In recent years, the landscape for cross-border deals involving Chinese companies has dwindled significantly. Beijing-based firm Haiwen & Partners is adopting a bold approach to tackle this head-on, with a long-term ambition to establish themselves as the premier lead counsel for China’s major cross-border deals, a role traditionally entrusted to U.S. or U.K. firms. This is a particularly intriguing strategy, as it comes at a time when Chinese companies often default to foreign firms for lead roles even on Initial Public Offerings (IPOs) in neighboring regions like Hong Kong.
While most domestic firms are being cautious in a down market, Haiwen is choosing to invest heavily in foreign talent. Foreign lawyers are finding the move to Chinese firms increasingly attractive as their clients start to transition towards the local firms for lead counsel advice. This is an intriguing strategy, building on the growing trend of clients trusting domestic firms for crucial legal advice when it comes to their operations overseas.
For more in-depth coverage of this development, you can read more about it here.