UK Magic Circle firm Allen & Overy (A&O) entered into a joint operation agreement in China with Shanghai Lang Yue Firm, based in the pilot free trade zone.
Allen & Overy is the seventh foreign law firm to set up a joint operation in mainland China since 2014, when China started allowing foreign and Chinese law firms to do so in Shanghai pilot free trade zone.
“Allen & Overy has been on the ground in China for over 30 years and growing our China practice remains one of our global strategic priorities,” said Victor Ho, managing partner of A&O in Beijing and Shanghai.
“We have a number of projects in the corporate/M&A, debt capital markets and equity capital markets areas that we are currently advising on – and which we expect to be the main focus in the near future,” Ho told Asia Business Law Journal.
“For Allen & Overy, working with Lang Yue opens up an opportunity to work with a broader talent pool of Chinese-law qualified and Chinese-language capable lawyers to service client demand. Through the joint operation we are able to offer our clients seamless PRC law advice.”
As to why A&O chose Lang Yue, Ho said: “We felt it was important to identify a firm where the cultural fit is good and where the lawyers can demonstrate that they can advise to A&O standards. We have worked with Lang Yue on a significant number of joint client mandates and feel confident that our values and aspirations to deliver high standards of client service are aligned.”
Zhou Wenxin, a partner at Lang Yue said: “We have worked closely with Allen & Overy for some time now and are excited to formalize our relationship. The top-tier training and exposure to high-profile cross-border opportunities offered by Allen & Overy to our team under this joint operation is unparalleled.”
The alliance combines Lang Yue’s PRC law capability with A&O’s international platform to advise on corporate, M&A, private equity, venture capital investments, capital markets, regulatory advisory and compliance matters.
Other joint operations in China include: Baker McKenzie and its local partner FenXun; Holman Fenwick Willan and Wintell & Co; Hogan Lovells and Fujian Fidelity; Linklaters and Zhao Sheng; Herbert Smith Freehills and Kewei; and Ashurst and Guantao.