Goodwin Procter pledges commitment to Beijing despite shelving launch plan

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  • Most international firms are now seeking partners with solid book of business. They no longer want to pump more money into mainland, but just want to reap profits from their offices.

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  • Few foreign firms are, in bald truth, making any money whatsoever in Mainland China. Most are running at a loss or a razor thin margin. And they are training local lawyers in an attempt to build scale - but these lawyers typically leave to join increasingly sophisticated local firms. Foreign firms in China are simply schools that pay the students.

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