UK prime minister David Cameron’s current visit to China could potentially see China investing in the hotly-debated $50bn High Speed 2 rail line project, and Chinese investment into the UK picking up speed in general.
But even before Cameron’s trip, Chinese money has been pouring into Great Britain and has been keeping City firms’ corporate departments busy. For example, two Chinese nuclear groups are investing in EDF’s Hinkley Point C nuclear plant in Somerset, and China Investment Corporation has acquired a stake in each of Heathrow airport and Thames Water.
Inside China, the government’s tougher stance on corruption and law enforcement has triggered investigations into multinationals’ practices and spurred a market for compliance advice. This week’s China special report takes a closer look at this fast-growing practice area among international and local law firms.
During his official visit, the prime minister is also calling for an EU-China trade deal. For the UK and European legal industry, a free trade agreement could potentially solve some of the perennial problems in China such as low profitability and a lack of critical mass.
- Also on TheLawyer.com:
- Linklaters has named its current Greater China and global litigation head Marc Harvey as its new Asia managing partner
- Allen & Overy has hired partner Peter McDonald from Herbert Smith Freehills to build up its antitrust and competition practice in Australia
- Ashurst and a raft of firms have advised on the first German public takeover by Chinese state-owned company
- The Lawyer’s Behind the Law blog looks into the stories behind the recent exits at Herbert Smith Freehills’ Singapore office, which highlights the challenges facing both legacy firms over integration
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