It has been another eventful week in Asia Pacific.
Last Friday (28 June), The Lawyer reported that Chinese state-owned conglomerate China Resources is shortly launching its first international panel, just months after the company finalised its first Chinese panel.
The Hong Kong-headquartered group joins a growing number of Chinese companies that are formalising their relationship with external advisers by adopting the panel system commonly used by their multinational counterparts.
Driven by the Chinese State Council’s campaign to establish stronger legal departments and formal external advisor appointments in its large state-owned companies, more Chinese companies, such as China Guangdong Nuclear Power Group, Sinopharm Group and China National Agricultural Development Group, have all taken the same route as China Resources.
Also in Hong Kong, Orrick continues to see its partners leaving for international rivals. Earlier today (2 July), Jones Day announced that Orrick’s former Asia managing partner and China office leader Michelle Taylor, together with an associate, has joined its banking and finance practice group. Since 2012, at least seven partners have left Orrick’s Hong Kong and China offices.
Further south, while DLA Piper has decided to freeze Australian partner and staff remuneration, newly listed Australian personal injury firm Shine Lawyers has plans to expand into UK through acquisition, following in the footsteps of its listed rival Slater & Gordon.
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