The legal landscape is exhibiting marked changes as two US-based law firms, Sidley Austin and Weil Gotshal & Manges, have recently closed their Shanghai offices. According to a report by Law.com, the closure affected 11 and six lawyers for the respective firms.
In response to these closures, Sidley Austin has chosen to relocate some of its lawyers, including its two Shanghai partners, to the company’s offices in Beijing and Hong Kong. This adjustment was confirmed by a lawyer at the U.S. firm.
Such closures of offices by U.S. law firms in mainland China appear to be growing more frequent. This comes amid rising concerns over data security, as well as a lasting downturn in the market.