Beijing continues to attract international talent with firms flocking to the city with ambitions of getting a slice of the pie.
Today Clyde & Co became the latest to receive regulatory approval to open in the jurisdiction. The firm, with its roots firmly in the insurance and commodities sector is not unused to China having opened in Hong Kong in 1981 and moved into Shanghai in 2006.
The expansive firm has put the focus on the Asia Pacific over the last twelve months. In December it submitted an application to form a joint law venture (JLV) with its Singaporean association firm Clasis and announced its intention to use its Singapore base as a regional headquarters for Asia Pacific. Clydes was well ahead of the pack when it launched in Singapore in 1991.
Last summer the firm marched into Australia announcing launched in Sydney and Perth with a team of eight from Allens including three partners.
Of course, it hasn’t all been plain sailing for the firm. In Hong Kong the firm found itself the victim of a raid after its domestic rival, RPC, poached a team of four partners for its launch.