也在筹备在青岛和长沙新设办公室事宜 GUANGZHOU-BASED KINGPOUND OPENS TWO NEW OFFICES 广州金鹏律师事务所新设两家分所 Kingpound Law Firm, the oldest partnership-based law firm in Guangzhou, has opened two new offices in the suburban districts of Huadu and Baiyun. Founded in 1993, the firm is now one of the largest law firms in Guangdong. In 2015, Kingpound was restructured as the first batch of limited liability partnership law firms in the province. Kingpound claims that its integrated legal network in Guangdong province will make it more responsive to the increasing demands and opportunities presented by the Greater Bay Area and the BRI projects. Partner Chunhua Lv will be the director of the Baiyun office. 金鹏律师事务所是广州最早的市属合作制律师事务所, 今年已在广州花都和白云开设了两家分所 金鹏成立于 1993 年, 是广东省最具规模的综合性律师事务所之一 2015 年, 金鹏成功获批改制成为广东省首批特殊普通合伙制律师事务所之一 金鹏深耕广东法律市场的一体化布局, 将助力其更好地把握粤港澳大湾区和 一带一路 带来的历史发展机遇 吕春华律师担任广州金鹏 ( 白云 ) 律师事务所主任 LEGALBUSINESSONLINE.COM/CHINA ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 7

10 BRIEFS BEIJING-HEADQUARTERED ZHONGLUN W&D ESTABLISHES A NEW OFFICE IN HANGZHOU 北京市中伦文德 ( 杭州 ) 律师事务所成立 Beijing headquartered Zhonglun W&D Law Firm (ZLWD) has opened a new office in the eastern Chinese city of Hangzhou. The new office is located in Hangzhou s Xiaoshan District. The district is home to the main venue of the G20 Hangzhou Summit. It is also renowned for its economic development and has investment potential. The opening of Hangzhou office, together with ZLWD s Shanghai, Changzhou and Nanjing offices, will reinforce the firm s practice in China s Yangtze River Delta. 北京市中伦文德 ( 杭州 ) 律师事务所获主管部门许可, 正式成立 北京市中伦文德 ( 杭州 ) 律师事务所位于钱塘江南岸浙江省 GDP 排名第一的萧山区 萧山区是 2016 年 G20 杭州峰会的主会场, 这些年经济发展迅速, 在 2018 年度全国投资潜力百强区的榜单中, 萧山位列第四位 在北京市中伦文德律师事务所上海分所 南京分所 常州分所设立之后, 杭州分所的成立, 标志着中伦文德在长三角布局的完美收官 TIGHTER U.S. FOREIGN INVESTMENT RULES AIMED AT CHINA START IN NOVEMBER 美国将于 11 月份开始实施针对中国更加严格的外国投资规则 The federal government will tighten rules on foreign investment in sensitive industries like technology and telecommunications this month, the Treasury Department, as it starts to enforce a law aimed at curbing Chinese investment in 27 sensitive sectors. The Committee on Foreign Investment in the United States (CFIUS) reviews mergers and stock purchases to ensure they do not harm national security. It was strengthened by legislation in the National Defense Authorization Act that was signed into law in August. Much of the panel s highest profile work focuses on Chinese companies, many with government links, which have tried to buy U.S. high-end semiconductor makers and other tech companies. 美国联邦政府本月将对技术 电信等敏感行业实施更加严格的外国投资规则 ; 美国财政部开始实施一项新法规, 旨在限制中国对 27 个敏感行业进行投资 美国外国投资委员会 (Committee on Foreign Investment in the United States, 简称 CFIUS ) 对收购计划和股份购买进行审查, 以确保美国国家安全不会受到损害 ; 今年 8 月份签署的 国防授权法 加强了该审查 CFIUS 的大部分最受人关注的工作都集中在中国企业, 这些企业中有许多都与政府有关联, 试图收购美国的高端半导体制造商和其他科技公司 上述 27 个行业涵盖电信 半导体 飞机制造 ( 包括发动机和发动机零件 ) 铝生产 计算机存储设备以及导弹和其他军事设备 美国财政部称, 如果外国投资者在上述产业进行投资, 且其通过投资将有权获取非公开信息 有权提名董事会成员或作出其他实质性决定, 则该等投资必须向 CFIUS 申报 该部门表示,CFIUS 可以在 30 天内决定批准交易或对交易展开全面调查 这些临时规定解决了对美国关键技术造成的特定风险, 同时为最终法规的制定提供了依据, 美国财政部长姆努钦 8 ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 NOVEMBER 2018

11 BROUGHT TO YOU BY RONGLI & TENWEN LAW FIRM 网盘的法律问题 作者杨阳律师, 上海融力天闻律师事务所杭州分所知识产权部门主管 专职律师, 浙江大学光华法学院法学硕士 杨阳律师执业于 2011 年, 目前执业于融力天闻所杭州分所, 长期从事知识产权类法律事务, 拥有丰富的诉讼实务经验和扎实法律理论基础, 先后承办了业内极具知名度的众多案件 网盘作为互联网用户本地存储空间的拓展, 目前已逐渐成为了基础应用之一 但国内互联网产品的一些问题, 尤其是这种内容集中的产品, 用户存储的数据的安全性 隐私性, 以及版权都一一凸显 在本文里, 我们还是将围绕争议极大的版权问题展开, 在展开之前, 我们先就网盘的存储逻辑做个简单说明 网盘简单来说, 就是用户本地硬盘的网络化, 只不过本地的复制 剪切 删除等操作变成了网盘对应的复制 剪切 删除, 而用户存储 转移文件的过程则变成了上传 下载 正常来说, 网盘就是拼网速 存储空间大小了 但我们要考虑到国内的一个特别情况, 很多人的存储空间是用来存储影视 音乐之类的文件的, 这些文件都是需要占用大量存储空间的文件, 具有文件大 格式固定的特定, 再加上对网络极为依赖, 如何解决这些文件的上传 下载 分享就成为一个提升用户体验的重要问题 而且网盘服务商的带宽和服务器都是真金白银堆出来的, 提高利用率也得一起解决 我们拿百度网盘来举例说明, 百度网盘的解决逻辑是, 相同的文件在服务器上只存储一份, 用户上传 下载 分享并不发生实际的本地 网络数据交换, 百度网盘在用户上传 分享的时候对文件的哈希值进行比对, 在确认用户上传的文件服务器已有后, 利用秒传 离线下载 分享来确认提示用户操作已经成功, 并将服务器对应文件的访问 获取权限开放给用户 实际控制权限还在百度网盘手中, 用户是无法真正控制 删除这个文件的 秒传 离线下载 分享等等无非是一种确认形式, 确认自己服务器里有对应文件, 而并非真的有上传 下载 复制行为发生 百度网盘所做的, 同用户实际目的和指令是不一致的, 只是由用户主导的操作变成了百度网盘主导的操作, 虽然结果是一致的 根据网盘的存储逻辑, 我们可以知道, 发生于网盘之中的分享 下载行为实际上都是网盘服务商在直接进行数据处理 所以, 依据 著作权法 48 条第一项 最高人民法院关于审理侵害信息网络传播权民事纠纷案件适用法律若干问题的规定 第 3 条规定, 网盘服务商的行为就是直接提供的侵权行为, 网盘服务商直接把文件本身提供给了用户, 供用户在线播放, 传播 下载到本地 文件本身并非是用户在控制, 网盘服务商此时已经完全变成了内容提供商, 如果向用户提供的是侵权文件, 也理所当然要承担直接侵权责任 可能会有这样的疑虑, 根据目前的法律规定, 个人用户基于自己合理使用侵权文件是合法的 但实际上, 这只是用户在不传播的前提下用户的合理使用是否可以构成的条件 网盘服务商此时相当于那些提供侵权文件下载的下载网站, 并额外对用户提供了用户可选择的侵权文件的获取途径收藏功能 而在没有杜绝传播前, 网盘服务商也不应该成为盗版侵权文件的存储地, 更不应该为用户利用网盘传播侵权文件提供任何帮助, 因为用户存储侵权文件然后分享传播就已经超越了合理使用的范畴 依据 信息网络传播权保护条例 23 条, 最高人民法院关于审理侵害信息网络传播权民事纠纷案件适用法律若干问题的规定 第 7 条第三款 国家版权局 关于规范网盘服务版权秩序的通知 第 2-6 条的规定, 网盘服务商明知属于侵权文件, 依然提供服务的, 属于明知类的帮助侵权 版权方在维权中, 往往会遇到网盘服务商的刁难, 最普遍的就是要求版权方依法提供侵权链接, 但实际上, 所谓的侵权链接, 只是一些侵权的分享链接, 分享一百次就会是一百个链接 删除链接, 实际上并非法律要求, 也并不能达到版权方维权的目的 根据 信息网络传播权保护条例 14 条规定, 版权方可以要求网盘服务商断开链接, 也可以要求其删除作品, 也即是侵权文件本身 网盘服务商只是怠于履行法律责任而已, 在一个存储文件的服务活动中, 却要求版权方提供链接, 这本身就是极为可笑的 从以上我们可以看出, 网盘服务商实际上在利用技术信息不对等合法的盗版侵权, 一方面利用人性的贪婪传播盗版侵权获益, 一方面却标榜法律至上 用户第一, 让版权方投诉无门 技术是中立的, 但是网盘服务商这样, 以技术为幌子, 行非法之是由, 在知识产权被越来越重视的今天, 只能是自吞苦果, 为自己的行为付出法律的代价 上海融力天闻律师事务所电话 (Tel): 传真 (Fax): 地址 (Add): 上海市浦东新区世纪大道 88 号金茂大厦 17 层

12 BRIEFS The 27 industries include telecommunications and semiconductors as well as aircraft manufacturing, including engines and engine parts, aluminum production, computer storage devices, guided missiles and other military equipment. Investments in these sectors must be reported to the committee if the foreign investor s role would allow access to non-public information or afford power to nominate a board member or make other substantial decisions, the department said. CFIUS will have the option to approve a deal within 30 days or open a fuller investigation, the department said. These temporary regulations address specific risks to U.S. critical technology while informing the development of final regulations, said Treasury Secretary Steven Mnuchin in a statement. The pilot program is scheduled to begin on Nov. 10 and run for more than a year while formal, permanent rules are being written, a senior administration official said. The interim regulations would likely lead to more filings with the committee, said Sylwia Lis of Baker McKenzie. It has a significant impact, she said. Other portions of the legislation, such as rules allowing CFIUS to stop foreign purchases of land near military installations or ports, will be addressed later, an official said. CFIUS has taken a tough stance against Chinese or other foreign investment in sensitive industries ranging from high-end semiconductors to real estate. In August, for example, it ordered Chinese conglomerate HNA Group Co Ltd [HNAIRC.UL] to sell its majority stake in a Manhattan building whose tenants include a police precinct tasked with protecting Trump Tower. In March, President Donald Trump blocked high-end chip maker Qualcomm from being taken over by Broadcom, then based in Singapore, citing the panel s concerns over a loss of U.S. dominance in the latest generation of wireless technology. REUTERS/JBrian Snyder (Steven Mnuchin) 在一份声明中表示 一名高级政府官员表示, 该试点项目计划于 11 月 10 日开始实施, 将试行一年多的时间, 与此同时, 正式的永久性法规正在制定中 贝克 麦坚时国际律师事务所的 Sylwia Lis 表示, 临时规定很可能会导致有更多的申请提交到 CFIUS, 这将造成巨大影响, 她说 一名官员表示, 该项立法的其他内容, 例如 : 允许 CFIUS 阻止外国投资者购买军事设施或港口附近土地的规则, 将在稍后进行讨论 对于中国或其他国家在美国高端半导体 房地产等敏感行业进行的投资,CFIUS 已经采取了强硬的立场 例如, 今年 8 月,CFIUS 责令中国企业集团海航集团有限公司 [HNAIRC.UL] 出售其在曼哈顿大厦的多数股权, 该大厦的租户包括一个负责保卫特朗普大厦的警署 今年 3 月, 美国总统特朗普下令阻止当时总部设在新加坡的拨通收购美国高端芯片制造商高通公司, 理由是 CFIUS 担心美国在最新一代无线技术方面失去主导地位 REGULATOR SAYS WILL ALLOW WHOLLY-OWNED FOREIGN BANKS IN CHINA 监管机构表示将允许在中国设立外商独资银行 Foreign banks will be allowed to set up wholly-owned banks and branches in China, according to draft rules issued by the banking and insurance regulator. In a statement on its website, the China Banking and Insurance Regulatory Commission (CBIRC) said that branches of foreign banks would be required to keep more than 8 percent of yuan risk assets as yuan-denominated operational funds and reserves. Chinese citizens would be allowed to establish time deposits exceeding 500,000 yuan in domestic branches of foreign banks, the draft rules said. 根据银行保险监管机构发布的规则草案, 将允许外国银行在中国设立外商独资银行和外国银行分行 根据中国银行保险监督管理委员会在其网站上发布的征求意见稿, 外国银行分行营运资金加准备金等项之和中的人民币份额与其人民币风险资产的比例不得低于 8% 规则草案称, 允许中国公民在外国银行中国境内分行存储每笔不少于 50 万元人民币的定期存款 10 ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 NOVEMBER 2018

13 BROUGHT TO YOU CO-EFFORT LAW FIRM 协力二十载 : 专业化带动规模化 在规模扩张和专注领域中探寻平衡 马晨光, 协力律师事务所管理合伙人 Ma Chenguang, Managing Partner of Coeffort Law Firm LLP 地址 : 上海市浦东新区陆家嘴环路 958 号华能联合大厦 35 楼 (200120) 35/F, Hua neng Union Tower, 958 Lujiazui Ring Rd.Shanghai, , P.R. China 电话 : 邮件 :chenguangma@co-effort.com 2018 年, 协力律师事务所成立二十周年 从最初只有四名执业律师的事务所发展至上海首家特殊普通合伙制律所, 再到跻身中国精英律所 30 强的四百余人大所, 事实证明协力的 专业化带动规模化 发展策略即可行又有效 协力律师事务所创立初期, 管理相对简单, 业务主要集中在日本法律业务 协力律师事务所管理合伙人马晨光律师告诉 ALB 在协力成立初期的 90 年代, 以涉外业务为主开办律所也称得上是一种先行探索 至今, 协力的涉外业务依然是律所核心领域之一 2001 年是协力发展历史上至关重要的一年, 这一年协力内部进行了重组, 调整了内部制度规范 马律师说道, 之后, 协力开始走上专业化 规范化 规模化的道路, 多位对律所日后发展起到重要作用的律师加入协力, 形成了知识产权 并购金融等多个专业领域, 业绩持续稳步增长, 成为上海知名的综合性律师事务所 经过 2007 律所内部实施股改这一创新之举,2011 年, 协力获批成为上海首家特殊普通合伙制律所, 律所管理效率和决策机制均有所调整, 规模化布局加快 之后协力与上海市浩英律师事务所的合并更进一步扩充了律所海商海事 国际贸易 反倾销等领域的业务实力 据马律师介绍, 为打造一家综合性的专业规模所, 协力较早尝试了专业委员会 孵化 专业团队模式, 推行专业委员会管理模式, 纵向打通分所和总所之间的业务合作模式, 形成以专业为纽带的业务合作 如今, 协力已经由一个四名执业律师的事务所发展成为四百余人的规模所,2017 年创收突破 2.5 亿元, 是一家在知识产权 并购金融 贸易救济 国际投资 海商海事 公司证券 争议解决等众多业务领域实力雄厚的综合性专业法律服务机构 她说道 在权衡专业发展和规模扩张方面, 协力的理念是以 专业带动规模 : 立足专业, 考虑专业的互补, 而不是为了扩大规模而盲目地开设分所 近些年, 由于业务的扩展, 协力加速了全国分所布局, 也加快了走出去的步伐 就此, 马律师说 : 我们的业务领域在不断扩充, 专业服务能力不断提升, 再加上改制等较为成功的尝试探索, 规模化可以算是顺势而为, 此时规模化也可以促进专业化, 战略并没有改变 协力现阶段的定位是一家兼具国际视野和本土智慧的综合性专业法律服务机构, 律所的发展方向是将 专业化 继续坚持到底, 在此基础上朝着规模化 国际化发展的道路继续迈进, 做一家以专业取胜的规模化 国际化律师事务所, 致力于为客户提供最优质的法律服务 目前, 协力律师事务所设有北京 苏州 南通 无锡 长沙 郑州 徐州 厦门 南京 杭州 大连 11 家国内分所, 日本大阪 福冈 意大利米兰 法国巴黎 新加坡 德国柏林 日内瓦 7 家国际分支机构 为了积极响应国家倡议, 协力还与 一带一路 沿线国家的 16 家律师事务所签署了 一带一路 战略法律服务合作框架协议 仅今年, 协力就已举办三场 一带一路 法商系列论坛 协力将不断壮大涉外业务队伍, 服务好国家的 一带一路 倡议, 帮助更多企业更好走出去的同时, 实现国际化及自身的转型升级 然而, 随着事务所规模的不断扩大, 协力也面临着律所战略与时俱进 深化一体化建设及提高管理效率等挑战 在分所拓展方面, 除了要有前瞻性地制定布局计划, 还要考虑分所与总所之间 不同分所之间的联动 马律师说道, 我们尝试建设 云端律所, 以专业为纽带, 不再区分总所和分所的概念 通过专业委员会, 从纵向的专业和横向的地域这两个角度, 把全国范围内协力平台的法律服务资源都整合在一起, 跨地域为客户提供服务 做好行政人事 品牌宣传管理, 对律所实现长远发展所产生的作用也不可小觑 2017 年, 协力精简人员, 总所人数从 130 多人减少到 90 多人, 创收却仍达 1.6 亿元, 实现了 40% 的大幅提升, 这些成就主要归功于管理合伙人当机立断引进专业品牌运营人才, 发力品牌建设 我们正探索对内更便捷的共享机制 对外更高质统一的服务标准 马律师说道 协力的整体文化战略是 兼容并蓄 海纳百川 百舸争流 百花齐放, 力争通过专业服务在为客户创造价值的同时实现自身价值与社会价值 所以, 公益亦是协力律所文化的核心 协力律所的律师们发挥其专业优势, 积极参与公益诉讼和法律援助工作 律所更设立公益基金, 为公益活动提供支持 马律师说 : 我们将公益融入血液, 一直在用实际行动承担着社会责任 这些都是协力人自发且长久持续参与的, 不只是说说而已 最具代表性的是律所一直大力推进的关爱自闭症儿童 彩虹雨 项目 协力携手 上海彩虹雨儿童智能训练中心, 持续为 星星的孩子 举办了包括 迎六一, 关爱自闭症儿童 公益拍卖 新年心愿 亚洲 星宝 音乐会与摄影大赛等一系列公益活动, 同时成立了协力爱心慈善基金会 彩虹雨协力班等 我们希望能切实帮助到这个群体, 也期望能在社会公益法律服务方面发挥积极作用, 推动法律人公益事业发展 马律师如是说

14 BRIEFS CHILEAN COURT REJECTS LAWSUIT TO BLOCK SQM STAKE SALE TO TIANQI 智利法院驳回阻止 SQM 向天齐锂业出售股权的诉讼 Chile Constitutional Court last month rejected a lawsuit to block Chinese miner Tianqi s purchase of a stake in Chilean lithium miner SQM, clearing the way for the transaction to close. In a majority ruling, the court said the lawsuit was inadmissible and lifted its suspension on the $4.1 billion sale to Tianqi Lithium Corp of a 24 percent holding in world No. 2 lithium miner SQM SQMa.SN. Tianqi s lawyers said they were very satisfied with the ruling. The initial lawsuit, brought by SQM majority shareholder Julio Ponce Lerou, was intended to scuttle an agreement struck between Chile s antitrust regulators and Tianqi. Ponce s lawyers argued the deal had been struck practically in secret and that it failed to protect SQM s corporate secrets from top competitor Tianqi. The decision, passed by three to two votes, removes yet another obstacle for Canadian fertilizer producer Nutrien, which owns the near one-quarter stake in SQM and must sell its shares by April 2019 in order to comply with regulatory requirements put in place by Indian and Chinese authorities following a prior merger. The court s decision is final and not subject to appeal but one legal hurdle remains. Ponce s Pampa Group, which controls SQM, earlier this month filed an additional appeal with Chile s TDLC antitrust court. Nutrien has previously argued that the real objective of Ponce s legal maneuvers is to block the sale to Tianqi and force Nutrien to miss its deadline with Indian and Chinese regulators. Pampa has said it is concerned Tianqi, which controls Talison Lithium, a joint venture with No. 1 lithium producer Albemarle Corp (ALB.N) in Australia, could share secrets with its U.S.-based competitor and neighbor in Chile s lithium-rich Salar de Atacama. Tianqi s bid to acquire the stake comes as Beijing is aggressively promoting electric vehicles to combat air pollution and help China s domestic carmakers build global brands. The high-grade lithium mined by SQM in Chile s Salar de Atacama is a key ingredient in the batteries that power everything from cell phones and tablets to electric cars. 智利宪法法院上个月驳回了一项阻止中国矿业公司天齐锂业收购智利锂矿公司 SQM 股份的诉讼请求, 为此项交易成交扫清障碍 在一项多数裁决中, 法院认定该诉讼请求 不予受理, 并取消了此前发布的禁令 暂时禁止天齐锂业公司以 41 亿美元收购世界第二大锂矿公司 SQM SQMa.SN 的 24% 股权 天齐锂业的律师表示他们对此项裁决 非常满意 该诉讼由 SQM 控股股东胡里奥 庞塞 勒罗 (Julio Ponce Lerou) 提起, 目的在于破坏智利反垄断监管机构与天齐锂业之间达成的一项协议 庞塞的律师辩称, 这笔交易 实际上是在暗中 达成的, 而且未能对最大的竞争对手天齐锂业保守 SQM 的公司秘密 该项裁决以 3:2 投票通过, 为加拿大化肥生产商 Nutrien 清除了另一个障碍 该公司持有 SQM 近四分之一的股份, 且必须在 2019 年 4 月前出售该股份, 以满足印度和中国针对其之前进行的合并交易所提出的监管要求 宪法法院的裁决是最终裁决, 不能提出上诉, 但仍然存在一个法律障碍 控股 SQM 的 Pampa 集团在本月的早些时候向智利自由竞争保护法院 (Tribunal de Defensa de la Libre Competencia, 以下简称 TDLC ) 提出追加上诉请求 Pampa 集团是庞塞的投资机构 Nutrien 之前曾主张, 庞塞采取的法律手段 (legal maneuvers) 的 真正目的 是阻止其向天齐锂业出售股权, 进而迫使 Nutrien 错过印度和中国监管要求的最后期限 Pampa 集团指出, 天齐锂业控股 Talison Lithium, 而后者是天齐锂业与澳大利亚第一大锂生产商 Albemarle Corp(ALB.N) 的合资企业, 那么天齐锂业可能会与位于智利富锂矿区阿塔卡玛盐湖 (Salar de Atacama) 附近的美国 Albemarle 分享所获得的商业和经营机密,Pampa 集团对此表示担忧 中国政府大力推广电动汽车以应对空气污染问题, 同时帮助中国国内汽车制造商打造全球品牌 天齐锂业在这样的背景下出价收购 SQM 的股权 SQM 在智利阿塔卡玛盐湖区所开采的高级锂矿是用于手机 平板电脑以及电动汽车等各种电池的关键成分 12 ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 NOVEMBER 2018

15 BROUGHT TO YOU BY GUANTAO LAW FIRM 关注政府信息公开权利的合理使用 2008 年 5 月 1 日 中华人民共和国政府信息公开条例 的实施, 是中国社会打造透明政府 阳光政府的一项重要举措 该制度虽然未能明确规定信息公开应当遵循 公开为原则, 不公开为例外 的原则, 但是通过国务院的文件 最高法院的司法解释以及众多的审判案例, 除非有法定不公开事由, 政府信息的全面公开已经成为普遍遵守的规则 政府信息公开的实施, 除了政府依法主动公开信息外, 任何公民 法人和其他组织可以根据自身需要, 向政府申请获取政府信息 该制度的实施, 极大便利了公众的知情权, 也成为政府接受社会监督的重要端口 是中国法治进步中和建设中的一件大事 但是该制度中依申请公开信息的设计中, 一是申请人的资格和条件目前没有门槛, 虽然条例规定了申请人需要有 生产生活科研的需要, 但是鉴于这个标准缺乏可衡量性, 现实中很少有政府敢于判断申请人没有特别需求, 实质上导致信息公开申请不需要任何门槛 其次, 在救济权的设计上, 任何人因为申请信息公开的答复不服, 基本上都赋予了行政复议和行政诉讼的权利 ( 不属于信息公开申请的除外 ) 为此, 虽然便利了公众通过信息公开申请获取信息, 以及不能获取的救济途径, 但是, 实践中滋生了一批专业信息公开申请人 所谓的专业信息公开申请人, 他们名义上虽然说是生产生活科研等需要, 但是实质上并非是基于对信息本身的需求而提出申 吕立秋, 合伙人邮箱 :llq@guantao.com 地址 : 北京市西城区金融大街 5 号新盛大厦 B 座 18 层电话 : 邮箱 :guantao@guantao.com 官网 : 请 比较典型的特征是, 一是长期不间断提出政府信息公开申请 ; 个别的申请人以信息公开申请作为本职工作 ; 二是申请量特别大, 这些申请人平均每人每年提出几百件以至于几千件的申请 ; 三是覆盖的地域广泛, 通常情况下, 这些申请可以包括一个省自治区直辖市的地域, 或者遍及多个省市区的范围 这种情况的出现, 为政府信息公开工作的开展造成了比较大的困难, 一是信息公开的部门需要配备更多的人力物力才能完成这些大量的申请 ; 二是这些申请人复议诉讼的比例非常高, 政府需要耗费更多的精力应诉 从社会效果和立法效果看, 这样一批专业信息群体的出现, 并非政府信息公开制度的立法目的, 依申请公开是为个别公众的特别需求设计的, 但是却最终成为为个别专业群体服务的一项制度 ; 作为公共服务的一部分, 政府信息公开不应该失去其公共服务的本质特征 近一两年来, 已经有司法机关在诉讼的角度提出个别申请是滥用诉权 滥用信息公开申请权或者是以信息公开答复不影响其权利义务等角度, 不支持这类人士的诉权 但是从广泛意义上说, 尚没有明确的立法和制度能否对这一特殊现象进行规制, 导致了信息公开领域出现一定的乱象 我们认为, 当务之急, 需要从立法的层面, 关注这一特别的动向, 尽快厘清政府信息公开的目标和任务, 从根本上杜绝公共服务被滥用的情况发生 FINANCE MINISTRY CALLS OUT XIAOMI OVER ACCOUNTING ERRORS 财政部点名小米存在重大会计差错 Chinese authorities smartphone maker Xioami Corp made errors in its accounting, sending the company s Hong Kong-listed shares down amid a wider sell-off of China tech stocks. Xiaomi was one of several internet firms named in the annual inspection by China s Ministry of Finance. Other firms include e-commerce giant Suning.Com Co Ltd and online game developer Wuhu Shunrong Sanqi Interactive Entertainment Network Technology Co Ltd. The ministry in its report said Xiaomi had made tax errors on corporate gifts and had incorrectly recorded some corporate costs. The document noted that the firm has already rectified the errors. It also noted that other companies had made efforts to evade taxes by shifting their profits overseas. A Xiaomi spokeswoman declined to comment on the report. The rebuke comes as the company is facing teething issues following its much-anticipated listing in July. Its stock is down more than 30 percent since the initial public offering (IPO) amid a wider sell off of China tech stocks that has also affected peers Alibaba Group Holding Ltd and Tencent Holdings Ltd. It also comes as China is making revisions to its tax code and cracking down on evasion in a wide-scale cleanup that ensnared A-list movie star Fan Bingbing among others. Despite its tumbling price, Xiaomi has reported healthy smartphone sales in Earlier this month it said it has already surpassed its full-year sales goal of 100 million handsets. 中国政府支持的智能手机制造商小米出现重大会计差错, 导致其在香港上市的股票下跌, 而与此同时中国科技股亦遭大范围抛售 小米是中国财政部年度审查中点名的几家互联网公司之一 其他公司还包括电子商务巨头苏宁电子股份有限公司和网络游戏开发商芜湖顺荣三七互娱网络科技股份有限公司 财政部在公告中称, 小米在对外赠送商品方面存在税务差错, 并且错误地记录了部分公司费用 该文件指出, 小米已经完成对上述问题的整改 报告还指出, 有其他公司通过将利润转移到海外来试图逃税 小米发言人拒绝就此报告发表评论 小米于 7 月份完成了备受期待的上市, 目前正面临着一些棘手的问题 小米完成首次公开募股 (IPO) 以来, 其股价下跌超过 30%, 与此同时中国科技股遭遇大范围抛售 阿里巴巴集团控股有限公司和腾讯控股有限公司也受到了影响 中国正在对其税法进行修订, 并开展大规模清查工作打击逃税行为 中国的一线电影明星范冰冰等也落入此次清查范围 尽管股价下跌, 小米 2018 年智能手机的销售情况依然良好 本月早些时候, 小米表示已经完成并超过了其全球 1 亿部手机的销售目标

16 BRIEFS U.S.-CHINA TRADE BATTLE SHOWS DEEPENING ECONOMIC IMPACT ACROSS ASIA 迹象表明, 美中贸易战对整个亚洲的经济影响加深 The economic impact of the intensifying trade war between Washington and Beijing appeared to deepen last month with factory activity and export orders weakening across Asia and analysts expecting a bigger hit in months to come. In a sign conditions for exporters and factories were deteriorating, manufacturing surveys showed marginal growth in China, a slowdown in South Korea and Indonesia and a contraction in activity in Malaysia and Taiwan. Those figures follow weaker-thanexpected industrial production data from Japan and South Korea, with output in the latter shrinking the most in over 1-1/2 years. By contrast, the U.S. ISM manufacturing survey for October due later was expected to show a much faster growth pace than in Asia, albeit a tad slower than in September, supporting the outlook for further Federal Reserve rate hikes. Worryingly, the prospects for higher U.S. rates could feed back more market pain for the region s externally vulnerable economies Indonesia, India and the Philippines, which have already been forced to raise rates to mitigate a sell-off in currencies, stocks and bonds. You have a tightening of monetary conditions around the world, a slowdown in Chinese demand, and financial market turmoil that affects sentiment and investment decisions, said Aidan Yao, senior Asia EM economist at AXA Investment Managers. Yao said many orders from abroad are still frontloaded in anticipation of yet more tariffs and the impact is still mostly indirect, through the business confidence channel. The real economic shock is yet to come, he said. China s manufacturing sector barely grew last month after stalling in September and export orders contracted further, according to a private sector manufacturing report. An official survey showed the manufacturing sector expanding at its weakest pace in over two years, hurt by slowing demand both externally and domestically. Japan showed more resilience, with activity picking up, though at a slower rate than in a previous flash estimate. The world s third-largest economy faces pressures in other areas with its central bank trimming the inflation outlook, flagging external risks. 中美之间日益激烈的贸易战于上月显示出已对经济产生了更深的影响, 整个亚洲的生产活动和出口订单都在减少 分析师预计未来几个月将会有更大的打击 有迹象表明, 出口商和工厂的环境正在恶化 制造业调查显示中国经济增长缓慢, 韩国和印度尼西亚增长放缓, 而马来西亚和台湾的经济活动出现萎缩 除上述数据之外, 日本和韩国的工业生产数据亦低于预期, 且韩国的生产产量在过去的一年到一年半时间里萎缩量最大 相比之下, 晚些时候公布 10 月份美国供应管理协会 (ISM) 制造业指数则显示出比亚洲更快的增长速度 ( 尽管比 9 月份有所放缓 ), 这支持了美联储进一步加息的预期 令人担忧的是, 美国利率上升的前景可能会使该地区表现脆弱的经济体的市场 包括印度尼西亚 印度和菲律宾 承受更多冲击, 这些经济体已经被迫加息以缓解货币 股票和债券的抛售压力 目前全球货币环境收紧, 中国需求放缓, 金融市场动荡影响了市场情绪和投资决策, 安盛投资管理公司 (AXA Investment Managers) 亚洲新兴市场资深经济学家 Aidan Yao 表示 Yao 表示, 由于预计到会有更多的关税, 而且影响仍然主要是间接的, 通过商业信心渠道, 许多来自国外的订单属于是前期投入 真正的经济冲击尚未到来, 他说 一份私营部门制造业报告显示, 中国制造业在 9 月份停滞不前, 上个月出现勉强增长, 出口订单进一步萎缩 一项官方调查显示, 受国内外需求放缓的影响, 制造业在过去的两年多时间里一直以最低速度增长 日本则表现出更好的快速恢复能力, 经济活动有所增加, 但速度较之前预测的要慢 作为全球第三大经济体, 日本面临其他领域的压力, 其央行削减通胀前景, 遏制外部风险 然而, 其高科技邻居和东南亚经济体看起来更可能暴露在风险之下 星展银行 (DBS) 对运往美国的产品的亚洲供应链进行的分析显示, 韩国 新加坡 马来西亚 菲律宾和台湾的机械和电气设备的风险敞口最大 根据星展银行的报告, 韩国的矿产和石化产品出口以及印度尼西亚的运输业也受到影响 该报告研究了中国从亚洲进口与中国对美国出口之间的相关性 Harpex 指数 CHT-IDX-HARPX 追踪每周集装箱运费变化并衡量全球航运活 14 ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 NOVEMBER 2018

17 BRIEFS Its tech-specialist neighbour and Southeast Asian economies look more exposed, however. A DBS analysis of Asian supply chains for products bound for the United States shows the biggest exposures in machinery and electrical equipment in South Korea, Singapore, Malaysia, the Philippines and Taiwan. South Korea s minerals and petrochemicals exports were also exposed, as well as Indonesia s transportation industry, according to the DBS report, which looked at the correlation between China s imports from Asia and its U.S. exports. The Harpex index CHT-IDX-HARPX, which tracks weekly container shipping rate changes and is a measure of global shipping activity, is now down 25 percent since its June peak. CHINA SLOWDOWN The pressure on China s economy is not just external. Economic growth cooled to its weakest quarterly pace since the global financial crisis at 6.5 percent, exhibiting lacklustre domestic demand by Chinese standards. Things can get worse. Washington has already imposed tariffs on $250 billion worth of Chinese goods, and China has retaliated with duties on $110 billion worth of U.S. goods in a row sparked by U.S. President Donald Trump s demands for sweeping changes to China s intellectual property, industrial subsidies and trade policies. But absent any deal between Trump and Chinese leader Xi Jinping, who are expected to attend a G20 summit this month in Buenos Aires, the recently introduced 10 percent tariffs on $200 billion of Chinese goods will be raised to 25 percent and other tariffs may be placed on the remaining $250 billionor-so of Chinese products which escaped the initial crossfire. As everyone anticipates a further tariff hike...there is still a lot of frontloading going on. After Jan. 1, we expect many trade and economic activities to tumble, said Kevin Lai, senior economist at Daiwa Capital Markets. 动 ; 自 6 月份峰值以来, 目前已下降了 25% 中国经济增速放缓中国经济所面临的压力不仅仅是来自外部的 中国经济的季度增速降至自全球金融危机以来最低水平, 仅为 6.5%, 这表明以中国的标准衡量, 其内需表现低迷 情况可能变得更糟美国政府已经对价值 2500 亿美元的中国商品征收关税 ; 而作为反制, 中国已经对美国总统特朗普要求彻底改变中国知识产权 工业补贴和贸易政策而引发的价值 1100 亿美元的美国商品征收关税 但特朗普与中国领导人习近平之间没有任何协议, 而两位首脑预计将于本月在布宜诺斯艾利斯参加 G20 峰会 最近对价值 2000 亿美元中国商品征收的 10% 关税将提高到 25%, 而在最初的交火中 幸免于难 剩下的价值 2500 亿美元左右的中国商品则可能被加征其他关税 所有人都预料关税会进一步上调... 目前进行中的活动有许多属于是前期的投入 我们预计, 明年 1 月 1 日之后将有许多贸易和经济活动下滑, Daiwa Capital Markets 高级经济学家 Kevin Lai 表示 APPOINTMENTS 律师转所信息 LATERAL HIRES 所际聘用 Xuliang Xu 许旭亮 Leaving 原就职律所 Guang Dong JinFan Law Firm 广东锦帆律师事务所 Joining 现就职律所 Anli Partners 安理律师事务所 Practice 业务领域 Banking & Finance and Dispute Resolution 银行金融与争议解决 Location 地点 Beijing 北京 Xueming Zhai 翟雪明 Leaving 原就职律所 Han Kun Law Offices 汉坤律师事务所 Joining 现就职律所 Anli Partners 安理律师事务所 Practice 业务领域 Arbitration, litigation 仲裁与诉讼 Location 地点 Beijing 北京 Danning Tang 汤淡宁 Leaving 原就职律所 Hui Ye Law Firm 汇业律师事务所 Joining 现就职律所 Duan & Duan 段和段律师事务所 Practice 业务领域 Labor, Patent, Tax 劳动法专利法税法 Location 地点 Beijing 北京 Ling Huang 黄玲 Leaving 原就职律所 Cleary Gottlieb 美国佳利律师事务所 Joining 现就职律所 King & Wood Mallesons 金杜律师事务所 Practice 业务领域 Cross-border M&A, Private Equity 跨境并购私募股权 Location 地点 Beijing 北京 Amarjit Kaur Leaving 原就职律所 Morgan Lewis Stamford 摩根路易斯 - 腾福律师事务所 Joining 现就职律所 Withers 卫达仕律师事务所 Practice 业务领域 Commercial Dispute Resolution 商事争议解决 Location 地点 Singapore 新加坡 Soo Khim Keoy Leaving 原就职律所 Baker McKenzie 贝克 麦坚时律师事务所 Joining 现就职律所 Withers 卫达仕律师事务所 Practice 业务领域 Commercial Dispute Resolution 商事争议解决 Location 地点 Hong Kong 香港 LEGALBUSINESSONLINE.COM/CHINA ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 15

18 COVER STORY 中国最大 30 家律所 16 ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 NOVEMBER 2018

19 COVER STORY 规模化发展的下一步 While size has its advantages, China s law firms are realising that headcount growth is not critical to their success. 规模的确有其不可否认的优势, 中国律所也越来越认识到人员增长只是规模化发展的一个方面 BY INES YANG OUR RESEARCH 我们的调查 Firms were contacted in August 2018 and asked to provide partner and lawyer numbers across their China offices. In the instance where a firm did not make a submission, figures were obtained either from the firm s website, an official Law Society resource, or from last year s submission. ALB accepts no responsibility for the accuracy of information published on a law firm s website. 我们于 2018 年 8 月联系各律师事务所, 请他们提供亚洲办公室合伙人和律师人数 如果律所没有提交数据, 我们将参考该所的网站 律师协会官方资源或者其去年提交的数据 亚洲法律杂志 对这些数据的准确性不承担任何责任 The 2018 ALB Top 30 China Domestic table gives a glimpse into the size and scale of the growth strategies of Chinese law firms. With some having grown faster than others, it is clear that some firms have emphasised this strategy while others have not. After years of high quantitative growth, Chinese law firms are now focusing on qualitative growth: growing larger and becoming stronger. It appears to be mostly based on the conventional notion that market specialisation and recognition follows on from quantitative growth. Growing in size is an inevitable result of becoming and maintaining a fullservice firm, and it can be an indicator of not just the breadth of services provided by the firm but also how well it is doing. The 2018 ALB Top 30 China International table reflects the increasing importance of China s legal market to international law firms. In 2018, some firms scaled down a bit on hiring additional legal professionals in comparison to 2017, while others went on a hiring spree this year, including one which grew by 125%, and five firms joined the group with one immediately climbing up into top 10. Firms are developing a clearer market strategy with both their platform and branding attracting more Chinese legal elites. In this report we analyse the changes in the ranking tables, investigating what leads Chinese law firms growth development and what strategies are being employed by international firms in China. Changes in headcounts, our sole metric, are not simply mathematical. Every decision to change, to preserve, on the rate of change, offers us a window to better understand today s legal service market. CHINESE FIRMS: TO GROW OR NOT TO GROW As seen in the past five years, the growth curve is not always linear. Some firms dropped a bit in certain years but the trend is on spiralling upwards. Some firms showed a bit of concern towards the decline in their numbers. In the minds of many law firms leaders there is an assumed correlation between a good momentum and the headcounts in steady increase. We would rather interpret this as a healthy adjustment, especially for those firms implementing integrated management. This year s annual list saw three firms joining the top ranks: Hui Ye Law Firm, China Commercial Law Firm, and V&T Law Firm, at 23rd, 27th and 28th spot, respectively, with three firms dropping: Tianyuan Law Firm, JunZeJun Law Offices, and Global Law Office. Hylands Law Firm, with 207% growth rate, is a big mover this year, jumping to 13rd from 30th position last year. The mid and bottom half table is also jammed, with some firms ranking above their peers just by having one to four lawyers more than their rivals. Zhongwen Law Firm kept its LEGALBUSINESSONLINE.COM/CHINA ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 17

20 COVER STORY 2018 Rank 2018 年排名 Firm 律所 Total Partners 合伙人数量 Total Associates 律师数量 Total No. of Qualified Lawyers^ 律师总人数 ^ 1 Yingke Law Firm 盈科律师事务所 Dentons 大成律师事务所 Deheng Law Offices 德恒律师事务所 AllBright Law Offices 锦天城律师事务所 Grandall Law Firm 国浩律师事务所 Zhong Yin Law Firm 中银律师事务所 King & Wood Mallesons 金杜律师事务所 Beijing DHH Law Firm 北京德和衡律师事务所 Zhonglun W&D Law Firm 中伦文德律师事务所 Zhong Lun Law Firm 中伦律师事务所 Long An Law Firm 隆安律师事务所 Jincheng Tongda & Neal Law Firm 金诚同达律师事务所 Hylands Law Firm 浩天信和律师事务所 Tahota Law Firm 泰和泰律师事务所 Hiways Law Firm 海华永泰律师事务所 Beijing TianTai Law Firm 北京天驰君泰律师事务所 Guangdong Guanghe Law Firm 广东广和律师事务所 JunHe LLP 君合律师事务所 Guantao Law Firm 观韬中茂律师事务所 Sichuan Mingju Law Firm 四川明炬律师事务所 ETR Law Firm 广东广信君达律师事务所 Fangda Partners 方达律师事务所 Hui Ye Law Firm 汇业律师事务所 Duan & Duan 段和段律师事务所 King & Capital Law Firm 京都律师事务所 Jointide Law Firm 众成清泰律师事务所 China Commercial Law Firm 华商律师事务所 V&T Law Firm 万商天勤律师事务所 Zhongwen Law Firm 中闻律师事务所 East & Concord Partners 天达共和律师事务所 ^ Total No. of Qualified Lawyers refers to the total number of partners, associates, counsel, consultants and foreign counsel. Paralegals, trainees and pupils were not included in this figure. ^ 律师总人数 是指合伙人 律师 法律顾问 咨询顾问和外籍法律顾问的总人数 法律助理 实习生和实习律师不包括在总人数内 18 ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 NOVEMBER 2018

21 COVER STORY 30th place by having one lawyer more than East & Concord Partners. One-third of firms retained their places with slight changes in the top four. Yingke Law Firm once again took the top spot, followed closely by Dentons with Deheng Law Offices and AllBright Law Offices keeping their third and fourth spots, respectively. Yingke had 892 fewer lawyers than Dentons in 2013, but led the 2014 rankings with a 72% growth rate. The rankings took a turn in 2015 when Dentons stepped into the top position but since 2016 Yingke has cemented its place as the largest law firm in China. Yinke and Dentons keep third-placed Deheng or Zhongyin at arm s length. In short term, the two largest firms will see no competitors. Yinke continues its expansion to the total number of 14,000 lawyers by The firm will achieve a 113% growth rate by headcounts based its current 6,584 lawyers in Yingke s expansion strategy is not only base on keeping their headcount high. The firm is also improving its network by strategically charging its way into legal markets across China. We achieved a milestone progress in 2014 and we now become the largest law firm in Asia and fifth largest in the world. In 2015, we started penetrations into China s second and third-tier developed cities by mergers. The managing partner of Yingke tells ALB. Dentons is aiming to enhance its speciality and branding with a steady increase in headcount too. The firm recently announced its promotion of 26 senior partners and one senior counsel. The firm opened its Lanzhou office in 2018 ALB China中国国内30强榜 单 也许可以 管中窥豹 中国律所的规 模化进程 只不过这个进程有急有缓 有主次之分 对于综合所来说 业界共 识是先有规模化再有专业化和品牌化 规模化发展是大所成长的必经之路 也 是衡量大所提供服务广度与经营状况的 重要指标 在经历数年高增长发展阶段 后 中国律所更多转向追求有质量的增 长 做大更要做强 2018 ALB China中国国际30强榜 单 直观展示了中国市场在国际所全球 战略中日益重要的地位 在即将过去的 2018年 个别所相较去年在律师总数上 略有下降 也有律所的人员增幅显著 最高达至125% 今年新上榜的共有5家 所 其中1家直接跻身30强中的前10队 列 面对全球最为活跃的中国法律服务 市场 他们有着越来越明晰的市场定位 与发展战略 同时他们的品牌和平台也 吸引中国法律精英的不断加入 我们试图从榜单数据里的变和不变 解读律所规模化的发展态势 洞悉外 Since 1992 COLLABORATION FOR PEACE AND PROSPERITY Long An Law Firm About Us Established in 1992, Long An Law Firm is one of the earliest private law partnerships in China. With over 200 partners and nearly 800 attorneys in twenty two offices across mainland China and Hong Kong, Long An advises and represents clients ranging from Fortune 500 companies to new economy start ups. As a full service firm, Long An lawyers advise financial institutions, connect technology and capital, resolve disputes, protect intellectual properties and contribute to legal scholarship and public interests. Long An has been consistently ranked among Asia Top 50 Largest Law Firms, China Top 30 Largest Law Firms and China Elite Top 30. Key Practice Area 知识产权 Intellectual Property 资本市场/证券 Capital Markets/Securities Corporate & Legal Consulting 公司法与法律顾问 Private Equity & Investment Funds 私募股权与投资基金 银行与金融 兼并与收购 Mergers & Acquisitions 房地产与建设工程 Real Estate and Construction 国际业务 诉讼 仲裁及其他争议解决 破产重整与清算 劳动法 Labor and Employment 高新技术(电信) 娱乐与媒体 家事与私人财富规划传承 海事海商 环境 能源与自然资源 医药与健康 税务 Pharmaceuticals and Healthcare Technology, Media, Telecoms and Entertainment International Business Family Law & Wealth Planning Litigation, Arbitration and other Dispute Resolution Maritime Banking and Finance Bankruptcy & Reorganization Environment, Energy and Natural Resources Taxation Room 188, Beijing International Club 21 Jianguomenwai Street, Beijing , China Tel : Fax : beijing@longanlaw.com LEGALBUSINESSONLINE.COM/CHINA ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志-中国版 19

22 BROUGHT TO YOU BY TIANTAI LAW FIRM 杨晓明, 高级合伙人 YangXiao ming, Senior Partner 跨界 精耕 天驰君泰的大所专业路 天驰君泰 2015 年由原天驰洪范律所与君泰所合并, 短短三年间律所已发展成千余人规模的综合性律师事务所之一 截止至 2018 年 9 月, 天驰君泰已在上海 广州 深圳等城市设立 17 家分所, 并拥有一支逾 700 人组成的专业律师团队, 在知识产权 TMT 税务 医疗健康 信托等领域都保持着领先的法律服务水平 这一切, 与天驰君泰规模化扩大律所同时不忘修炼内功, 高度注重保障业务质量密不可分 ALB 日前采访了天驰君泰律师事务所主任杨晓明律师, 回首过去, 展望未来 理解行业跨界精耕天驰君泰目前下设 16 个业务部门, 资本市场 银行与金融 公司收购与兼并 房地产项目开发与运营 知识产权 争议解决 刑事辩护 信用管理 税务与财富规划 民用航空 环境资源与医药健康 政府法制与行政诉讼 国际贸易与投资 私募股权与投资基金 破产重整与清算 建设工程与基础设施 信息技术电信传媒与娱乐 各业务领域均由高级合伙人担任部门负责人, 把控部门业务质量审核 这些业务部门中, 有按法律服务专业划分的传统部门, 如刑事辩护, 也有按照行业划分的特色领域部门, 如民用航空 税法与财富规划 医药法律等等 杨晓明律师说道 : 法律行业历来是一个服务行业, 律师的专业能力对于外行而言是所向披靡, 然而对于行业的理解相对缺乏 天驰君泰在 专业化 道路建设上强调 行业性专业, 在业务部门设置和 产学研 一条龙教育上进行法律服务的行业深耕 产学研 的实践是天驰君泰施行法律服务产品化背后的支撑 目前在多个行业领域如企业风险控制 票据金融法 政府法律顾问等领域, 天驰君泰都和各高校有研究合作 例如与中国政法大学 清华大学 人民大学 西南政法大学等国内知名法学院校共同开展计入学分的法学实践教学, 将实践中难以解决的问题, 通过课题研究方式深入挖掘并提供解决方案, 既为律所培养了懂得行业的法律人才, 也使得实务有了更深厚的理论支撑, 以理论反哺实践 深入理解法律服务产品化强调对行业的纵向了解, 是天驰君泰法律服务 产品化 的基础 对于行业, 天驰君泰已经形成了一套非常密切的业务化产品 以高级合伙人王冬梅律师带领的医药法律领域为例, 该团队对于行业理解非常深刻, 在商务谈判 法律环境评价 风险控制等各方面, 天驰君泰的医药业务领域始终和国家药监部门保持一致 目前法律服务市场上, 对于医药领域法律业务除却环球律 地址 : 北京市朝阳区北辰东路八号汇宾大厦 A 座六层 Huibin Building,No.8,Beichen East Road, Chaoyang District, Beijing 电话 : 邮箱 :admin@tiantailaw.com 网址 : 师事务所, 其他律所多从律师的法律服务角度展开, 而天驰君泰根据行业自身的特点来安排法律服务, 例如将医药分为医疗服务和药品工业两大行业, 杨晓明律师介绍道 药品研发 生产 销售等都要涉及到对中国制药法律环境的评价 外资企业 民营企业决定进入该市场领域之后, 需要了解整个行业的法律环境才能决定是否设厂和投入 基于医药行业的特殊性, 在药品上市持有人制度之前, 是以工业作为拉动经济的马车, 而药品上市持有人制度颁布之后, 已经以研发作为动力, 这就决定了律师在做这个业务时, 技术成果转化 产品专有技术的授权使用 技术的输出和引进 产品线的扩展 药品各期临床的法律环境的评价 乃至药品不良反应的处理成为关键 而这些对于行业全流程的了解和对客户需求的深入理解, 才是 法律服务产品化 的真实内涵, 杨晓明律师说 不仅如此, 天驰君泰的律师还被要求在理解行业的基础上推动行业内法律的发展, 例如 如何推动医药行业中受试者的权益维护, 如何寻求一个行业性法律及规范等, 也成为了天驰君泰律师们的使命 以应收帐款管理为核心的信用法律服务部同样是天驰君泰的优势法律服务产品 天驰君泰信用法律部目前有 110 多人的团队, 已经形成坏账预警 - 催收 - 管理 - 收回这一体系化的流程, 以解决客户资金流的风险问题 值得一提的是, 目前信用法律部已经实现全国分所的同步, 上海的业务不再需要北京律师来完成 天驰君泰税务法律业务部亦然, 其法律服务对象为国家税务总局以及各级税务机关 这就意味着税务法律业务团队不仅需要为税收增收行为提供保证, 解读税务新规, 解决国家税务机关所涉及的诉讼, 还需要精通本行业与法律, 推动行业立法的完善 杨晓明律师说 : 让法律服务真正理解行业, 是天驰君泰不断追求的 人员规模化质量规模化人员规模扩张的同时, 天驰君泰非常注重总分所协同发展, 实现总分所品牌 资源 业绩和人员的四个统一也是天驰君泰目标之一 2017 年, 天驰君泰更新了其信息管理系统, 希冀通过信息化来实现律所各部门以及总分所之间的管理 期望我们能让客户看到, 总所和分所除了地域上有差别以外, 它的服务业绩 人员管理 业务状态都是一样的 杨晓明律师说道 律任天驰, 法卫君泰 无论是管理上的一体化, 亦或是法律服务中的跨界精耕, 背后都是天驰君泰人对法律服务品质不断追求

23 BROUGHT TO YOU BY TIANTAI LAW FIRM Development in depth and breadth - An interview with Tiantai Law Firm Tiantai Law Firm was formed by the emergence of two law firms in In just three years, the law firm has developed into one of the most comprehensive Chinese law firms with more than 1,000 employees. As of September 2018, Tiantai has established 17 branches in Shanghai, Guangzhou, Shenzhen and other cities. It has a team of more than 700 professional lawyers in intellectual property, TMT, taxation, health care, trust and other fields and has maintained a leading role in the legal service market. While Tiantai expands, it has not neglected the cultivation of internal strengths, and attaches great importance to ensuring the quality of its services. ALB recently interviewed Yang Xiaoming, director of Tiantai Law Firm, to look at the firm s history as well as its future. Development in depth and breadth Tiantai currently has 16 business units, namely capital markets, banking and finance, corporate acquisitions and mergers, real estate project development and operations, intellectual property, dispute resolution, criminal defense, credit management, tax and wealth planning, civil aviation, environmental resources and health care, government legal and administrative litigation, international trade and investment, private equity and investment funds, bankruptcy reorganization and liquidation, construction and infrastructure, TMT, and entertainment. Each business area is headed by a senior partner who will oversee the quality of service in that department. Among these business units, there are traditional departments such as criminal defense, and there are also specialized sectors such as civil aviation, tax law and wealth planning, medical law, and so on. Yang said: The legal profession has always been a service industry. A lawyer may seem invincible to laymen, but the good understanding of the industry could be a deal breaker. Tiantai emphasizes on industry professions and incorporates conducting better legal services into our business unit setup and the industryuniversity-research cooperation. The industry-university-research cooperation supports the production of legal services by Tiantai. Tiantai has research cooperation with universities in many industries such as enterprise risk control, bill financial law, government legal counsel, and other fields. For example, the credited programmes co-hosted by Tiantai and well-known law schools such as China University of Political Science and Law, Tsinghua University, Renmin University, Southwest University of Political Science and Law bring problems that are difficult to solve in practice to the classroom. It has not only cultivated legal talents who understand the legal industry, but also provided the practices with more profound theoretical support. In-depth understanding of legal service productization Emphasizing the vertical understanding of the industry is the basis for the productization of Tiantai s legal services. Tiantai has formed a very close set of business products. Taking the health care practice led by senior partner Wang Dongmei as an example, the team has a very deep understanding of the industry in the aspects of business negotiation, legal environmental assessment, risk control, and so on. Tiantai s health care unit has always been in sync with the national drug regulators. In the current legal service market, for legal businesses in the pharmaceutical field, apart from the global law firm, other law firms are providing services from the perspective of lawyers, but Tiantai arranges its legal services according to the characteristics of the industry itself, such as dividing the pharmaceutical industry into two sub-industries of medical services and pharmaceutical production, said Yang. The research and development, production and sales of pharmaceuticals are all involved with the evaluation of the Chinese pharmaceutical legal environment. After foreign-funded enterprises and private enterprises decide to enter the market, they need to understand the legal environment of the entire industry to decide whether to set up factories or invest. Before the market authorization holder system was implemented, the industry was pulling the economy. After the system was promulgated, it has been driven by research and development, which means that the conversion of technologies, the authorized use of product know-how, the export and introduction of technology, the expansion of pipelines, the evaluation of the legal landscape during various phases of clinical studies, and even the handling of adverse drug reactions have become key. And these understandings of the entire process of the industry and an in-depth understanding of customer needs are the true meaning of legal service productization, said Yang. Tiantai s lawyers are also expected to promote the development of laws within the industries based on these understandings to address issues such as how to protect the rights and interests of clinical trial subjects and how to formulate new industry laws and regulations. The credit legal service focused on the management of receivable accounts is another core product of Tiantai. The Tiantai Credit Law Department currently has a team of more than 110 lawyers and has formed a bad debt warning, collection, management, recovering system to mitigate the risk for customers. It is worth mentioning that the system has already achieved synchronization between all domestic Tiantai branches. The tax law unit of Tiantai provides services to the State Administration of Taxation and tax authorities at all levels. This means that the tax law business team not only needs to provide guarantees for tax revenue increase, but also interprets new tax regulations and resolves litigation related to the tax authorities. It also needs to be proficient in the industry laws to promote the improvement of industry legislation. To let the industry truly sink into the legal services is a constant pursuit for Tiantai, said Yang. Scaling up As Tiantai hires more professionals, it also pays great attention to the coordinated development between the head office and the branches. One of the goals of the firm is to realize the unifications of the brand, resources, performance and personnel. In 2017, Tiantai updated its information management system in the hopes of realize coordinated management between the various departments of the law firm and the offices through informationization. I hope that we can let our customers see that the service performance, personnel management and business status are the same except for geographical differences between the head office and the branch offices, said Yang. Whether it is management integration, or the development of legal services, the focus on quality legal services is the driving force behind the growth of Tiantai.

24 COVER STORY Finding one s own pace of expansion is important. It s like climbing a mountain. The view may be alluring, but we should know our limits. Guosheng Yang, managing partner of Hui Ye Law Firm 律所找到自己的发展 步调 很重要 规模化发展战略如同登山, 哪里有 风景 ( 即市场需求 ) 就攀登到哪里 ; 自己有多少 体能 ( 即管理和风控能力 ) 就到哪里 - 汇业管理合伙人杨国盛 Gansu province in September 2018, marking the completion of its legal service network across China with the Beijing-headquartered office plus 44 offices in all major cities. According to Dentons, Prior to the merger with Dentons in 2015, the firm was already one of the largest law firms in Asia. After the merger, we set the goal of turning the firm from the largest into the most leading. Now we start to enjoy the benefits of our one global law firm. Deheng held on to its third spot since 2016, expanding to 2521 qualified lawyers. AllBright has also secured its fourth spot since 2016, with 2338 lawyers. The gap between the two this year is very narrow. Zhongyin finished at number six from last year s number eight, nudging King & Wood Mallesons down to number seven. The firm keeps expanding in the past five years but was edged out from the top 3 from 2016 onwards by firms such as Deheng, AllBright, King & Wood Mallesons, Zhong Lun and Grandall. We will continue expanding our team as we grow the business. Size matters as it helps to explore the market and to expand the business, but there is no clear-cut answer to what the optimum size is for a law firm. It is decided in several dimensions such as the strategic goal, the management system, etc., but a wild expansion will only bring risks. says the management of Zhong Yin. This is one of the negative points that a sizable firm is linked. And the risks also include the loss of collegiality. According to research, however, the real issue is that there is virtually no correlation between size and collegiality. As law firms grow, attachment to the overall firm is replaced by attachments to a practice group within the firm. Collegiality is lost as a firm grows at a point somewhere around 100 lawyers or more is not true. Beijing DHH Law Firm also bulked up, moving up one place to number 8 with total number of lawyers to 1306, registered an increase of 12%. The firm made its first entry into the top 10 in 2017 with a growth spurt of 68% compared to DHH s slow expansion means the changes the firm made on its development strategy. Expansion at an exponential rate was the firm s temporary goal when it was starting, then some growth pain surfaced along the way. Despite a temporary slow-down in growing its numbers, DHH now is a sizable law firm in China boasting nearly 40 offices with a total number of 1500 lawyers across the globe. For a sustainable growth, DHH should slow the pace. This is not in conflict with our vision of becoming a global high-end commercial law firm that provides one-stop shop to our China and international clients. The current size of DHH is far not enough to reach that goal but DHH will prioritize growing stronger over growing larger at this stage, observes Kejiang Liu, director, supervisor of international practice and senior partner of the firm. Zhong Lun Law Firm pursued a stable growth all these years and finished at number 10 with 1,211 lawyers. The firm never achieved growth at the cost of revenue per lawyer (RPL) as an expansion strategy. According to Zhong Lun, their annual headcount growth rate should 资所在中国下一步的业务布局 对于律所来说, 人员规模是个绕不掉的客观指标, 但它远远不是一个简单数字的升降 : 每一个变化 不变 渐变, 都将是我们理解和思考这个时代律所发展态势的 入口 中国所 : 做大更要做强从近五年 ALB 数据可看出, 律所规模增长不全是线性上升的, 个别律所在个别年份时有下降, 这里不排除律所往年提交的数据会有个别出入 但有些律所获悉个别年份出现下降时, 第一反应是有点不安, 因为下意识会将 发展势头良好 与 律所规模增长 视为稳固正相关 但换个角度想, 也许正因为律所的一体化程度高 才会在新的年度里综合各项指标和发展情况来定下一步整体发展战略, 可能有些业务继续增员 有些业务适时削减 今年 ALB China 国内 30 强榜单呈现如下变化 : 共有 3 家律所新入榜, 分别是汇业律师事务所 (23 名 ) 华商律师事务所 (27 名 ) 万商天勤律师事务所 (28 名 ), 取而代之的是天元律师事务所 君泽君律师事务所 环球律师事务所今年落榜 我们注意到, 浩天信和律师事务所规模上升位次提升较大, 从去年第 30 跃至今年第 13, 律师总数增长率高达 207% 而在第 11 至 30 的梯队中, 多家律所总人数咬合很紧 : 金诚同达多出浩天信和 3 人, 君合高出观韬中茂 3 人, 段和段高出京都 4 人, 中闻仅比天达共和多出 1 人从而保住榜单第 30 位次 从 不变 上看, 今年约有三分之一律所与去年持平, 其中前四的位次没动, 此 队形 保持了三年, 依次是 : 盈科律师事务所 大成律师事务所 德恒律师事务所 锦天城律师事务所 近五年 ALB 数据显示 : 前三位次时有调整, 但始终在大成 盈科 中银 德恒四家所中流转, 且第一 第二位次的 争夺 咬合很紧 :2013 年大成律师总数比盈科多出 892 人,2014 年盈科实现 72% 的高增长又稳超大成,2015 年大成再次反超,2016 年至今盈科稳坐中国最大规模律所 头把交椅 规模第一 第二的盈科和大成的律师总数, 高出榜单第三位的德恒或中银 2 至 3 倍 短期来看, 盈科与大成的规模很难被其他中国律所超越, 且盈科的规模化发展仍在继续, 盈科的规模化目标是到 2021 年达到 人 以盈科 2018 年的律师总数 6584 人推算,2021 年盈科将实现 113% 的人员增长率 盈科同时也在加强执业人员覆盖上的 22 ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 NOVEMBER 2018

25 COVER STORY be about 50% of the firm s growth rate of total revenue, then the firm s annual profitability would not suffer and the firm s revenue per partner (RPP) would not decrease. Some firms weren t included in the top five when it comes to the headcounts but they would be in the top five when it comes to the total revenue. It is a question of RPL, RPP, profit equity per partner (PEP), or management efficiency. Zhong Lun takes a middle road in both headcount growth and revenue growth. says Wenjun Qiao, executive director of Zhong Lun. Hui Ye Law Firm, one of the new entrants this year, is another interesting firm to watch. It registered at number 23 and, in the past two years, was also the winner of ALB fastest growing law firms. The firm follows a growth strategy that features strict quality control and industry-driven expansion. According to Guosheng Yang, managing partner of Hui Ye, finding one s own expansion pace is important. It s like climbing mountains, landscape is always alluring but we should know our limits. A number of managing partners told ALB that growing in size is not just an option but an inevitable path, which rings particularly true to full-service firms. The question involves three dimensions: is there an optimum size for law firms? any indicators to define the optimum size? what major advantages a sizable firm could bring? According to our interview results, size has six major advantages, namely: larger firms can provide service across all major practice areas; larger firms are more risk-resilient with multiple revenue streams; 纵深布局 2014 年事务所规模化建设成果显著, 盈科现已成为亚洲规模第一大所 全球规模第五大所 2015 年开始, 我们的规模化布局从一线城市开始逐渐向二三线发达地级城市渗透, 综合性大所走向了合并之路 盈科律师事务所管理合伙人告诉 ALB 大成下一步发展重点放在了夯实专业化和品牌化上, 同时人员规模保持稳步增长 近日, 大成内部新晋升了 26 位高级合伙人和 1 位高级顾问 截至 2018 年 9 月大成兰州分所的开业, 正式标志着大成基本完成了国内法律服务网络的搭建, 形成了北京总部和 44 家分所的国内布局, 覆盖全部的国内省级区域 大成管理层告诉 ALB, 2015 年与 Dentons 合并之前, 大成已是亚洲规模大所, 合并之后大成就提出 从最大到领先 的目标和理念 目前, 大成全球资源的整合优势开始逐渐显现 今年 探花 位次的德恒在 2016 年首次超越中银, 近三年蝉联第三, 律师总数 2018 年升至 2521 人 同自 2016 年, 第四的位次也开始由锦天城稳持, 律师总 LEGALBUSINESSONLINE.COM/CHINA ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 23

26 COVER STORY 2018 Rank 2018 年排名 Firm 律所 Total Partners 合伙人数量 Total Partners 合伙人数量 CHINA 中国 Total Associates 律师数量 Qualified Lawyers 律师总人数 1 Baker McKenzie 贝克 麦坚时 U.S. 美国 Clifford Chance 高伟绅 UK 英国 Morgan Lewis & Bockius 摩根路易斯 U.S. 美国 Simmons & Simmons 西盟斯 UK 英国 DLA Piper 欧华 UK/U.S. 英国 / 美国 Hogan Lovells 霍金路伟 UK/U.S. 英国 / 美国 Stephenson Harwood 罗夏信 UK 英国 Paul Hastings 普衡 U.S. 美国 Linklaters 年利达 UK 英国 Herbert Smith Freehills 史密夫 斐尔 UK/Australia 英国 / 澳大利亚 Kirkland & Ellis 凯易 U.S. 美国 Clyde & Co 其礼 UK 英国 CMS UK/Germany 英国 / 德国 Jones Day 众达 U.S. 美国 Allen & Overy 安理 UK 英国 K&L Gates 高盖茨 U.S. 美国 Sidley Austin 盛德 U.S. 美国 Ashurst 亚司特 UK 英国 larger firms have better partner structure thus leading to better synergy; larger firms are more capable to meet the evolving and sophisticated clients needs; larger firms have better reputations and name recognition; and larger firms have more resources and are more capable to solve the problems when firms grow. Although there is no concrete indicator to measure what the allowable optimum size law firms should have, Wenjun Qiao points out that, there are two benchmarks for references. Firstly, the expansion will not be in conflict with management efficiency and risk control; Secondly, the expansion will not dilute RPL and the annual growth rate of total revenue. Guangzhou-based ETR Law Firm finishes at #21, same as last year, increasing by 34% on headcounts. Xiaohua Wang, the director of ETR Law Firm adds another benchmark, 数今年达至 2338 人 但从今年数据来看, 德恒和锦天城在总数差别上并不太大 排名第 6 的中银较去年提升 2 位 近五年中银在律师总数上保持稳定增长, 但自 2016 年开始, 德恒 锦天城 金杜 中伦 国浩五家所相继发力, 直至 2018 年中银以 55 人的优势超过金杜 中银律师总数保持稳步上升, 将是中银此后一段时间内的发展趋势 适度的规模扩张有利于律所的市场布局及业务开展, 但具体发展到何种规模, 则由律所的战略目标及管理制度决定 ; 如无限制扩张, 将会带来一定的管理风险 中 24 ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 NOVEMBER 2018

27 COVER STORY 19 Reed Smith 礼德 U.S. 美国 Skadden Arps Slate Meagher & Flom 世达 U.S. 美国 White & Case 伟凯 U.S. 美国 Ropes & Gray 瑞格 U.S. 美国 Squire Patton Boggs 翰宇 U.S. 美国 Shearman & Sterling 谢尔曼 思特灵 U.S. 美国 Taylor Wessing 泰乐信 UK 英国 Bird & Bird 鸿鹄 UK 英国 O'Melveny & Myers 美迈斯 U.S. 美国 Orrick Herrington & Sutcliffe 奥睿 U.S. 美国 Norton Rose Fulbright 诺顿罗氏 UK 英国 Duane Morris & Selvam 杜恩 莫里斯 U.S. 美国 LEGALBUSINESSONLINE.COM/CHINA ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 25

28 COVER STORY Strengthening our regional presence in China and throughout Asia is key to developing our global business but our growth is driven by what our clients need and where they need us to be. Every new office and lateral partner addition at the firm has been, and will continue to be, part of a strategic decision to meet and anticipate client needs. It is clear from the work we are already undertaking for both Asia and multinational companies operating in the region, that China is a key component of their own growth strategies, so that will likely continue to be the case for us too. Mitch Dudek, office managing partner in Shanghai at Morgan Lewis & Bockius 加强在亚洲和中国的业务布局是摩根路易斯全球业务布局的关键, 我们的发展战略始终围绕客户需求和客户指引 我们每一处新办公室的开设 每一位新合伙人的加盟, 都与摩根路易斯全球发展战略密不可分 从现行业务来看, 中国市场是我们亚洲及跨国企业客户的发展重点, 同时意味着中国市场也是我们的业务重点 the headcounts of ETR has been kept under control about the percentage of one-twentieth of the total numbers of lawyers in Guangzhou for the sake of avoiding any conflicting interests. ETR s expansion in China and beyond will depend on the marketing demands and the firm s management capability. INTERNATIONAL FIRMS: QUALITY OR QUANTITY Except in 2014 when Hogan Lovells landed on the second place, Baker McKenzie and Clifford Chance dominate the top spots for the past five years. This year, Baker McKenzie continues to lead the list despite having four less lawyers than last year, while Clifford Chance missed the crown by having one less lawyer with 72 in total. Morgan Lewis & Bockius finished on third with 60. Morgan Lewis & Bockius is a big 26 ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 - 摩根路易斯上海办公室管理合伙人 Mitch Dudek mover with 275% growth, jumping to 60 lawyers from 16 in the last two years attributed to its mergers in 2014 and, again, in The other three fastest growing firms in the rankings for the past 12 months are Paul Hastings which increased by 77%, Kirkland & Ellis at 125%, and Sidley Austin s 100%. Paul Hastings notable move catapulted it to the eighth spot from twentieth last year. After adding three corporate partners in the Asia-Pacific this year, the total number of lawyers rose from 22 to 39. Kirkland & Ellis rose to number 11, which shows it values the market in Asia-pacific. As early as 2011, the firm expanded its Hong Kong team by adding eight senior M&A lawyers. Without adding new partners this year the firm still had 20 more lawyers than last year. Sidley Austin saw its place rising to number 17 from 29 with 13 more lawyers including one partner hire from Hogan 银管理合伙人坦言 这也是人员规模常被诟病的地方, 除会带来管理风险, 事务所凝聚力的疏离也常归因为人员总数的无限扩张 但据一项研究显示, 人员向心力的聚合疏离并非有个 临界值 : 一旦律所达到多少人的规模, 凝聚力就开始稀释 相反, 越是具备一定规模的律所, 凝聚力反倒成为一个退而次之的问题 : 个人从所属部门中获得的归属感与向心力, 构成对事务所整体凝聚力的重要支撑 德和衡律师事务所在去年首次进入国内所 30 强前十榜单 2017 年律师总数达至 1161 人, 同比增长 68%;2018 年增至 1306 人, 同比增长 12%, 排名第 8 从增幅上看, 德和衡在发展战略上做了调整 成立之初, 德和衡把做大作为一个阶段性目标, 截至目前在全球已拥有近 40 个办公室, 人员总数 1500 人左右, 具有了一定规模, 但同时快速发展过程中也发现一些问题 从长远来看, 我们需要放缓脚步, 完成从做大到做强的转变 等到做强后, 又会从一个新的起点继续做大和做强, 这是发展的规律 德和衡的愿景和目标是建立一家全球化的 能为中外客户提供 一站式 高端商事法律服务的律所 以此愿景为坐标, 德和衡目前的规模还远远不够, 但短期内相较于规模化, 我们将向强所迈进 德和衡律师事务所主任 国际业务中心总监 高级合伙人刘克江律师告诉 ALB 榜单排第 10 的中伦律师事务所这些年的律师总数也保持着持续增长, 该增长始终以维持和提升全所律师人均创收数额为前提, 在中伦看来, 律师人数的年增长率控制在律所总收入增长率的 50% 左右, 可以确保律所年利润率不被稀释 合伙人人均创收率也能得到不断提升 有些律所的律师总数虽未进前五, 但其可能更注重单个律师的业务能力 单位生产效能以及企业管理效益, 收入总额却是排名前列的 中伦在这方面的战略是兼顾律师总数和收入总额的规模化增长 具体而言, 就是在扩展团队和人员规模的同时, 坚持律师人均创收的标准尺度 中伦律师事务所执委会执行主任乔文骏律师说到 作为今年新入榜三家律所之一的汇业今年排名第 23, 过去两年连续被 ALB China 评为十佳成长律所, 这些和汇业这几年推行的严格质量控制及深耕垂直行业之上的规模发展战略有直接关系 律所找到自己的发展 步调 很重要 规模化发展战略如同登山, 哪里有 风景 ( 即市场需求 ) 就攀登到哪里 ; 自己有 NOVEMBER 2018

29 BROUGHT TO YOU BY HYLANDS LAW FIRM 圆融 诚信 进取 : 一家全球化 综合性律师事务所的发展之道 ALB 专访浩天信和主任刘鸿律师 Cohesiveness, integrity, and endeavor - the philosophy of becoming an international and comprehensive law firm - An Interview with Hylands Law Firm s Partner and Director Liu Hong 刘鸿, 浩天信和律师事务所主任, 合伙人 Hong Liu, Director and Partner of Hylands Law Firm 地址 : 中国北京市朝阳区东三环中路 5 号财富金融中心 12 层邮编 : Headquarters - 12F Fortune Financial Center (FFC), No.5 Dongsanhuan Zhong Road, Chaoyang District, Beijing , China 总机 /T: 传真 /F: 网址 :Hylands@hylandslaw.com ALB: 浩天信和近年来在业界取得了备受瞩目的成绩, 请您简单介绍一下 刘鸿律师 : 如您所说, 自 2015 年以来, 我们确实进入了一个相对快速的发展时期 我们的律师人数不断增加, 各地分所数量逐年上升, 事务所营业额也在 2018 年 ( 前三季度 ) 同比增长 50% 如今, 浩天信和已经拥有了一支 20 个分所 近 300 位合伙人 1000 名执业律师的专业队伍 应当说, 从各个方面来看, 我们确实取得了长足的进步 ALB: 取得上述成绩, 浩天信和的发展之道是什么? 刘鸿律师 : 浩天信和的发展之道在于其 圆融 诚信 进取 的企业文化 圆融, 即海纳百川 融通无碍 近年来, 我们在各地分所的建设上卓有成效, 相当数量的案件由两地甚至多地律师联合处理 分工合作, 圆融 是各团队 各部门之间的润滑剂, 也是我们不断吸引优秀人才的凝聚力 诚信, 对内表现为同事之间以邻为友 以诚相待 我们常说 无兄弟, 不合伙, 人合 是事务所发展壮大的根本 在律师与客户之间, 诚信 则表现为信守承诺 实事求是 所谓 信言不美, 美言不信, 诚信 是赢得客户的不二法宝 进取, 是律师对执业技能精进的不懈追求 如今的法律服务市场日新月异, 作为一家综合性律师事务所, 客户对我们的要求和期待是多方面的 只有在业务上不断进取, 在实践中不断学习 总结和创新, 才能紧跟时代的步伐, 实现自我提升和共同发展 ALB: 浩天信和在争议解决和知识产权领域处于领先地位, 请问还有哪些领域值得重点推荐? 刘鸿律师 : 争议解决和知识产权是我们的传统强项, 一直处于行业领先水平 除此以外, 我们在娱乐传媒 房地产和建设工程 投融资项目 公司证券等领域也取得了优异成绩 近年来, 随着更多优秀人才的加入, 我们在破产重整 不良资产处置等领域也有不俗表现 总的来说, 我们是一家综合性的律师事务所, 能够满足客户全方位 多样化的法律需求 ALB: 请简要介绍一下浩天信和的未来发展规划 刘鸿律师 : 目前, 我们的部分分所和团队是刚刚加入, 彼此之间缺乏充分了解, 业务合作还处在探索阶段 因此, 浩天信和未来的重点工作将会放在优质资源的整合上 此外, 随着习近平总书记 一带一路 战略的深入实施, 进一步加强国际合作, 为中国企业走出去提供法律支持, 也将是本所的重点发展规划之一 我本人和管委会将紧跟党的领导, 准确把握事务所的战略发展方向, 引领和协助全体合伙人共同发展, 不辱使命, 砥砺前行 ALB: Hylands has had remarkable achievements in recent years. Please give us a brief introduction. Liu: As you said, since 2015, we have indeed entered a relatively fast development period. The number of our lawyers has been increasing, the number of local branches has also been growing over the years, and the turnover of the firm has also increased by 50% in 2018 (the first three quarters of 2018). Today, Hylands already has a professional team of 20 branch offices, nearly 300 partners, and 1000 practicing lawyers. It should be said that from all aspects, we have indeed made great progress. ALB: What is the philosophy behind the development of Hylands? Liu: The development of Hylands lies in its corporate culture of cohesiveness, integrity and endeavor. Cohesiveness is the smooth cooperation between Hylands staff. In recent years, we have achieved fruitful results in the construction of local branches. A considerable number of cases have been handled jointly by the two offices and even more lawyers. Unity is the lubricant between the various teams and departments, it is also what s attracting outstanding talents. Integrity, internally means we treat each other as friends with sincerity. We often say that you can t be partners if you re not friends, harmony is the foundation of the firm s development and growth. Externally, between lawyers and clients, integrity is manifested in keeping promises and seeking truth. Integrity is the only magic weapon to win customers. Endeavor is the unremitting pursuit of lawyers for their professional skills. Today s legal services market is changing with each passing day. As a comprehensive law firm, our clients demands and expectations are multifaceted. Only by continuously learning, making progress, summarizing and innovating in practice can we keep up with the market and achieve self-improvement and overall development of the firm. ALB: Hylands is in a leader in dispute resolution and intellectual property related legal services. What other areas are your forte? Liu: Dispute resolution and intellectual property are our traditional strengths and we have always been a leader in the industry. In addition, we have achieved outstanding results in the fields of entertainment media, real estate and construction projects, investment and financing projects, and corporate securities. In recent years, with the addition of more talents, we have also performed well in the fields of bankruptcy reorganization and disposal of non-performing assets. In general, we are a comprehensive law firm that caters to our clients diverse legal needs. ALB: What s Hylands development plan for the future? Liu: At the moment, because some of our branches and teams are new, there is a lack of full understanding between them and we re working on exploring the business cooperation. Therefore, Hylands focus will be placed on the integration of these quality resources. In addition, with the in-depth implementation of President Xi Jinping s One Belt, One Road initiative, further strengthening international cooperation and providing legal support for Chinese enterprises to go global will also be one of the key development plans of the firm. I and the management committee will follow the leadership of the party, accurately grasp the strategic development direction of the firm, as well as lead and assist all partners to develop together.

30 COVER STORY Lovells this year. Hogan Lovells dropped out of the top five from last year, which attributed to several lawyers leaving in According to some sources, the firm closed its Mongolia office last year. Its corporate partners left for Squire Patton Boggs and Simmons & Simmons. Despite the talent drain, Hogan Lovells remains number six in the table this year with the total number of 41 lawyers. New entrants this year include Stephenson Harwood, Skadden Arps Slate Meagher & Flom, Squire Patton Boggs, O Melveny & Myers and Duane Morris & Selvam. Stephenson Harwood took the seventh spot after hiring real estate partner Catriona Berman and capital markets expert Allen Shyu and his 11-lawyer team this April in its Beijing office. The five firms, edged out of the top 30, were Covington & Burling, Sheppard, Mullin, Richter & Hampton, Mayer Brown JSM, Freshfields Bruckhaus Deringer, and Pincent Masons. Covington & Burling and Sheppard, Mullin, Richter & Hampton are two firms that made the first entry last year at number 12 and number 21, respectively, but were both trimmed from the top 30 this year. Norton Rose Fulbright and Bird & Bird, slipped down to number 29 and number 26 from number 14 and number 16, respectively, although they only decreased eight and five lawyers in total this year. Firms in the Top 5, however, present a different picture. Simmons & Simmons and DLA Piper still managed to finish at number 4 with 48 lawyers and number 5 with 47 lawyers, respectively, after losing 10 and 15 lawyers in total this year. The two firms also boast the largest partner cohort in the table. The last five-year ALB rankings show that there is a headcount gap between top 5 or top 7 and the rest in the table, while among the rest, the differences in headcounts are negligible. On instances where the firms have the same number of lawyers, the firms with the greater number of partners were ranked higher. ALB interviewed the top three firms as we believe their growth and strategy in China would provide valuable insights to better understand China s legal service market and its future. Our strategy in China is quite simple: to be the leading combined international/local law platform in China, delivering seamless, top quality international and domestic capability, focused on cross-border and high-end domestic work as trusted advisers for MNCs and PRC clients. To achieve this objective, we established Baker McKenzie FenXun in 2015, the first Joint Operation platform between an international law firm and a Chinese law firm, says Milton Cheng, managing partner of Baker McKenzie s Hong Kong office. Over the past three years, the total number of Baker McKenzie and FenXun lawyers has increased from 109 to 176. We will continue to grow our Joint Operation platform to ensure that we meet our clients evolving needs, as well as our transactional practice capability in China, which is an area of real strength for our firm, and the best way to do so is to deepen our partner bench. The optimum size is dictated by the capabilities our clients expect us to deliver, where those services are needed, and the level of demand for those services. Milton Cheng adds. Clifford Chance s China strategy has been consistent over the years and is based on steady, sustainable growth driven by client needs. Clifford Chance was the first international law firm to open an office in Beijing in 1985 and in Shanghai in Over the past three decades, the firm has a well-established and successful China practice and their Chinese clients see their on-theground capability to execute deals as a differentiator. China is critical to Clifford Chance s growth strategy in Asia Pacific and globally. The firm continues to build up its team by promoting Hong Zhang and 多少 体能 ( 即管理和风控能力 ) 就到哪里 汇业管理合伙人杨国盛律师谈到 受访的诸位管理合伙人均表示, 作为综合性律师事务所, 规模化是发展的必然选择, 这里面同时又涉及三个维度的问题 : 一 律所规模有无量化标准? 二 律所规模效应的好处? 三 如何衡量律所规模达到最佳? 从收集到的反馈来看, 规模化发展的好处显而易见 : 业务领域的布局进一步完善, 专业化水平进一步提升 ; 整体创收上有保证 抗风险能力强 ; 合伙人结构完善, 协同效应得以进一步实现 ; 满足客户多样化 多层次法律服务需求的能力得到增强 ; 规模化发展令品牌溢出效应明显 ; 规模化之后, 事务所能有更多资源和能力解决发展中的问题 但规模化本身没有量化标准, 具体达到什么程度最佳或许取决两个衡量要素 : 一是确保律所管理效能和风控质量, 二是保持并提升律师人均收入和律所利润的同比增长率, 中伦乔文骏律师指出 广信君达律师事务所今年排名与去年均位列第 21 名, 律师总数同比增长 34% 在人员规模这点上, 广信君达律师事务所主任王晓华律师还指出, 广信君达总部的律师人数保持在广州市律师人数的 1/20 以内, 过多会引起利益冲突 ; 国内外分之机构布局与建设规模, 则根据市场需求和律所管理水平来定 外资所在中国 : 客户需求为首要驱动近五年 ALB 中国国际 30 强榜单显示, 前两名基本在贝克 麦坚时律师事务所和高伟绅律师事务所两家间交替,2014 年除外, 霍金路伟律师事务所排至第二 2018 年, 贝克 麦坚时在律师总数上虽同比减少 4 名, 但仍蝉联榜首, 高伟绅则以 72 名律师总数紧随其后, 摩根路易斯律师事务所以 60 名位列第三 摩根路易斯是在 2016 年新上榜的一家美国律师事务所, 两年之间律师总数从 16 人升至 60 人, 增长率高达 275%, 早在 2014 年 11 月兼并了宾汉律师事务所, 并于 2015 年 4 月合并了新加坡的腾福律师事务所 在过去的 12 个月里, 同样在人员规模上实现高增长率的还有另外三家所 : 普衡律师事务所增长了 77%, 凯易律师事务所 125%, 盛德律师事务所 100% 其中,2017 年新上榜的普衡今年名次提升了 12 位, 截至目前其亚太地区今年共新聘三位公司业务合伙人, 律师总数从 22 名跃至 39 名 名次提升 17 位的凯易律师事务所一直以来也重视亚太市场,2011 年其香港办公室一下新增 8 位资深并购律 28 ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 NOVEMBER 2018

31 BROUGHT TO YOU BY YINGKE 盈科律师事务所的专业化建设与创新 Yingke Law Firm s Specialisation and Innovation ALB: 请介绍一下盈科专业化建设的历程? 李华律师 : 专业化建设贯穿盈科发展的全过程, 主要经历了三个重要阶段 :2001 至 2007 年精而专的专业建所阶段 ;2008 至 2013 年以专业部门带动专业化发展的阶段 ; 以及 2014 年起至今的规范整合阶段 ALB: 请介绍一下盈科专业化建设体系? 李华律师 : 盈科全国现有法律服务体系包括 : 盈科研究院负责法律服务新产品的研发及知识管理 ; 盈科律师学院负责业务培训和人才培养 ; 盈科各专业委员会负责法律服务产品的实施指导, 各专业委员会下辖的各分所专业部门负责法律服务产品的对接客户和落地实施 同时, 盈科还设立了六个综合类的法律服务中心, 涵盖了 PPP 不良资产 私人财富管理 区块琏 一带一路 WTO/ 国际贸易救济等法律服务领域 此外, 盈科的专业化建设也贯穿在盈科国际化发展的整个过程中 盈科创建了第一家由中国律所发起创建 命名并管理的国际律所联盟组织 盈科全球法律服务联盟 联盟的服务区域目前涵盖全球 53 个国家的 113 个城市 经过数年的努力, 盈科不仅吸收了众多海外顶尖律所成为联盟的成员, 同时也在盈科内部培养出了一支具有国际专业水准和国际视野的律师团队 ALB: 在自主研发创新 知识管理和人才培养方面, 盈科的专业化如何体现? 李华律师 : 经过不断探索 发展和创新, 研究院已切实成为了盈科法律服务产品的研发基地 法律服务标准化的制订基地 法律服务过程的质量控制基地和法律服务的检核基地 ; 盈科律师学院也成为专业化人才的培养基地, 通过外聘专家顾问以及在各分所筛选各领域优秀的专业律师担任讲师, 从理论到实践对盈科体系内律师进行系列培训 ALB: 盈科的 PPP 法律事务专业部门在专业化建设中的地位? 李华律师 : 盈科 PPP 法律事务研究中心是盈科体系内成立的第一个全国性专门法律事务研究中心, 它集合了盈科各专业委员会 各专业部门的人才, 是一个跨传统法律专业的集合体, 对盈科的专业化及专业整合都是有益的尝试 截止目前, 共计八位盈科律师进入财政部和国家发展改革委政府和社会资本合作 (PPP) 专家库, 专业律师团队带动签约 PPP 项目 271 个 ALB: 在信息时代, 盈科如何利用新技术助力律所专业化建设? 李华律师 : 盈科的信息化一直以自身管理的特色为出发点 最新 3.0 版本的盈科律师事务所全球法律信息化管理云平台结合大数据 可视化 移动和社交 私有云 认识运算 AI 等技术手段, 以解决专业化管理中存在的 信息孤岛 应用孤岛 资源孤岛 难题为工作重心, 实现一站式管理沟通 李华, 盈科律师事务所创始合伙人 全球合伙人 副主任 总部业务指导委员会主任 Li Hua, Yingke s Founding Partner and Deputy Director 地址 : 北京市朝阳区建国门外大街 1 号国贸大厦 B 座 58 层 F/58, China World Tower B, No.1 Jianguomenwai Avenue, Chaoyang District, Beijing, China, 电话 : 网址 : ALB: Can you give us a chronicle of Yingke s development surrounding specialisation? Li: Building a specialized firm has been a theme throughout Yingke Law Firm s history. Yingke s specialization has experienced three important stages: the small and concentrated stage from 2001 to 2007; the professional practicefueled stage from 2008 to 2013; and the standardized integration stage from 2014 to the present. ALB: Can you elaborate on Yingke s specialisation development? Li: Yingke Research Institute is responsible for the R&D and knowledge management of new legal services products; Yingke Lawyers Institute is responsible for business training and personnel training; Yingke s professional committees are responsible for the implementation of legal service products, and the committees of each branch are responsible for the docking of legal service products and our clients. Meanwhile, Yingke has also established six comprehensive legal service centers covering PPP, non-performing assets, private wealth management, blockchain, Belt and Road, WTO/International Trade Relief and other legal services. In addition, Yingke s specialisation also runs through the entire process of the firm s internationalization. Yingke has created the first international law firm alliance founded, named and managed by a Chinese law firm - the Yingke Global Legal Alliance. The Alliance s service area currently covers 113 cities in 53 countries around the world. After several years of hard work, Yingke not only absorbed many overseas top law firms to become members of the alliance, but also cultivated a team of lawyers with international professional standards and vision within the firm. ALB: How does Yingke s specialization manifest itself in independent innovation, knowledge management and talent development? Li: With continuous discovery, development and innovation, Yingke Research Institute has become the base for Yingke s legal service R&D, the base for the of formulating legal service standardization, the base for legal service processes quality control and the base for the inspection of legal services. Yingke s Lawyers Institute has also become a training base for specialized talents. With external expert consultants and excellent lawyers selected from the branches as lecturers, the talents are trained in a systematic way where theories and practices are combined. ALB: How do you position Yingke s public private partnership (PPP) legal affairs department? Li: Yingke s PPP Legal Affairs Research Center is the first national specialized legal affairs research center built within Yingke s system. It brings together talents of various professional committees and departments from Yingke. It is a collection of different traditional legal practices. It is also an effort towards the overall specialization and professional integration of the firm. That effort has been proven effective and has already generated necessary experiences for the subsequent similar centers. So far, a total of eight Yingke lawyers have been added to the Ministry of Finance and the National Development and Reform Commission s China Public Private Partnerships Centre expert pool, and they have contributed to the signing of 271 PPP projects. ALB: In the digital age, how does Yingke use new technologies to help with the development of the firm? Li: Yingke s informatization has always stemmed from Yingke s own management characteristics. The latest 3.0 version of Yingke s global legal information management cloud platform combines big data, visualization, mobile and social, private cloud, cognitive computing, and AI technology. The platform aims to address issues such as the isolated information, isolated application and isolated resources to achieve a one-stop management solution.

32 COVER STORY Yong Bai, who are part of the six partners promoted across Asia Pacific, as new partners in mainland China earlier this year. Terence Foo, China Co-Managing partner of Clifford Chance, told ALB that, In terms of recruitment, we continue with our long-term strategy of recruiting the brightest legal minds, offering unrivalled training and exposure, and developing our local talent to become worldclass international lawyers. In recent years, Clifford Chance has seen a steady flow of work from their Chinese clients who are going out, including leading Chinese SOEs, POEs, technology companies, funds and financial institutions. To serve these clients well, the firm has developed a sizable bilingual team on-the-ground in mainland China across all major practice areas. This enables us to have advised our clients who have undertaken high profile and milestone transactions, Foo tells ALB. Strengthening our regional presence in China and throughout Asia is key to developing our global business but our growth is driven by what our clients need and where they need us to be. Every new office and lateral partner addition at the firm has been, and will continue to be, part of a strategic decision to meet and anticipate client needs. It is clear from the work we are already undertaking for both Asia and multinational companies operating in the region, that China is a key component of their own growth strategies, so that will likely continue to be the case for us too, Mitch Dudek says, office managing partner in Shanghai at Morgan Lewis. HOW TO RECRUIT EFFECTIVELY The percentage of partner addition from internal promotion or lateral hires tells a lot about law firms recruitment and growth strategy. From our interview surveys, Firms like Hui Ye, Dentons, TianTai, ETR and Zhong 师, 今年的合伙人数目虽与去年持平, 但律师总数增加了 20 人 名次提升 12 位的盛德国际律师事务所今年只从霍金路伟聘来一位金融业务合伙人, 但律师总数相较去年提升了 13 名 从 ALB 近五年数据不难看出, 霍金路伟的律师总数在 2017 年退出了榜单前五队列, 这跟 2017 年多位合伙人离开有关 据相关报道显示, 从整个亚太范围看, 霍金路伟去年关闭了蒙古国办公室, 东京办公室并购业务主管合伙人加入翰宇国际律师事务所, 香港办公室公司业务合伙人加入西盟斯律师事务所, 流失一位知识产权合伙人和顾问, 该顾问以合伙人身份加入美国尼克松 皮博迪律师事务所 尽管多位合伙人流失, 霍金路伟今年仍位居榜单第 6, 律师总数仍有 41 人 今年新入榜的五家律所分别是 : 罗夏信律师事务所, 世达国际律师事务所, 翰宇国际律师事务所 美迈斯国际律师事务所 杜恩 莫里斯律师事务所 英国所罗夏信在榜单中排第 7, 今年在新进合伙人上动作不小 :4 月初原长盛律师事务所资本市场业务专家 Allen Shyu 及其下面的 11 位律师团队整体加盟罗夏信北京办公室,4 月下旬原高赢国际律师事务所房地产合伙人 Catriona Berman 也加入其北京办公室 相对应, 退出前 30 强榜单的五家律所分别是 : 科文顿 柏灵国际律师事务所 美国盛智律师事务所 孖士打律师事务所 富而德律师事务所 品诚梅森律师事务所 科文顿 柏灵和美国盛智都是 2017 年新入榜且位次还不错, 去年分别以 26 和 22 位律师总数列居第 12 位和 21 位, 今年双双落榜 还有两家律所的位次下滑幅度较大, 诺顿罗氏律师事务所和鸿鹄律师事务所分别下滑 15 位和 10 位, 但两家所在律师总数上只减少了 8 名和 5 名 而榜单前五的西盟斯律师事务所和欧华律师事务所, 其律师总数较去年分别减少了 10 名和 15 名, 但排名上没有大动, 西盟斯今 年仍以 48 名律师总数位居第 4, 欧华以 47 名律师总数位居第 5, 且两家所的合伙人数量是 30 强榜单中最多的 从 ALB 近五年榜单数据或许可以看到这个现象背后的发生 :30 强榜单中前 5 或前 7 和剩下的 20 余家律所在律师总数上仍存一定差距, 但 20 余家律所之间的差别甚微, 且律师总数相同情况也时有发生, 合伙人数量较多的一家则排名靠前 ALB 采访了今年榜单前三的国际所, 他们在中国的发展战略以及未来布局也为我们把握中国法律市场走向提供了重要借鉴 贝克 麦坚时律师事务所香港办公室管理合伙人郑维明律师告诉 ALB, 我们在中国的发展战略可简单概括为 : 成为一家能为客户带来全球视角并深刻理解当地法律的领先联营办公室, 我们专注于跨境和高端复杂业务 基于该战略, 贝克 麦坚时与奋迅在 2015 年联营, 成为中国第一个中外律所联营的范例 过去三年, 联营办公室总人数从 109 人拓展到 176 人 保持整体上的扩张是为了更好满足客户不断变化的需求 接下来, 我们将继续增强在中国的交易业务能力, 这同时也是我们的强项, 合伙人队伍的发展必然是实现路径之一 但具体发展到什么规模最佳, 一切由客户需求决定 郑维明律师补充道 高伟绅律师事务所在中国始终保持着稳定 可持续 以客户需求为中心的发展战略 高伟绅早在 1985 年就于北京设立办公室,1993 年于上海设立办公室, 是中国法律服务市场最资深的国际律师事务所之一 高伟绅已在中国有超过三十多年的执业经验, 拥有成熟和业内领先的中国业务 他们的中国客户尤其看重其在当地执行交易的业务能力 中国市场是高伟绅整个亚太乃至全球的重要战略地区之一 高伟绅今年年初在整个亚太地区共晋升了 6 位合伙人, 其中就包括来自中国区的两位合伙人张宏和柏勇 通过晋升来自中国大陆办公室 30 ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 NOVEMBER 2018

33 COVER STORY Yin maintain a balance as they see values on both sides. At Hui Ye, their first-generation partners, partners from internal promotions, and partners from lateral hires all take up one-third in headcounts. This year we promoted more than 20 partners and in the meantime our internal promotion pipeline functions well. Next step, we aim to explore EU and South East-Asia market, Guosheng Yang says. We didn t set up any fixed percentage in this regard. It all depends on the demands of our clients, and whether the expertise and the outlooks of the partners fit with Dentons. Dentons adds. He Zhang, director of the managing committee of Beijing TianTai Law Firm adds that Firms should expand their partnership both internally and externally. We will continue on increasing the total number of our lawyers. Like many conventional firms, we achieved the integration via mergers and will identify our development path by achieving a better integration. It s a long way ahead but our core value will never change. The same principle applies to ETR and Zhong Yin. Lateral hires are important in adding and strengthening their practices while internal promotion pipeline is well guaranteed. Firms such as Zhong Lun and DHH prefer internal promotions to lateral hires. At Zhong Lun, the current percentage is 4:1 and will increase to 5:1. In the case of DHH, the current percentage is 8:2. The two firms emphasise the importance of a shared value and vision with their own people, but this does not mean they are not seeing the value of lateral hires. Wenjun Qiao adds that, lateral hires 的两位合伙人, 高伟绅的中国团队实力继续得到增强 中国区的人员规模还将持续增加, 这符合高伟绅的长期人才战略 吸引最优秀的法律人才, 为其提供最优质的培训与全球发展平台, 将我们的当地优秀人才培养成为世界级的国际律师 高伟绅律师事务所中国区联席管理合伙人符国成律师谈到 近年, 高伟绅为越来越多的中国企业 走出去 提供法律服务, 这些企业包括领先的国有企业 民营企业 科技公司 基金以及金融机构 为了能够更好地服务这些客户, 高伟绅在中国已配备规模可观 深谙当地法律市场的双语法律团队, 服务领域也涵盖所有重要业务板块, 这使得我们有充分实力和能力帮助客户完成重大交易和里程碑项目 符国成律师补充道 加强在亚洲和中国的业务布局是摩根路易斯全球业务布局的关键, 我们的发展战略始终围绕客户需求和客户指引 我们每一处新办公室的开设 每一 广信君达律师事务所 ETR Law Firm 广信君达律师事务所 (ETR Law Firm) 成立于 1993 年 1 月, 是广东首家采用特殊的普通合伙形式的律所 ETR 总部设在广州, 位于广州第一高楼广州周大福金融中心, 办公面积达 7000 多平方 截至 2018 年 10 月,ETR 总部有合伙人 114 名, 执业律师 518 名 先后在粤港澳大湾区 东南亚 美国等地区设立了 13 家分支机构, 具有依托粤港澳大湾区 辐射全国 服务全球的地缘优势, 是华南地区规模最大的律所之一 Founded in January 1993, ETR Law Firm is the first law firm in Guangdong to adopt a special general partnership Limited Liability Partnership (LLP). Headquartered in Guangzhou, ETR is located in Guangzhou s first tallest building, Guangzhou Chow Tai Fook Financial Center,with an office area of more than 7,000 square meters. As of October 2018, ETR headquarters had 114 earning partners and 518 practicing associates.it has set up 13 branches inthe Guangdong,Hongkong and Macao Greater Bay Area, southeast Asia and the US.Serving the global geographical advantage is one of the largest law firms in South China. ETR 律师以汉 英 日 德 法 韩等多种语言, 为涉及内地与港澳台联动及涉及东南亚圈内 一带一路 沿线参与国家及地区的跨境业务企业 客户提供法律服务, 包括法律顾问服务 国际股权及债务融资 挂牌上市 跨境并购 跨境争议处理解决方案 涉外刑事辩护等 ETR lawyer in Chinese, English, Japanese, German, French, Korean and other languages, involving the cross-border business enterprises and customers involved in the linkages between the Mainland and Hong Kong, Macao and Taiwan and the countries involved in the Belt and Road in the Southeast Asia region,provide legal services which including but not limited to legal advisory services, international equity and debt financing, intellectual property, listing, cross-border mergers and acquisitions, cross-border dispute resolution solutions, foreign-related criminal defense, etc. ETR 还在政府法律顾问 国际融资债券等业务领域有独特的优势, 为 广大客户 大型企业和政府行政机关等提供优质 高效的法律服务 如,ETR 先后为广州市人民政府 广东省司法厅 广州市司法局 广东省公安厅 广东省知识产权局等 70 多家机关提供政府法律顾问服务, 是第十六届亚运会组委会聘请的唯一常年法律顾问 ; 为包括碧桂园集团关联企业 中国南方电网有限责任公司 中国奥园地产集团股份有限公司等在内的许多大型企业发行公司债券 企业融资提供了法律服务 Among them, ETR has unique advantages in bond financing,government legal counsel,etc., providing high quality and high efficiency for customers, large enterprises and government agencies. legal service. For example, ETR has provided government legal advisory services to more than 70 institutions including the Guangzhou Municipal People s Government, the Guangdong Provincial Justice Department, the Guangzhou Municipal Bureau of Justice, the Guangdong Provincial Public Security Department, and the Guangdong Provincial Intellectual Property Office. It is the 16th Asian Games Organizing Committee. The only perennial legal counsel will be hired; legal services are provided for the issuance of corporate bonds and corporate finance for many large enterprises including China Southern Power Grid Co., Ltd. Country Garden Group Affiliated Enterprises and China Aoyuan Real Estate Group Co., Ltd. 总部地址 : 广东省广州市天河区珠江东路 6 号周大福金融中心 29 层 10 层 Address:29&10/F,Chow Tai Fook Finance Centre NO.6 Zhujiang Dong Road, Tianhe District Guangzhou, China, 电话 (Tel): 电子邮箱 ( ):etr@etrlawfirm.com 官方网站 (Website): 分支机构 (Branches): Wuhan Shenzhen Zhongshan Dongguan Qingyuan Foshan Nan sha Baiyun Tokyo BangkokLos Angeles Kuala Lumpur 微信订阅号 (WeChat) LEGALBUSINESSONLINE.COM/CHINA ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 31

34 COVER STORY play a key role in adding the firms new practices, opening new offices to explore regional markets, and strengthening the firms strategic developments. Yingke s data from 2014 to 2018 shows that its lateral hires are a bit higher than its internal promotions, despite the firm emphasizing the necessity and benefits of internal promotions. In our interview surveys, most international firm leaders agree that the Chinese market is highly competitive, complex and fast-evolving, but they are fully prepared to embrace all the opportunities and the challenges by mapping out their next-step business strategy and recruitment plan. Dudek told ALB that Morgan Lewis will continue advising clients on investment strategy, providing immigration and general labour-related advice, protecting the client s brands, navigating regulatory regimes, or counselling on sensitive internal investigations, which requires well-integrated teams of elite lawyers who collaborate to deliver optimal results, not simply a presence in the country. Cheng says that Baker McKenzie will continue to build high-end domestic Chinese and cross-border capability in transactional work where there is strong client demand. The firm will also continue to strengthen its capabilities in IP and dispute resolution where the Joint Operation allows it to deliver PRC dispute resolution services to MNCs that other international firms cannot currently match. The watchword for Baker McKenzie for up-scaling plan in China is efficiency and quality. We believe people and technology combined are key enablers for law firms to deliver high-quality services as efficiently as possible. In the past 18 months, we have made several major tech deployments or expansions globally. Looking ahead, we are already thinking about longer-term investments in advanced technologies and data management to prepare for the significant changes these will bring to the legal industry. Cheng says. 位新合伙人的加盟, 都与摩根路易斯全球发展战略密不可分 从现行业务来看, 中国市场是我们亚洲及跨国企业客户的发展重点, 同时意味着中国市场也是我们的业务重点 摩根路易斯上海办公室管理合伙人 Mitch Dudek 告诉 ALB 备战未来法律服务市场律所每年新增合伙人的内外部比例, 一定程度上反映着律所在人才结构与增长战略上的考量 据 ALB 对榜单中的一些律所调查显示, 汇业 大成 天驰君泰 广信君达 中银等律所在理念及做法上倾向内外比例应大体持平 主张 人才引进 与 人才培养 双轮驱动的汇业, 其早期合伙人 内部晋升合伙人和外部引进合伙人各占三分之一左右 2018 年汇业在全国范围内引进 20 余名合伙人, 同时内部培养及晋升通道也保持通畅 下一步, 我们将继续以市场需求和人才储备为导向, 强化国内网点布局, 并积极拓展欧洲 东南亚等海外市场 汇业杨国盛律师告诉 ALB 大成在内部晋升与外部引进方面没有设置特定比例, 关键取决于法律服务市场的整体发展状况 新增合伙人的个体质素情况, 以及是否符合我们优化合伙人结构的既定策略 我们并不刻意追求人员数目的高增长 大成管理层强调 在天驰君泰律师事务所管委会主任张合律师看来, 合伙人晋升既要兼顾内生发展的需要, 也要看到不断吸收自身短板业务类型合伙人的必要性, 保持律师总量稳定增长仍是我们坚持的发展战略 像多数律所一样, 我们通过合并完成整合, 还需要通过整合形成团队合作确立发展方向, 明确价值取向 未来, 我们还有相当长的整合之路要走, 但合伙理念是走以业务建设为核心的大所之路 对内, 我们会公平公正且严格按照事务所规定晋升合伙人 ; 对外, 则将有 针对性地引进有专业互补性 业务水平高 符合我所合伙人条件的外所律师加盟 广信君达王晓华律师介绍说 另据中银介绍, 中银现行内部晋升制度及人才引进制度, 从内外两方面保障合伙人队伍的竞争力 中伦则以内部晋升为重 中伦的合伙人内部晋升与外部引进的比例目前保持在 4:1 左右, 中伦乔文骏律师告诉 ALB, 未来这一比例可能会趋向 5:1, 因为管理层越来越注重内部合伙人培养, 主要是基于对事务所文化愿景战略和价值观的认同度, 而同时也会考虑外部引进合伙人, 主要由于以下三点 : 一 业务领域上拾遗补缺的需要 ; 二 快速创建新的分所 拓展深耕区域市场的需要 ; 三 某些战略重点的业务领域需要充实有成长潜力的新生代合伙人的需求 同样侧重内部提升的还有德和衡 据刘克江律师介绍说, 德和衡每年新增的合伙人数量中, 内外比例在 8:2, 主要考虑因素同样是共同价值观的追求 盈科也认可内部提升的必要性, 但从其 2014 年至 2018 年数据来看, 盈科内部提升律师占 46.47%, 外部招聘律师占到 53.53% 面对全球竞争最激烈 业务最复杂 市场变化最快的中国市场, 外资所在人才结构与业务布局上也有自己的思考 摩根路易斯表示将继续夯实其在投资战略 移民法 劳动法 商标法 合规监管 内部调查等领域的法律服务, 但更强调团队一体化紧密合作的重要, 而非简单只看重在中国设有办公室 贝克 麦坚时表示将继续强化其在并购 私募 银行金融 项目融资领域的团队阵容, 以满足客户对高端的境内和跨境交易业务法律服务的大量需求 同时, 也将继续强化在知识产权 争议解决领域的团队阵容, 通过联营办公室, 贝克 麦坚时可以向跨国企业客户直接提供中国法下的争议解决法律服务, 目前在中国只有贝克 麦坚时一家国际事务所可以做到这一点 在贝克 麦坚时看来, 人才与科技的高效结合一定是律所未来竞争先机的关键 在过去的 18 个月中, 贝克 麦坚时在全球范围内对法律科技及人工智能在律师工作层面中的应用进行了重大探索并取得重要突破 未来, 我们将继续加大在法律科技及数据管理方面的研究与投入, 为未来法律服务市场的全面革新做好充足准备 郑维明律师谈到 32 ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 NOVEMBER 2018

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36 IN-HOUSE SURVEY 2018 CHINA IN-HOUSE SURVEY 2018 年中国企业法务调查 Recently, ALB invited in-house counsels from different industries across the country to participate in a survey to freely talk about the challenges they face, their relationship with external counsels and their outlook for Nearly 100 in-house counsels from State-owned enterprises (SOE), private businesses and foreign companies took part in the survey whose results are highly relevant as a barometer reflecting the views of in-house professionals. In-house counsels taking the survey were from private businesses (43%), SOEs (23%), multinational corporations ( MNC ) (32%) and other types of organizations. They came from a wide range of industries, with manufacturing accounting for the highest percentage at 29%, followed by technology, media and telecommunications at 16% and real estate, construction at 13%. Nearly half of the respondents were general counsels in their respective companies, and most (77%) were members of a legal and compliance team of 2 to 20 people. The survey showed that in-house legal and compliance teams have maintained a steady growth momentum. In the coming year, nearly 40% of the respondents expected expansion of their teams, while a little over half of the in-house counsels said that the size of their respective teams would remain unchanged. For in-house counsels of Chinese companies, their main tasks include: providing legal advice to the board of directors or senior management, leading or participating in negotiations, and drafting and reviewing contracts. At present, merger and acquisition, external firm/lawyer communication and management, and arbitration and dispute resolution are the three types of matters that occupy the most attention of in-house counsels. On the other hand, the five key performance indicators relied upon by companies to evaluate the work of in-house counsels are: legal initiatives that support business, successfully-completed projects, management of compliance risks, average response time of the in-house team and total legal expenses. In the past year, issues such as enhancing cooperation and complementation awareness, learning new technologies and business models, driving the in-house team to make steady and ongoing improvements, etc. all affected the degree of job satisfaction of in-house counsels. They are also faced with increasingly diverse and complex challenges at work. As the bigger environment continues to evolve, 近期,ALB 邀请全国不同行业的法律顾问们参加了一项调查, 请他们各抒己见, 谈谈自己所面临的挑战 与外部律师的关系, 及对 2019 年的展望 近百名来自国企 民企 外企的法律顾问协助完成了这项调查, 调查结果作为反映法律顾问们想法的晴雨表, 极具启示性 本次参与调查的法律顾问分别来自民企 国企及跨国公司等, 其中民企占比 43%, 国有企业和跨国公司占比分别为 23% 和 32% 本次参与调查的法律顾问涉及各行各业, 其中制造业占比最高 (29%), 其次技术 媒体 电信业 (16%), 及房地产 建筑业 (13% ) 近半被访者为所在企业的总法律顾问, 多数法律顾问所在的法务及合规团队规模为 2 到 20 人 (77%) 调查显示, 公司内部法律和合规团队规模保持了稳中有升的态势 未来一年, 近四成受访者称自己所在的团队会扩大规模, 过半法律顾问表示团队规模会维持不变 对于中国企业的法律顾问们而言, 他们最主要的工作内容包括 : 为董事会或高级管理层提供法律意见, 带领或参与谈判, 以及起草 审核合同 目前, 并购 外部律所 / 律师的沟通及管理 仲裁及争议解决这三类事务占据了法律顾问们最多的精力 而企业衡量法律顾问们工作情况最主要的五个绩效指标为 : 对业务支持的法律举措 成功完成的项目 对合规风险的管理 法律团队的平均响应时间及全部法律费用支出 过去一年中, 增强配合和补位意识 学习新科技 新业态 如何使团队能力稳定 持续的提升 等等方面的问 34 ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 DECEMBER JULY 2018

37 IN-HOUSE SURVEY more than 80% of in-house counsels cited complying with ever-increasing and ever-changing regulations and standards as a major challenge in their work. In addition, setting up effective compliance and reward mechanisms and corporate governance means/ standards are the other two focuses of the respondents. In terms of emerging trends, in 2018, more in-house legal departments started adopting legal technology (61%), but only 23% of the in-house teams surveyed used NewLaw firms or other alternative legal service providers. The survey showed that in-house teams were gradually taking on a more important role in the allocation of tasks between internal and external legal teams. 36% of the respondents said that more legal work had been done internally since last year, while only 11% of those surveyed pointed out increasing workload of external firms or other legal service providers. This phenomenon may be related to respondents degree of satisfaction with external counsels: only 7% of the respondents expressed great satisfaction, while over 90% of the respondents said that while they were largely satisfied with the work of external lawyers they were working with, there was still room for improvement, mainly in terms of slow response, inefficiency and poor advice (24%), lack of attention to our problems (23%), and insufficient understanding of our business/industry (20%). A senior legal manager from a SOE, when speaking of external firms/lawyers, commented that: External lawyers seem not to pay attention to the work you feel most anxious about. A legal department head of another MNC proposed possible improvements that external firms can make in this aspect: I hope that external counsels understand the needs of my legal department and the needs of our company so that they can provide more efficient and competitive solutions. In terms of engaging new external counsels in 2019, in-house counsels cited response speed (31%) as the most important factor, followed by industry expertise (30%) and firm/ lawyer brand and reputation (20%). The in-house counsels surveyed clearly attached great importance to quick response. One of the legal managers involved in the survey said: We had an emergency during the Spring Festival holiday period, and our external lawyers responded quickly and solved our problems after being approached. In addition to professional skills, the external lawyers also demonstrated a professional service attitude, which has made us highly satisfied. When it comes to the channels for finding external counsels, there has been a big change compared to last year. While the majority of respondents last year preferred looking at firm rankings, nearly 70% of this year s respondents said they would contact external lawyers through law firm marketing means (seminars, client reminders, etc.). In addition, over 60% of the respondents indicated that they would also consider choosing from a list of approved legal counsels given by the company or referrals by other external lawyers. 题影响着法律顾问们的工作满意度 他们的工作也面临着愈发多样和复杂的挑战 随着大环境的不断变化, 八成法律顾问认为 符合不断增长变化的法规及标准要求 是他们工作中一大挑战 ; 此外, 建立有效的合规及回报机制 公司治理手段 / 标准 是法律顾问们广泛关注的又一重点 在新兴事物方面,2018 年, 公司内部法务部门在法律科技方面的采用有所增加 (61%), 但仅有 23% 的受访法律团队使用了 新式律所 或其他替代性法律服务商 通过调查我们发现, 在内外部法律团队的工作分配方面, 内部法律团队逐渐扮演着更加重要的角色 36% 的受访者表示去年以来, 更多的法律工作由内部完成 ; 仅有 11% 的受访者表示外部律所或其他法律服务商承担的工作变多 这一现象也许与受访者对外部法律顾问的满意度有关 : 仅 7% 的受访者表示极其满意, 其他超过 9 成的受访者表示基本满意, 但认为目前合作的外部法律顾问仍有可改进的余地, 主要可改进的方面包括 : 速度慢 没有效率 给的建议很糟糕 (24%), 对我们的问题没有足够的关注 (23%), 及 不了解我们公司 / 行业 (20%) 一位来自国有企业的高级法务经理谈到外部律所 / 律师时提到 : 你最着急的工作, 对方律师反而不着急 不重视 另一位跨国公司的部门负责人则提出了在这些方面, 外部律所可以改进的方向 : 希望外部律师能够了解我所在法务部的需要, 了解公司的需要, 这样才能提供更高效和更有竞争力的解决方案 在 2019 年聘用新的外部法律顾问时, 法律顾问们表示最在意的因素为 响应速度 (31%), 其次为 在行业内的专业知识 (30%), 以及 律所或律师的品牌和声誉 (20%) 快速的响应是受访法律顾问们极为重视的一点, 一位参与调查的法务经理举例 : 在春节期间, 我们出现了一个突发事件, 联系外部律师后他们极速的响应解决了我们的问题 除了专业技能外, 还有专业的服务态度, 这令我们非常满意 在寻找外部法律顾问的渠道方面, 和去年相比产生了较大变化 相较去年多数受访者更青睐 律所排名 来寻找外部律师, 今年, 近七成的受访者表示会通过律所营销手段 ( 研讨会 客户提醒等 ) 接触外部律师团队 此外, 六成以上的受访者表示也会考虑 从公司给的经过批准的法律顾问名单中进行选择, 或由其他外部律师进行介绍 LEGALBUSINESSONLINE.COM/CHINA ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 35

38 IN-HOUSE SURVEY Your company is a 您的公司是一家 Part 1: Survey Summary 调查概括 MNC 跨国公司 31.82% POE 民营 43.18% SOE 国有企业 / 央企 22.73% Others 其他 2.27% 注 : 受访者提交的其他公司类型包括公众公司 非政府组织等 What industry are you in? 您公司所在的行业? Banking and Finance 银行及金融服务 8.89% Energy 能源 6.67% Fast Moving Consumer Goods (FMCG) 快速消费品 (FMCG) 2.22% Manufacturing 制造 28.89% Professional & Business Services 专业化及商业服务 4.44% Real Estate, Construction 房地产 建筑 13.33% Technology, Media, Telecommunications 技术 媒体 电信 15.56% Others 其他 20.00% 注 : 受访者提到的其他行业包括医药 生命健康 投资 物流 环保 矿业以及贵金属投资等 How large is your team across China? 贵公司在中国的法务 / 合规团队规模多大? 2-5 people 2-5 人 34.09% 6-20 people 6-20 人 43.18% people 人 6.82% more than 50 people 多于 50 人 15.91% Which of the following would best describe your position? 以下哪项最能准确描述您的职务? Head of Legal / General Counsel 法务总经理 / 总法律顾问 50.00% Legal Counsel 法务人员 9.09% Legal Manager 法务经理 13.64% Senior Mangaer/Department Head 高级法务经理 / 部门主管 25.00% Others 其他 2.27% Part 2: In-House Counsel Work 主要工作内容 Which of the following are your key legal activities and tasks? (Top 3) 以下哪些是您主要的工作内容及任务?( 请选出前三项 ) Advise on internal policies' legal aspect 对内部规定的法律部分给出意见 12.88% Advise or liaise with external legal team 与外部律所联络或给出意见 11.36% 36 ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 DECEMBER 2018

39 IN-HOUSE SURVEY Draft/review contracts 起草 / 审核合同 17.42% Draft internal legal opinions 起草内部法律意见 14.39% Lead or participate in negotiations 带领或参与谈判 21.21% Provide board/c-suite legal advice 为董事会或高级管理层提供法律意见 22.73% Which of the following are key performance indicators that you report regularly to your business? (Top 5) 以下哪些是您的关键绩效指标?( 请选出前五项 ) Average response time of legal department 法律团队的平均响应时间 15.91% Litigation exposure 涉诉情况 9.09% Litigation win rate 胜诉率 8.18% Legal initiatives in support of the business 对业务支持的法律举措 19.55% Management of regulatory risks 对合规风险的管理 18.18% Projects successfully closed 成功完成的项目 19.55% Total legal spend 全部法律费用支出 9.55% Has the adoption of legal technology by your legal department increased in the past year? 在过去的一年中, 您的部门在法律科技方面的采用有增加吗? Yes 有 61.36% No 无 38.64% In 2019, do you expect your team will grow? 2019 年, 您认为您的团队是否会扩大? It will grow 会扩大 38.64% It will shrink 会缩小 0.00% It will remain the same 会保持不变 52.27% Not sure yet 目前不确定 9.09% What kind of work keeps you most busy? (Top 5) 您最为忙碌的工作是哪类?( 请选出前五项 ) Anti-Bribery issues 反贿赂问题 2.73% Arbitration and dispute resolution 仲裁及争议解决 11.82% Competition / Anti-Trust 竞争 / 反垄断 3.64% Employment issues 劳动问题 9.09% Ethics and compliance issues 道德与合规问题 9.09% Information privacy 信息安全 7.27% Outside law firm/lawyer communication and management 外部律所 / 律师的沟通和管理 15.00% Mergers and acquisitions 并购 13.64% Protection of intellectual property 知识产权保护 9.09% Regulatory or governmental changes 监管或政府方面的变化 15.00% Others 其他 3.64% LEGALBUSINESSONLINE.COM/CHINA ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 37

40 IN-HOUSE SURVEY Part 3: Relationships with External Law Firms 与外部律师事务所的关系 Do you use NewLaw firms, flex lawyers or other alternative legal service providers(alsps) 您的团队使用 新式律所 灵活律师或其他替代性的法律服务提供商吗? Yes 是的, 有使用 22.73% No 没有使用 77.27% How has the mix of your external vs internal work changed in the past year? 在过去的一年中, 外部法律工作和内部法律工作的分配有变化吗? More legal work is done internally 更多的法律工作由内部完成 36.36% More legal work is given to external law firms or other service providers 11.36% 更多的法律事务交由外部律所或其他法律服务提供商完成 No change since last year 去年以来无变化 52.27% How satisfied are you with the external counsels you are using? 您对目前使用的外部法律顾问的满意程度如何? Extremely satisfied 极其满意 6.82% Generally satisfied, although there are a few areas for improvement 93.18% 基本满意, 但有一些改进的余地 Not satisfied; there are one or more significant areas of concern 0.00% 不满意, 有一个或多个重大问题 What are your main concerns when it comes to the external counsel you are using or used to use? (Top 3) 涉及您目前使用或使用过的外部法律顾问时, 您的主要关切是哪些方面? ( 最重要的三项 ) Fees are too high or unexplained 费用过高或解释不清 13.64% Partners are either not involved or don t provide input 13.64% 合伙人未参与其中, 或未给出意见 The partners/ lawyers responsible have changed 负责的合伙人 / 律师发生变化 4.55% They are not responsive enough to our concerns 对方对我们的问题没有足够的关注 They are slow, inefficient, or give bad advice 对方速度慢, 没有效率, 给的建议很糟糕 23.48% 24.24% They don t understand our company/industry 对方不了解我们公司 / 行业 20.45% If you were to employ new external counsel in 2019, what factors would influence your selection? (Top 3) 如果 2019 年您需要雇佣新的外部法律顾问, 对您作选择影响最大的因素有哪些?( 请选出前三项 ) 38 ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 DECEMBER 2018

41 IN-HOUSE SURVEY Brand name/reputation of the law firm or lawyer 律所或律师的品牌名称 / 声誉 How do you plan to locate external counsel in 2019? (Top 3) 2019 年, 您计划通过何种方式寻找外部法律顾问?( 前选出前三项 ) From list of company-approved external counsel 从公司给的经过批准的法律顾问名单中进行选择 20.45% Law firm rankings 律所排名 18.18% Law firm marketing (seminars, client alerts, etc) 律所营销手段 ( 研讨会 客户提醒等 ) 22.73% Referrals from other external counsel 由其他外部法律顾问介绍 20.45% Referrals from other in-house lawyers 由公司其他内部律师介绍 18.18% What challenges are most important to you? (Top 5) 对您来说最重要的工作挑战是哪些?( 最重要的五项 ) Career mobility and job satisfaction 职业的流动性及工作满意度 9.55% Coordinating global compliance / operations 协调全球合规 / 法务运营 9.55% Corporate governance initiatives / standards 公司治理手段 / 标准 11.82% Data breaches and protection 数据保护 7.73% Ensuring an ethical corporate culture 保证公司文化符合道德标准 2.73% Establishing effective compliance and reporting programs 建立有效的合规和汇报机制 13.64% Human relations & employment issues 人际关系及劳动问题 3.18% Keeping up with increasing / changing regulation / standards 符合不断增长变化的法规及标准的要求 15.91% legal costs management 法律支出管理 2.73% Outside counsel retention and management 外部法律顾问的延续和管理 4.09% Pressure to do more with less budget and / or staff 来自预算 / 员工减少的情况下做更多工作的压力 Protection of Intellectual Property or related disputes 知识产权保护或相关争议解决 19.70% Expertise in your industry 在贵行业的专业知识 30.30% Favorable fees/billing policies 优惠的收费 / 开票政策 10.61% Geographical reach/office locations 地理覆盖范围 / 办公地点 6.82% Responsiveness 响应速度 30.30% Use of the most up-to-date technology 使用最先进的技术 2.27% 8.64% 6.36% Technology developments 技术发展 4.09% LEGALBUSINESSONLINE.COM/CHINA ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 39

42 OFFSHORE TRIUMPHANT 2018 PROMISING 成绩斐然 2019 充满期待 Offshore law firms have enjoyed a period of plentiful work so far this year. Will 2019 bring more of the same? Offshore lawyers offer their insights. 今年到目前为止, 离岸律师事务所一直在愉快地忙碌着 2019 年是否仍将带来更多的增长机会? 请看离岸律师谈他们的看法 BY ASIAN LEGAL BUSINESS Just as the offshore lawyers Asian Legal Business spoke to last year had predicted, 2018 turned out to be a big boom year for offshore law firms. According to a report by Appleby, the total value of inbound transactions in the first half of this year alone was $216 billion. The sum from these six months alone is almost as much as the total of $232 billion recorded in The 1,344 deals in the first half of 2018 represent a 10 percent decrease from the second half of 2017, which had 1,491 deals. However, the value of the 2018 deals saw a 68 increase. The hefty $62 billion price tag Japan s Takeda Pharmaceutical paid to acquire Jersey incorporated PLC was notes as a huge contributor to the spike. But billion-dollar deals have been a common occurrence this year for offshore jurisdictions. Appleby s Offshore-i report notes 28 reported in the first half of 2018 alone, with 6 of them worth over $5 billion. The finance and insurance sector was a highly active one with 454 deals in H In fact, that sector alone made up for a third of all offshore activity seen in those six months. Meanwhile, the manufacturing ranked highly in terms of value with $82 billion in the same period. Appleby notes that changing dynamics in sectors such as healthcare, retail and the media could see them being more relevant in the near future. Buyers are prepared to lay down large sums for bankable projects and companies that are an excellent strategic fit. They are also ready to do more expansionary deals, allowing their main companies to diversify and build revenue streams in new fields and markets. The report advised that specialisation in key product areas and disposal of non-core assets would make up trending themes. Eighty countries conducted offshore deals in H The Cayman Islands was the jurisdiction where most of the 40 ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 NOVEMBER 2018

43 OFFSHORE Overall, the offshore legal services market has continued to grow at probably unsustainable levels. Offshore firms are looking to have a deeper footprint in Mainland China, but also seeking to diversify in other markets as well. Ian Mann, Harneys 总体而言, 离岸法律服务市场一直以可能无法持续的水平增长 离岸律师事务所希望能够在中国大陆在更深的层面上开展业务, 与此同时也寻求在其他市场上实现多元化 -Ian Mann, 衡力斯律师事务所 deals were handled. A PROSPEROUS YEAR So far this year, there has been more than $216 billion spent in the offshore region, with the average deal size of $161 million representing almost double that of 2017, says Cameron Adderley, partner and global head of corporate at Appleby, in a statement. The average size of an offshore deal is also higher than any other region in the world. Adderley feels there have been echoes of 2015, which he deemed a remarkable year for offshore. That year closed with a total of 2,931 deals worth a combined $420 billion. This year sees outbound deal volume overtake inbound activity. According to Appleby, there were 1,640 outbound deals coming out from the offshore region from January to June this year. The combined total of the deals was worth a hefty $187 billion, with the top 10 outbound deals worth over $3 billion each. Notably, half of the targets in the top 10 were data processing companies. China, the U.S., and the UK were the main locations targeted. Ian Mann, Asia managing partner at Harneys, feels that 2018 has been a momentous year for offshore firms who have had to adapt to more complex, high-value deals in an increasingly pressurised landscape. Mann observes that offshore litigation has continued to boom with Mainland Chinese parties dominating the Court lists. Overall, the offshore legal services market has continued to grow at probably unsustainable levels. Offshore firms are looking to have a deeper footprint in Mainland China, but also seeking to diversify in other markets as well, says Mann. Mark Western, the Hong Kong managing partner at Maples and Calder, describes the year as a prosperous one for offshore legal counsel in Asia. Collectively, we have advised on more Hong Kong IPOs and U.S. IPOs of Cayman/ British Virgin Islands (BVI) incorporated companies in the first nine months of 2018 than the whole of 2017, with aggregate deal size having increased substantially. We have also seen increasing use of Cayman investment funds as investment vehicle of choice for raising capital from investors in the region, says Western. Stephen Adams, managing partner of Collas Crill s Singapore office, concurs that it has been a remarkable year. So far 2018 has been a good year for Collas Crill in Asia. We have experienced year on year growth in the region, driven predominantly by our Cayman and BVI corporate and funds practices. Interest in our dispute resolution practice and corporate services arm has also been up, and we expect that this trend will continue as our offering in the region matures and grows, says Adams. BVI company incorporations 正如 亚洲法律杂志 (ALB) 去年采访过的离岸律师们所预测的那样,2018 年对离岸律师事务所来说是蓬勃发展的一年 Appleby 的一份报告称, 仅今年上半年的入境交易总额就达 2160 亿美元 ; 也就是说, 仅这六个月的交易额总和就几乎达到了 2017 年全年的入境交易总额 2320 亿美元 2018 年上半年的 1344 笔交易与 2017 年下半年的 1491 笔交易相比, 交易量减少了 10%, 但交易额增加了 68% 日本武田制药 (Takeda Pharmaceutical) 以 620 亿美元的价格收购在泽西岛注册成立的爱尔兰生物制药公司 Shire Plc 的多数股权 此项交易被认为是促成 2018 年上半年入境交易额飙升的一个重要因素 但对于离岸司法管辖区来说, 数十亿美元的交易在今年是相当普遍的 Appleby 的 Offshore-i 报告指出, 仅在 2018 年上半年就报告了 28 项, 其中 6 项交易额超过 50 亿美元 2018 年上半年金融和保险业一直非常活跃, 有 454 笔交易成交 事实上, 该行业发生的交易活动占今年上半年所有离岸活动的三分之一 而在交易额方面, 制造业排位很高 该行业今年上半年的交易总额达 820 亿美元 Appleby 指出, 医疗保健 零售和媒体等行业的动态变化可能预示着这些行业在不久的将来更具相关性 买家已经为可融资项目和具有良好战略意义公司准备了大笔资金 他们还准备进行更多的扩张性交易, 使其主要公司能够在新的领域和市场中实现多样化并建立收入来源 该报告指出, 关键产品领域的专业化和非核心资产的处置将构成趋势主题 2018 年上半年, 有 80 个国家进行了离岸交易, 离岸司法管辖区开曼群岛处理了其中大部分交易 繁荣兴旺的一年 到目前为止, 今年在离岸地区的支出已超过 2160 亿美元, 平均交易规模为 1.61 亿美元, 几乎是 2017 年的两倍, Appleby 的合伙人兼全球公司业务负责人 Cameron Adderley 在一份声明中表示 离岸交易的平均规模也高于全球任何其他地区 Adderley 认为这是 2015 年的重现 在他看来 2015 年是 离岸活动不平凡的一 LEGALBUSINESSONLINE.COM/CHINA ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 41

44 OFFSHORE reached their highest point in Q1 of 2018 since 2015, which we attribute to an increased demand from Asia for crossborder investment, joint venture and financing activities that BVI companies are known for. We have also seen a spike in capital markets work across a range of markets, from Australia to the U.S. Piers Alexander, a partner in the Hong Kong office of Conyers Dill & Pearman, notes that Hong Kong, in particular, has been a magnet for the growth experienced this year. There has been strong performance across all sectors of our business in Asia throughout With over 145 Bermuda and Cayman companies out of an approximate total of 160 listed on the Hong Kong Stock Exchange for the year up to the end of September, the Hong Kong stock market is well supported, says Alexander. In addition to the listings so far, Conyers has a healthy pipeline of proposed listings for the remainder of 2018 and into LOOKING AHEAD TO 2019 Adams foresees a similar trend for his firm in As we continue to integrate our Cayman and BVI mergers onto the Collas Crill platform, we see opportunities for growth across the region. However, signals are mixed and geopolitical issues will have an effect on certain areas, says Adams. The banning of Hong Kong s National Party will no doubt create uncertainty around the commitment to the one country, two systems arrangement. Whereas the recent government change in Malaysia has already re-energised that market. As a result, we expect mixed results across the region. Adams also expects that the activity and hype surrounding coin offerings and crypto-assets the biggest trend of to lessen until there is some clarity to BVI company incorporations reached their highest point in Q1 of 2018 since 2015, which we attribute to an increased demand from Asia for crossborder investment, joint venture and financing activities that BVI companies are known for. We have also seen a spike in capital markets work across a range of markets, from Australia to the U.S. Stephen Adams, Collas Crill 自 2015 年以来,BVI 公司的注册数量于 2018 年第一季度达到了最高点, 我们将此归因于亚洲对跨境投资 合资和融资活动的需求增加 ; 众所周知,BVI 公司是实现上述活动的通道 此外我们还看到在多个地区中资本市场激增, 包括澳大利亚和美国 -Stephen Adams,Collas Crill the position in the U.S. The U.S. Securities and Exchange Commission has recently taken action against a crypto hedge fund, which only adds to the uncertainty. We do feel that there will be continued interest in the funds space, both in the traditional Cayman vehicles but we are also seeing interest in the more innovative BVI offerings, he says. The Appleby report notes that private equity is also at a crossroads as funds sit on record amounts of cash reserves. However, high valuations and rising competition from corporations with high spending but low performance expectations present a challenge. But the biggest factor on everyone s 年 那一年共有 2931 笔交易成交, 总交易额达 4200 亿美元 今年的出境交易量超过入境交易活动 根据 Appleby 的数据, 今年 1 月份至 6 月份, 离岸地区共有 1640 笔出境交易 这些交易的总额高达 1870 亿美元, 其中位列前 10 的出境交易中, 每笔交易额均超过 30 亿美元 值得注意的是, 这 10 大出境交易中有一半的交易目标是数据处理公司 中国 美国和英国是主要的目标地点 衡力斯律师事务所的亚洲管理合伙人 Ian Mann 认为, 对于离岸律所来说,2018 年是 重要的一年, 因为他们不得不在日益紧张的环境中适应更复杂 更高额的交易 Mann 指出, 离岸诉讼案件数量持续激增, 其中绝大多数当事人来自中国大陆 总体而言, 离岸法律服务市场一直以可能无法持续的水平增长 离岸律师事务所希望能够在中国大陆在更深的层面上开展业务, 与此同时也寻求在其他市场上实现多元化, Mann 表示 迈普达律师事务所香港管理合伙人 Mark Western 是这样形容 2018 年的 今年对于亚洲地区的离岸法律顾问来说是 繁荣兴旺的 一年 我们在 2018 年前九个月为开曼群岛或英属维尔京群岛 (BVI) 注册公司所提供的关于香港 IPO 和美国 IPO 的法律咨询服务超过了 2017 年全年的, 总交易规模大幅增加 我们还看到, 开曼投资基金被越来越多地用作从该地区的投资者那里筹集资金的首选投资工具, Western 说 Collas Crill 新加坡办事处的执行合伙人 Stephen Adams 也认为 2018 年表现出色 到目前为止,Collas Crill 今年在亚洲的业务表现良好 主要受我们开曼群岛和 BVI 公司和基金业务的推动, 与上年相比, 我们在该地区实现了同期增长 我们的争议解决实务和企业服务业务部门也越来越受到关注 我们预计, 随着我们在该地区的产品日趋成熟和发展, 这种趋势将持续下去, Adams 说 自 2015 年以来,BVI 公司的注册数量于 2018 年第一季度达到了最高点, 我们将此归因于亚洲对跨境投资 合资和融资活动的需求增加 ; 众所周知,BVI 公司是实现上述活动的通道 此外我们还看到在多个地区中资本市场激增, 包括 42 ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 NOVEMBER 2018

45 OFFSHORE mind is the U.S. trade war with China at the moment. The dispute between the two superpowers that has lasted for months does not seem to be coming to an end any time soon. The U.S.-China trade dispute will certainly have a dampening effect on Hong Kong and mainland China, says Adams is full of uncertainty by reason of the trade war, China s unsustainable domestic debt, China s foreign investment strategy, the South China Sea conflict, dependency on the U.S. dollar, currency risk and the emerging market crash. These titanic conflicting positions create a loss of confidence and massive downward pressure, but at the same time may give rise to opportunities in new markets, says Mann. Harneys Mann says that offshore firms closely follow global economic and geopolitical trends in a bid to offer the right services in the right geography. Based on his observations, there are some trends to take note of. Overall, we predict lower demand for Chinese manufacturing as a result of the trade war and a correlative slowing in the global economy. This will lead to a slowing in commercial activity which in turn will mean significant defaults on loan repayments and the insolvency of corporations operating in the region, says Mann. Profit margins are at a knife s edge for many corporates in the region and the climate is ripe to kill off weaker players altogether. This may be partially offset by survival-type M&A to render corporates more durable but will not be enough to maintain the momentum of Growth is cyclical, and it would be naive to think that untrammelled growth will continue in Conyers Alexander anticipates volatility in the Asian capital markets during 2019, which may affect the appetite for new listings on the Asian exchanges. It is difficult to assess the full impact 澳大利亚和美国 康德明律师事务所香港办事处的合伙人 Piers Alexander 指出, 特别是香港一直是今年离岸业务增长的动力 2018 年到目前为止, 我们在亚洲的所有业务部门都表现出色 截至 9 月底,160 家百慕达和开曼公司中有 145 家在香港证券交易所上市, 香港股市得到了良好的支持, Alexander 说 除了目前已经上市的公司以外, 康德明已经承接一系列计划于 2018 年 9 月份之后和 2019 年上市的项目 展望 2019 Adams 预计其律所的业务在 2019 年将会呈现类似的趋势 随着我们继续将我们的开曼群岛和 BVI 并购业务整合到 Collas Crill 平台, 我们看到在整个地区的增长机会 但似乎各种影响都存在, 而且地缘政治问题将对某些地区产生影响, Adams 说 香港禁止 香港民族党 运作无疑会对 一国两制 安排的承诺造成不确定性, 尽管马来西亚新政府近期采取的变化措施重新激活了这个市场 因此, 我们预计整个地区内将会呈现复杂的结果 Adams 还预计, 直到美国的立场开始明朗之前, 围绕代币发行和加密货币资产 (2017 年的最大趋势 ) 的活动和炒作将减少 美国证券交易委员会最近针对一家加密对冲基金采取了行动, 这一举动只增加了不确定性 我们确实认为, 基金领域和传统的开曼群岛离岸特殊目的工具将会持续受到关注 ; 但我们也看到, 更具创新性的 BVI 产品也将受到关注, 他说 Appleby 报告指出, 由于资金占现金储备达到了 创纪录的数额, 私募股权正处于 十字路口 然而, 高估值和来自高支出但低绩效预期的公司的竞争日益激烈, 这构成了挑战 不过每个人心中考虑最多的是目前中美两国之间的贸易战 两个超级大国之间的争端已经持续了数月之久, 目前看来似乎不会很快结束 中美贸易争端肯定会对香港和中国大陆产生抑制作用, Adams 说 Mann 认为 : 贸易战, 中国不可持续的国内债务, 中国的对外投资战略, 南中国海冲突, 对美元的依赖, 货币风险和新兴市场崩盘, 这些因素都使 2019 年充满了不确定性 大国之间的立场对立导致信心丧失和巨大的下行压力, 但同时可能会给新市场带来机会 衡力斯律师事务所的 Mann 表示, 离岸律师事务所密切关注全球经济和地缘政治趋势, 以便能在正确的地理位置提供合适的服务 跟据自己的观察,Mann 提出了一些需要注意的趋势 总的来说, 我们预测贸易战和相关全球经济放缓将导致中国制造业需求下降, 这将导致商业活动放缓, 而这反过来将意味着在该地区开展业务的企业无力偿还巨额贷款甚至破产, Mann 说 该地区的许多企业盈利能力堪忧, 而且淘汰不具竞争力的企业的气候已经成熟 这可能部分被生存型并购所抵消, 从而延长企业的存续时间, 但却不足以维持 2018 年的势头 增长是周期性的, 认为无限制的增长将会在 2019 年继续下去, 这种想法太天真了 康德明律师事务所的 Alexander 预计 2019 年亚洲资本市场将出现波动, 这可能会影响在亚洲交易所上市新股的愿望 很难评估美国和中国已经或将要征收的关税对离岸业务所造成的全部影响, 或者中美两国之间的贸易战将会造成怎样更广泛的影响 很可能会削弱中美两国之间直接的投资和贸易增长, 例如 : 对跨境并购和为美国基金投资于中国筹集资金等造成影响, Alexander 说 然而, 这并不是在亚洲发挥作用的唯一的关系, 虽然交易额较大的贸易协议可能会受到影响, 但从某种程度上说, 无论在全球更广泛的范围内的经济效应如何, 都必须在亚洲继续开展业务 与那些更多地接触全球价值链的企业相比, 拥有本地或跨亚洲业务的公司可能不太会受到影响, 他补充道 投资者压抑已久的对快速增长投资 ( 包括小盘股上市 ) 的需求促成了上市的好时机, Appleby 的 Adderley 表示 经济状况仍然令人鼓舞, 世界许多地方的股票估值仍持高不下, 利率仍然很低 康德明表示, 他们尚未看到对亚洲投资重点基金 ( 无论是单一国家还是泛亚洲 ) 的投资基金融资放缓 这可能是由于一些欧元区国家持续存在政治不确定性, 又有源自美国的保护主义, 因而投资者们一直在寻找在亚洲市场投资的机会 Alexander 说 : 在亚洲尤其是在中国投资确实仍有许多极具吸引力的因素, 虽然那里未必是避风港, 也不一定有未来增长的确定性 ; 但中国可能会通过实施政策性措施来降低全球经济逆风的影响 LEGALBUSINESSONLINE.COM/CHINA ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 43

46 OFFSHORE What we have typically seen is Belt and Road projects structured as joint venture transactions and as investment funds. China financial institutions are familiar with Cayman and BVI joint venture corporate structures, being based on common law and modelled on English company law principles. Mark Western, Maples and Calder 我们通常看到的 一带一路 项目是以合资交易和投资基金的形式构建的 中国的金融机构熟悉开曼群岛和 BVI 合资企业的结构, 此类结构以普通法为基础, 并且采用英国公司法原则 -Mark Western, 迈普达律师事务所 on offshore business of the tariffs imposed, or to be imposed, by the U.S. and China or the wider effect of a trade war between the two countries. It will likely weaken future investment and growth in trade directly between the U.S. and China, affecting cross-border mergers and acquisitions, as well as capital raisings for U.S. funds investing into China, for example, says Alexander. However, that is not the only relationship in play in Asia and, whilst the larger trade deals may be affected, to some extent there is a sense that business must carry on in Asia irrespective of the wider global economic effects. Companies with local or inter- Asian operations may be more insulated in comparison to those with greater exposure to the global value chain, he adds. Pent-up investor demand for fast growth investments, including small-cap listings, makes it a good time to go public, says Appleby s Adderley. Economic conditions remain encouraging, equity valuations remain high in many parts of the world and interest rates remain low. According to Conyers, they have yet to see a slowdown in investment fund capital raising for Asian focused funds, whether single-country or pan-asian. This could be due to the fact that investors have been looking to Asian markets for investment opportunities with the continuing political uncertainty in some Eurozone countries and the protectionism emanating from the U.S. Although not necessarily a safehaven nor a certainty for future growth, the Asian and particularly the China investment story still has many compelling elements; not least that China may implement policies to reduce the impact of the global headwinds, says Alexander. China s economy has not just been outward-looking and much of its consumer sector demand is locally-driven. The Chinese government has previously implemented measures encouraging investment in specific sectors, including healthcare, insurance, education, social services, utilities and entertainment, which it sees as necessary for development in order to effect its planned shift from an economy dependent on corporate debt and governmental stimulus, adds Alexander. He notes that these sectors have been the fastest growing aspects of the Chinese economy and chime with the view that the middle class in China will be a key economic driver. However, Alexander does feel that large cross-border transactions involving U.S.-China investment are likely to be 中国经济不仅仅是外向型经济结构, 其消费行业主要由来自国内的需求驱动 中国政府此前已采取措施鼓励对特定行业投资, 包括医疗保健 保险 教育 社会服务 公用事业和娱乐等 中国政府认为这些行业是发展所必需的, 从而使其能够按照计划从依赖企业债务和政府刺激的经济转型, Alexander 补充道 他指出, 上述这些行业是中国经济增长最快的部分, 并认为中国的中产阶级将成为关键的经济驱动力 但 Alexander 确实认为涉及中美投资的大型跨境交易可能会受到这些国家之间贸易问题的影响, 原因是这种贸易关税和全球增长不确定性导致投资信念动摇 尽管如此, 迈普达律师事务所的 Western 预计 2019 年将会是 总体繁荣增长 的一年, 但由于贸易战的原因, 整个地区的增长程度会有不同 与美国的贸易争端尘埃落定之后, 我们预计中国将会强势反弹, 并对该地区产生光环效应, Western 说道 不过 Western 认为, 在未来一年中, 某些市场可能会从贸易战的影响中较慢地反弹 一些新兴市场, 如菲律宾 越南和印度尼西亚, 将会受到美国加息带来的冲击, Western 说 一带一路但贸易战带来的长期影响可能使亚洲经济更加一体化 贸易战已经为中国在新市场结交新朋友创造了必要条件 美国奉行孤立主义将有助于创造一个新的 以中国为主导的 亚欧大陆, 以欧洲作为地缘政治的补充 而美国将成为其自己孤立的集团, 排除在这个新的经济集团之外, Mann 说 而这只会帮助中国进一步推进其雄心勃勃的基础设施建设倡议 一带一路 倡议 根据亚洲开发银行的估计, 该倡议每年可能需要约 1.7 万亿美元的基础设施投资 Appleby 的一份报告称, 目前出境交易活动的严重下滑可能只是短暂的, 因为中国对 一带一路 的成功志在必得, 这将有助于扭转局面 Alexander 说, 康德明一直协助建立专门用于在目标行业和 一带 沿线 ( 即 : 从中国出发, 经中亚到达欧洲的陆上路线 ) 国家进行投资的离岸实体和投资基金 44 ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 NOVEMBER 2018

47 OFFSHORE affected by the trade issues between those countries on account of the weakened investment conviction which such trade tariffs and global growth uncertainties bring. Nonetheless, Maples Western expects 2019 to be an overall boom year but with differing degrees throughout the region due to the trade war. As the dust settles on the trade dispute with the U.S., we expect China to roar back with a halo effect for the region, says Western. However, Western thinks that some markets might be slower in bouncing back from the effects of the trade war in the coming year. Some of the emerging markets such as the Philippines, Vietnam and Indonesia will suffer as a result of U.S. interests raising, says Western. BELT AND ROAD But a long-term effect from the trade war could be a more integrated Asia. The trade war has created an adds imperative for China to make new friends, in new markets. American isolationism will serve to create a new China dominated Eurasia, with Europe as a geopolitical bolt-on. The U.S. will become its own isolated bloc outside of this new economic bloc, says Mann. And that could only help China s ambitious infrastructure initiative the Belt and Road initiative (BRI) to grow. The plan could entail about $1.7 trillion of investments in infrastructure per annum according to estimates from the Asian Development Bank. According to a report by Appleby, the severe downturn in outbound activity at the moment is likely to be short-lived as China s determination to make a success of the BRI would help turn things around. Alexander says Conyers has assisted on the setting up of offshore entities and investment funds established specifically for investment in the targeted sectors and countries along the Belt - the land route from China across Central-Asia into Europe. But he thinks that it is early days yet, and it is difficult to predict the impact of the Belt and Road over the next year as this is multi-decade long initiative. The opportunities will come from the sheer scale of the project: through the Belt and Road, China will access over 65 countries representing more than 60 percent of the world s population and around 30 percent of global GDP. Not only will China gain new markets, but it will also be in a position to secure key commodities, minerals and energy resources, says Alexander. A core aim is to make it easier for businesses operating in and out of China to reach the middle classes along the Belt and Road. The view being that, if infrastructure development leads to urbanisation in developing countries along the routes, the domestic economies will also develop, he adds. If domestic demand drives activity across the region, the economic landscape for China and other countries along the Belt and Road will move away from debt-fuelled investments and reliance on exports. This will also release over-capacity pressure should China s traditional markets not be able to continue to absorb its available exports. Hong Kong in particular would benefit from this. The BRI will finally take off this year for both onshore and offshore firms in a huge way. This is the latest installment in the seamless balletic duet between Hong Kong lawyers and their offshore colleagues. This will solidify Hong Kong as a global legal centre for the next few decades, says Mann. The great opportunity for Hong Kong lawyers is that dispute resolution for massive infrastructure projects will likely be by way of arbitration in Hong Kong. In June, Harneys established the Belt & Road Initiative Practice Group unusually comprising a veritable mix of lawyers from finance, M&A, corporate and investment funds. We were also 但他认为现在还为时尚早, 很难预测 一带一路 对明年的影响, 因为毕竟该倡议是一项长达数十年的战略 项目的庞大规模将带来机遇 : 通过 一带一路, 中国将覆盖超过 65 个国家, 所涉及人口占世界总人口的 60% 以上, 所涉及 GDP 约占世界 GDP 总量的 30% 左右 中国不仅将获得新的市场, 还将在获得关键商品 矿产和能源资源等方面得到保障, Alexander 说 一个核心目标是让在中国国内和国外经营的企业更容易对 一带一路 沿线的中产阶级产生影响 观点是这样的 : 如果基础设施发展使得沿线的发展中国家日趋城市化, 那么这些国家的国内经济也将得到发展, 他补充道 如果国内需求推动整个地区的活力, 中国和 一带一路 沿线国家的经济格局将摆脱债务推动型的投资和对出口的依赖 如果中国的传统市场无法继续吸收其现有出口, 这也将帮助释放产能过剩的压力 特别是香港将从中受益 一带一路 今年最终将为在岸和离岸律所带来巨大的增长 这是香港律师与其离岸同事之间配合默契的双人舞的最新演出 而且这将巩固香港在接下来的几十年里作为全球法律中心的地位, Mann 说 对于香港律师来说, 一个重要的机遇是, 大型基础设施项目的争议解决可能会通过香港仲裁 今年六月份, 衡力斯成立了由金融 并购 公司和投资基金的律师组成的 一带一路 倡议实务小组, 这样的组合是比较少见的 我们还受香港律师会 (Law Society) 的培训部门法律学会 (Academy of Law) 指派, 组织了首届 一带一路 离岸培训日 所有跨境国际贸易和投资的结构基础将是离岸形式的 Western 认为, 开曼群岛和英属维尔京群岛的结构非常适合支持 一带一路 倡议 我们通常看到的 一带一路 项目是以合资交易和投资基金的形式构建的 中国金融机构熟悉开曼群岛和 BVI 合资企业的结构, 此类结构以普通法为基础, 并且采用英国公司法原则, Western 说 开曼投资基金, 特别是以豁免有限合伙企业形式构建的私募股权基金, 很可能成为投资者为目标项目筹集资金的首选投资工具 ; 这类结构可以满足并实现所有参与者的商业期望 开曼群岛是此 LEGALBUSINESSONLINE.COM/CHINA ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 45

48 OFFSHORE appointed by the Academy of Law, the training wing of the Law Society, to organise the inaugural Belt and Road Initiative Offshore Training Day. As with all cross-border international trade and investment, the foundation of the structuring will be offshore. Western believes Cayman and BVI structures are well placed to support the Belt and Road initiative. What we have typically seen is Belt and Road projects structured as joint venture transactions and as investment funds. China financial institutions are familiar with Cayman and BVI joint venture corporate structures, being based on common law and modelled on English company law principles, says Western. Cayman investment funds, and in particular private equity funds structured as limited exempted partnerships, are likely to be the investment vehicle of choice for raising capital from investors for a target project. Cayman is the leading jurisdiction for such structure that meets and delivers on the commercial expectations of all participants. Others concur about how offshore law firms are well placed to service the BRI though. Offshore financial centres, such as Bermuda, the BVI and the Cayman Islands, (OFCs) have been an integral part of the development and financing of Asian investment, infrastructure projects and crossborder deals for over 30 years and, with the flexibility afforded by the available structures for debt and equity financing, whether as investment funds, capital market offerings or bond issues, the OFCs are ideally positioned to continue that relationship, says Alexander. A recent Institute of Economic Affairs discussion paper also held that offshore centres raise aggregate investment by mitigating instances of double and triple taxation. Many sectors would, and have, benefit from this by turning to offshore jurisdictions and law firms. Cayman Islands investment funds and BVI SPV s and joint ventures will dominate by reason of continued demand from banks and financiers. That is an immutable truth of the global economy. However, the governing law of the finance will continue to be a mix of Hong Kong, English and we predict, Chinese law, says Mann. Adams sees offshore vehicles being utilised as an efficient way to make investments. However, that doesn t mean the five-year-old BRI hasn t had its stumbling blocks. China s BRI will offer opportunities for offshore structures, as traditionally these have been the foundation of crossborder investment. It is, however, fair to say, there have been recent issues with the BRI, for instance, with Malaysia cancelling infrastructure projects, questions over Maldives debt and the Sri Lankan port of Hambantota. It may be that the opportunities for investment in the BRI projects, or ancillary projects, have not yet trickled down to private investors, says Adams. Beyond the BRI, Adams sees another quietly rising opportunity in the region. There is certainly much noise around the BRI and the potential it offers, however, we think that the quiet story which is gathering momentum revolves around the ASEAN Economic Community (AEC) and the potential that offers. AEC represents a market of $2.6 trillion with over 622 million people and by some accounts will be the world s fourth largest economy by 2025 behind the U.S., China and the EU, says Adams. When we consider China and the BRI, coupled with AEC and add to that the potential of India, we expect that this larger region will be the driver of growth for our business over the next 10 years. 类结构的主要管辖区 关于离岸律师事务所如何为 一带一路 服务, 其他受访律师则表示同意 百慕大 英属维尔京群岛和开曼群岛等离岸金融中心作为亚洲投资 基础设施项目和跨境交易的发展和融资的重要组成部分已经有 30 多年的历史了 这些离岸金融中心具有现有债务和股权融资结构所提供的灵活性, 无论是作为投资基金 资本市场发行还是债券发行, 因此非常适合继续保持这种关系, Alexander 说 经济事务研究所 (Institute of Economic Affairs) 最近发布的一份讨论文件也认为, 离岸中心通过减少双重征税和三重征税的情况来提高总投资 通过转向离岸司法管辖区和求助于离岸律师事务所, 许多行业都将或已经从中受益 由于银行和金融家的持续需求, 开曼群岛投资基金和英属维尔京群岛特殊目的实体 (SPV) 及合资企业将占主导地位 这是全球经济中不可改变的事实 但我们预测, 治理金融的法律将会融合香港 英国和中国的法律, Mann 说 Adams 认为离岸工具是一种高效的投资方式 但这并不意味着仅仅开始实施五年的 一带一路 从未遇到过绊脚石 中国的 一带一路 将为离岸结构提供机会, 因为传统上这些都是跨境投资的基础 但实话实说, 一带一路 最近遇到了问题, 例如, 马来西亚取消了基础设施项目, 关于马尔代夫债务和斯里兰卡汉班托塔港口的问题等 可能是由于投资 一带一路 项目或其附属项目的机会尚未延申到私人投资者, Adams 说 除了 一带一路 以外,Adams 还看到有另外一个机会在该地区悄然出现 围绕 一带一路 及其提供的潜在机会肯定有很多讨论的声音 但我们看到围绕着东盟经济共同体及其提供的潜在机会正在悄然聚力, 蓄势待发 东盟经济共同体代表着一个 2.6 万亿美元的市场, 有超过 6.22 亿人口 ; 据一些报道称, 到 2025 年, 东盟经济共同体将成为世界第四大经济体, 仅次于美国 中国和欧盟 Adams 说 中国和 一带一路, 东盟经济共同体, 再加上印度的潜力, 我们预计如此广大的地区将成为未来 10 年我们业务增长的推动力 46 ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 NOVEMBER 2018

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50 ALSP LAW S THIRD WAY With the rise of contract-lawyer offerings in Asia, legal professionals across the region are finding that they have an additional career path beyond a conventional law firm or an in-house role. As these organisations offer lawyers varied working experiences and a sense of control over their working lives, it is no surprise that the life of a flexible lawyer is being seen as increasingly attractive. 随着合同制律师工作岗位在亚洲增加, 亚洲的法律专业人士发现他们在传统的律所或公司法务之外还有另一项职业道路选择 考虑到这些机构为律师提供多样化的工作经验并能让他们对工作有掌控感, 所谓灵活度更高的律师职位越来越有吸引力也就不足为奇了 BY ELIZABETH BEATTIE 法律新路线 Following a stint at a law firm, Alex de Miranda came to the realisation that working for a traditional legal practice was not for him, and he started looking for alternatives. It was at that point that he found Axiom. De Miranda, who has now been with Axiom for close to 10 years, describes the moment he decided to join the NewLaw firm as a happy accident. I was lucky that I came into Axiom right when they were starting in London, and I ve been with them ever since, he says. Currently, de Miranda is working on a project in Hong Kong at a large multinational investment bank, but wherever he works, he is basically embedded in the business. So that s the biggest difference from private practice. It s a bit like being in-house, but on a slightly different path, he explains. Now, despite having had several clients offer him the opportunity to come in-house permanently, the ability to choose the types of assignments he wants to take on, or decide when he wants to take a break has meant de Miranda, who enjoys outdoor pursuits in his off-time, has never made the leap. That flexibility is hard to beat, he says. There is an increasing number of like-minded professionals who agree. Tiffany Lee, a qualified solicitor and consultant with Peerpoint a global platform operated by Allen & Overy previously worked in both private practice and in-house roles in Hong Kong. She was drawn to Peerpoint in 48 ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 DECEMBER JULY 2018

51 ALSP Platforms like Peerpoint are all about offering people a different way to find a purpose in their professional lives. Consultants have the ability to take control over their career and make choices around the types of work they do, while continuing to expand their skillset by undertaking projects that may have otherwise been unavailable to them in a more traditional employment setting. 像 Peerpoint 这样的平台就是要为大家提供一种不同的方式来找到他们的职业目标 顾问能够掌控他们的职业生涯, 并围绕他们所从事的工作类型作出选择, 同时通过参与在较为传统的工作环境中可能无法获得的项目来继续充实自己的技能储备 search of a better work-life balance. Now, contracting for an ALSP has enabled her to pursue her personal interests -- such as studying the Japanese language. With a more flexible working structure, I have also had more time to travel and explore Japanese culture, which has provided me with a valuable opportunity that, most likely, would not have been possible within a permanent role, she says. Meanwhile, for Singapore-based Rachel Wright, who began her career as a lawyer with Lawyers On Demand in 2011 and now works internally within LOD s HQ Team as Legal Director for Asia, the need to spend more time with her young family was a driving factor behind seeking a less traditional working environment. Wright clicked with the LOD team, liked the business model ( which was very novel at the time ) and has not looked back since, she says. I have realised since being at LOD that a real benefit of this model is that your flexible working arrangements can change each time you start a new secondment to suit your situation at that time, Wright says. For example, when my children were younger I wanted to work short days but now they are JCarolyn Aldous, Peerpoint older and at school all day, I am able to work full days but want more flexibility to take time off during the school holidays. It can be harder to change flexible working arrangements when working in a permanent role. GRADUALLY CATCHING ON Over time, the legal markets in Hong Kong and Singapore have gained a more nuanced understanding of the services NewLaw firms provide, as well as the advantages of working with them, but that was not always the case. While clients and businesses now grasp the concept of flexible lawyers, there was some confusion in the early days, recalls de Miranda. Especially before the model was well-known, Occasionally, someone would use the t word: temp. Everyone within Axiom would hit the roof and say no! he laughs. This is not low-level temp work. This is usually work arising a client s very specific need, where they need someone who has the same calibre as a lawyer with a large firm. Basically, we are the kinds of lawyers the client would like to hire, de Miranda says. The other thing that people don t understand is how I can be a lawyer and 在一家律所工作过一段时间后,Alex de Miranda 意识到传统的律所工作并不适合他, 于是他开始寻找其他工作机会 正是在那时, 他邂逅了 Axiom, 现在他已经在 Axiom 工作了近 10 年 De Miranda 将他决定加入新型法律服务公司 Axiom 的那一刻形容为 一个快乐的意外 我很幸运, 当 Axiom 刚在伦敦起家时我就加入了它们, 一直到现在, 他说 现在,de Miranda 正在香港的一家大型跨国投资银行参与一个项目, 但无论他在何处工作, 他 基本上都是参与在业务中 这是与私人律师执业的最大区别 现在的工作有点像企业法律顾问, 但道路略有不同, 他解释道 如今, 尽管有不少客户向他伸出全职企业法律顾问职位的橄榄枝, 但 de Miranda 都没有接受 这是因为现在的工作模式让他能够选择想要接手的业务类型, 或决定什么时候休假进行自己喜欢的户外活动 这种灵活度难以匹敌, 他说 有越来越多志同道合的专业人士同意这一点 Tiffany Lee 是持牌律师, 之前曾在香港从事过私人执业和企业法律顾问工作 她现在是安理国际律师事务所运营的全球平台 Peerpoint 的顾问 她是在寻求更好的工作与生活的平衡时被 Peerpoint 所吸引的 现在, 为 ALSP 工作使她能够追求自己的个人兴趣 例如学习日语 她说 : 由于工作结构更灵活, 我也有更多时间去旅行和探索日本文化 这给我提供了宝贵的机会, 如果我现在全职工作的话, 几乎就不可能有这样的机会了 与此同时, 驻新加坡的 Rachel Wright 在 2011 年于 Lawyers On Demand 开始了她的律师生涯, 她现在是 LOD 总部团队的亚洲法律总监 对她而言, 需要花更多的时间陪伴她年轻的家庭是促使她寻求不那么传统的工作环境的主要原因 Wright 与 LOD 团队一拍即合, 欣赏它们的商业模式 ( 这一模式 在当时非常少见 ) 并且从那时起就没有再回过头了, 她说 自从加入 LOD 后, 我已经意识到这种工作模式的真正好处在于, 每当你开始一项新的借调工作时, 你的灵活工作安排都会发生变化以便配合你当时的生活情况, Wright 说 比如, 当我的孩子们年纪更小的时候, 我希望工作时间短一些 但现在他们长大了, 整天都在学校, 我就可以全天工作, 但希望在 LEGALBUSINESSONLINE.COM/CHINA ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 49

52 ALSP take time off, and at the same time earn a salary, he adds. So many lawyers have no idea how this stuff works, or how somebody could be making a living and actually earn your usual lawyer s salary. It s pretty cool, and I m pretty happy with it. Carolyn Aldous, Peerpoint s managing director for APAC, agrees that NewLaw is now viewed as a mainstream career option for many lawyers. From trainee up to the partner level and among both men and women alike, there is a similar shift in motivations, aspirations, and concerns around careers, with work-life balance being the resounding example of this. Platforms like Peerpoint are all about offering people a different way to find a purpose in their professional lives, she adds. Consultants have the ability to take control over their career and make choices around the types of work they do, while continuing to expand their skillset by undertaking projects that may have otherwise been unavailable to them in a more traditional employment setting. Lesley Hobbs, who was previously with Lawyers On Demand, is now the CEO and co-founder of contract lawyer service Cognatio Law. From her perspective, a key reason lawyers gravitate towards NewLaw is to have more of a say in their professional lives. The ability to choose your working hours and clients, step away from permanent employee status and yet still earn a competitive salary are huge draws for an increasing number of lawyers particularly those working in major global financial centres such as Hong Kong, Singapore, London and New York, Hobbs says. In short, it gives the consultants more control over their careers. They can work when and how they want. As NewLaw firms continue to become more mainstream, lawyers contemplating making the switch should be aware that the work requires skills in certain areas: The quality of work and clients will be high, but lawyers in particular need to be comfortable with working as a consultant and not being given management or decision-making responsibilities, says Hobbs. Flexibility is also key because the consultant could be seconded to between one to three companies in a calendar year and will need to adapt very quickly to each client s working cultures. They may also have to cope with leaner resources in terms of the client s personnel, legal knowhow, immediate access to templates, etc. NO COMPROMISE So, does this better work-life balance and increased family time mean career compromise? Not so, say those who 学校假期时能有更大的灵活度来申请休假 改变一个全职职位的灵活工作安排可能会更难 日渐流行随着时间的推移, 香港和新加坡的法律市场对新型法律服务公司提供的服务以及与它们合作的优势有了更细致的了解, 但情况并非总是如此 de Miranda 回忆说, 虽然客户和企业现在明白了灵活律师这一概念, 但在早期对这一领域的理解还是有不少混乱 特别是在该模式广为所知之前, 偶尔会有人用 t 词 (temp, 临时工 ) Axiom 都会非常生气, 并大声说 不对! 他笑着说 这不是什么低级别的临时工作 这通常是由于客户有非常具体的需求, 他们需要一个与大律所律师具有同等才能的人 基本上, 我们就是客户想要聘请的那类律师, de Miranda 说 很多人不理解的另一点是我如何既当一个律师又能有时间放假, 同时还能赚取薪水, 他补充道 太多的律师不知道这一模式是如何运作的, 或者一个人是如何既能赚取律师普遍所得还能有自己的生活的 这很酷, 我对此很高兴 Peerpoint 亚太区董事总经理 Carolyn Aldous 同意新型法律服务公司现在已经被许多律师视为主流职业选择 无论是实习律师还是合伙人, 无论男女, 他们在职业动机 抱负和关注点方面都有相似的转变, 工作与生活的平衡就是这方面最为显著的一个例子 像 Peerpoint 这样的平台就是要为大家提供一种不同的方式来找到他们的职业目标 顾问能够掌控他们的职业生涯, 并围绕他们所从事的工作类型作出选择, 同时通过参与在较为传统的工作环境中可能无法获得的项目来继续充实自己的技能储备 她补充说 Lesley Hobbs 曾在 Lawyers On Demand 就职, 她现在是合约制律师服务公司 Cognatio Law 的首席执行官兼联合创始人 她认为, 现在律师更能接受新型法律服务公司的一个关键原因是想要在自己的职业生涯中掌握更多的话语权 能够选择工作时间和客户, 不受全职员工身份的拘束, 但还能赚取有竞争力的薪酬, 这对越来越多的律师, 尤其是那些在香港 新加坡 伦敦和纽约等主要全球金融中心工作的律师来说都有巨大的吸引力, Hobbs 说 简而言之, 这一新模式使律师能够更好地掌控自己的职业生涯 他们可以在自己想要工作的时候以自己想要的方式工作 50 ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 DECEMBER 2018

53 ALSP I don t have the typical path of associate to senior associate to partner for instance. To be fair, I think very few people, even in law firms have that anymore. When I started the partnership track was seven years, now it s close to ten, so everyone s career path changed over the past few years. 例如, 我就没有经历过从律师到高级律师再到合伙人的典型晋升路径 我觉得大部分人, 即使是律所的律师, 都很少还有这么死板的模式了 当我刚开始执业时, 当上合伙人要花七年, 现在要花将近十年了, 所以每个人的职业道路都在过去几年里发生了变化 consult for NewLaw firms. Lee considers professional growth a key advantage of her new working arrangement. Because Peerpoint works with highcalibre, international clients, she says she always has access to challenging, top-tier work. It also presents opportunities for me to work outside of litigation and investigations, she says. My career is different in the sense that I have a relatively flexible work schedule and have better control over the split between my professional career and personal life. I am also able to make use of my experience to develop on new roles. Wright adds that for those looking to be a partner in a traditional law firm, working for an ALSP may not help them achieve that goal. However, for those who endeavour to work across a range of different industries and gain exposure to new areas of law which may not be open to them if they were looking for a permanent role, the arrangement works well. This can then open the door for them further down the line if they do decide to look for a permanent role as they may then have the required industry experience. We have had a number of lawyers work for LOD who have transformed Alex de Miranda, Axiom themselves into different types of lawyers, for example, litigators into TMT lawyers, and finance lawyers into general commercial lawyers, and this career option may not have been open to them if they had continued working in a traditional firm. De Miranda, whose career trajectory may be different from that of a lawyer with a traditional firm, suggests the stereotypical career path is not what it once was. I don t have the typical path of associate to senior associate to partner for instance. To be fair, I think very few people, even in law firms, have that anymore. When I started the partnership track was seven years, now it is close to ten. So, everyone s career path changed over the past few years. Nevertheless, he says his work has grown more sophisticated as time has gone on. Working for NewLaw firm has changed the timing of things, but not the progression itself necessarily. For those who work for contract-lawyer firms and enjoy it, taking the less well-worn route and travelling a more eclectic path to seniority is worth it. Working at a traditional firm, de Miranda always saw room in his work for flexibility but remained hampered by traditional firm thinking, the change has been nothing short of revolutionary. Just to give you an example: I started 随着新型法律服务公司日益变得更为主流, 想要进行这一转变的律师应当意识到该工作模式要求他们具备某些方面的技能 : 工作和客户的质量将会很高, 但律师尤其需要适应他们作为顾问的工作身份, 而且他们也不会有管理或决策责任, Hobbs 说 灵活性也很关键, 因为顾问可能在一年内被借调到一到三家公司, 并且需要很快适应每个客户的工作文化 他们可能还必须适应客户在人员 法律知识 可用模板等方面更少的资源 并非职业妥协那么, 获得更好的工作与生活的平衡并有更多的家庭时间是否意味着职业生涯的妥协呢? 那些为新型法律服务公司担任顾问的人士并不这么认为 Lee 认为职业发展是她能从这种新的工作安排中获得的一大优势 因为 Peerpoint 总是与 高素质的国际客户 合作, 她说她总能接触到挑战性强的顶尖工作 这也为我提供了涉猎诉讼和调查之外工作的机会, 她说 我的职业生涯与其他人不同, 因为我的工作时间相对灵活, 可以更好地将工作和个人生活区分开来 我也能利用自己的经验培养自己承担新的角色 Wright 补充说, 对那些希望成为传统律所合伙人的律师来说, 为 ALSP 工作可能无法帮助他们实现这一目标 但是, 对于那些想要在不同行业中工作并接触法律新领域的人来说, 这种工作安排很有效, 因为如果他们寻找全职工作, 可能就接触不到这样的新领域 如果此后他们想要寻找全职工作, 那么现在这种灵活的工作安排可以为他们进一步打开机会之门, 因为到那时他们可能已经拥有了所需的行业经验 有许多为 LOD 工作的律师现在已经转型为不同专业领域的律师, 例如, 诉讼律师转型为 TMT 律师, 金融律师转型为综合商业律师等 如果他们继续在传统的律所工作, 可能就不会有机会作出这样的职业选择 De Miranda 的职业发展轨迹可能与传统律所的律师不同 他说这表明过去刻板的职业道路已经并非人们所想的那样了 例如, 我就没有经历过从律师到高级律师再到合伙人的典型晋升路径 我觉得大部分人, 即使是律所的律师, 都很少还有这么死板的模式了 当我刚开始执业时, 当上合伙人要花七年, 现在要花将近十年了, 所以每个人的职业道路都在过去几年里发生了变化 不过, 他说他的工作随着时间的推移 LEGALBUSINESSONLINE.COM/CHINA ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 51

54 ALSP as an M&A lawyer, so there was really no reason I couldn t pick up a transaction, see it through, and then tell my partners, hey, can I take a little break here and go do this other thing. It couldn t be done because the model was always: No, we need the spare capacity because if another transaction rolls in, you re going to have to be here, says de Miranda. Whereas Axiom looks at it differently. Deals are always coming in, and we have a bench of people that we are able to activate. I think part of the DNA that s a little bit different is that we re willing to look at the employer or resources in a more intelligent way. And in the meantime, de Miranda is also able to take time off work, explore his passions and avoid the dreaded burnout that many lawyers working in traditional firms face. De Miranda predicts that NewLaw will become more popular in the future, although it might take a little while. I think as we, the eccentrics become increasingly prevalent and start talking to people, it will become more common and then began to expand the realm of possibilities you can do as a lawyer. I do see a movement in that direction, he says. In some parts of the industry it is going to be almost impossible to change; in others, I think it s just a matter of getting fully comfortable with taking the risks and giving more flexibility to our attorneys so that they can stay with us longer and this is what made me stay. But while there may be a cultural shift towards flexible working and NewLaw firms, geographically, progress is slow. The Hong Kong and Singapore legal communities may be comfortable with the concept of ALSPs, but expansion beyond these markets is yet to be fully tested, notes Hobbs of Cognatio. The question then becomes when and whether this flexible working model can genuinely take hold in other Asian jurisdictions such as Japan and China, which have tighter labour law regimes than Hong Kong and Singapore, she says. There are certainly opportunities on the client side, but the reality is that none of the established NewLaw firms has opened offices in either jurisdiction despite having operated in both Hong Kong and Singapore since 变得越来越复杂 为新型法律服务公司工作 改变了事情的时间安排, 但并不必然改变事情的进程 在那些为合同制律所工作并乐在其中的人看来, 不走寻常路并且在晋升路上兜些圈子是值得的 在传统律所工作时,de Miranda 总是能在工作中看到可以增强灵活性的空间, 但却仍然受到传统律所思维的阻碍 现在的这种变化简直可谓革命性的 举例来说 : 我最早是一名并购律师, 所以我完全可以接手和跟进一个交易的始末, 然后告诉我的合伙人, 我能休息一下去做另一件事吗? 但这却是不可能的, 因为律所的模式是 : 不, 我们需要备用人手, 因为如果来了另一笔交易, 你就必须留下来处理, de Miranda 说 而 Axiom 的方式则不同 总是不断有新的交易进来, 我们也有能够使用的一群专业人士储备 我认为这两种商业模式 DNA 中略有不同的一点是, 我们愿意以更聪明的方式来看待雇主或资源 同时,de Miranda 还能抽出时间休假, 从事喜欢的活动, 避免许多在传统律所工作的律师正面临着的可怕的职业倦怠 De Miranda 预测新型法律服务公司将来会变得更受欢迎, 尽管 这可能需要一段时间 我相信随着我们这样的 怪人 变得越来越普遍, 并开始与其他人交流我们的想法, 这种新模式会变得更加普通, 然后作为律师可以接触的可能的领域就会开始扩大了 我确实看到了这个趋势 法律行业的某些部分几乎不可能改变 ; 其他方面, 我认为只是要完全适应承担风险并为律师提供更大的灵活性, 以便他们可以更长久地与我们一起工作 这正是让我留下来的原因 他说 但是, 虽然转向灵活工作制和新型法律服务公司的文化可能已经形成, 各国市场的进展还是很缓慢 Cognatio 的 Hobbs 指出, 香港和新加坡的法律市场可能已经接受了 ALSP 的概念, 但这一概念在这两大市场之外的接受度尚未受到充分考验 所以, 问题是这种灵活的工作模式是否并且何时真正能够在日本和中国等其他亚洲司法管辖区开展起来, 这些司法管辖区的劳动法制度都比香港和新加坡更为严格, 她说 客户方面肯定有很多机会, 但现实是, 尽管成熟的新型法律服务公司自 2011 年以来就在香港和新加坡开设了办事处, 它们中没有任何一家在日本或中国设立了办事处 52 ASIAN LEGAL BUSINESS CHINA 亚洲法律杂志 - 中国版 DECEMBER 2018

55 ALB DENTONS COMPLIANCE FORUM ALB大成企业合规论坛 12月13日 - 北京 随着全球监管力度的不断加强 企业如何应对监管风险 如何有效进行合规管理与风险管控 已 成为关乎企业运营与竞争成败的决定性因素 面对千头万绪的合规事项 面对来自网络安全 反 垄断 贸易和关税 劳动就业 安全生产 环境保护 政府采购 税务 商业合规等诸多领域的 合规挑战 企业在日常运营与对外投资中 如何避免踩到合规 雷区 如何识别不同行业中隐蔽 却致命的合规风险点 如何利用合规创造价值 汤森路透 亚洲法律杂志 ALB 与北京大成律师事务所携手举办企业合规论坛 将于2018 年12月13日在北京隆重举办 届时论坛将汇聚业界合规专家 就当下各个行业 不同领域涉及 的最核心合规问题与企业合规管理最新发展态势进行充分交流与探讨 欢迎访问本次活动页面获得更多信息 更多活动信息 请联系王瑾 jin.wang@thomsonreuters.com / (8610)

56 CHINA TOP 15 IN-HOUSE TEAMS 2018 AWARD CEREMONY 十五佳公司法务团队颁奖典礼 日期 :12 月 18 日 地点 : 北京四季酒店 在 亚洲法律杂志 (ALB) 2018 年十五佳公司法务团队名单发布之际,ALB 与中伦律师事务所将于 12 月 18 日在北京举办第四届十五佳公司法务团队颁奖典礼, 届时来自中国不同行业的 15 支顶尖的公司法务团队将齐聚一堂, 共同讨论当下热门的法律话题 他们对商业战略的深刻理解 前瞻性的思维 专业的法律知识, 必将与您碰撞出闪亮的火花 本次颁奖典礼由中伦律师事务所独家赞助 Sponsored by 更多活动信息, 请联系王瑾 jin.wang@thomsonreuters.com