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1、The leading lawyers and law firms in the Greater China RegionChina(PRC Firms)132CHINA(PRC FIRMS):An Introduction to Banking and FinanceContributed by the Banking&Finance Team at East&Concord PartnersContributed by 2021 was the opening year of the 14th Five-Year Plan.In this year,facing the complex a
2、nd severe international situation and the arduous task of domestic reform,development and stability,Chinas financial industry returned to serving the real economy,pushed forward supply-side structural reform of finance,and gradually expanded opening-up to a higher level.In capital markets,major even
3、ts such as the accounting fraud scandal involving Luckin Coffee and the planned delisting from NYSE of ride-hailing tech giant DiDi Global had an adverse ef-fect on Chinese enterprises listing overseas.Chinese enterprises listing overseas need to comply with both Chinese laws and reg-ulations and th
4、e financial audit requirements of US regulators,creating uncertainty which undermines investors confidence.In December 2021,the China Securities Regulatory Commission(CSRC)formulated the Provisions of the State Council on the Ad-ministration of Overseas Securities Offering and Listing by Do-mestic C
5、ompanies(Draft for Comments),as well as Administrative Measures for the Filing of Overseas Securities Offering and List-ing by Domestic Companies(Draft for Comments).According to the drafts,Chinese companies that seek to offer and list securities in overseas markets either directly or indirectly sha
6、ll fulfil the fil-ing procedure with the Chinese securities regulatory agency.The drafts also list circumstances under which an overseas offering and listing is prohibited,such as if the intended offering and list-ing is prohibited by Chinese laws and regulations or may consti-tute a threat to natio
7、nal security.The content of the consultation drafts is conducive to enhancing the compliance level of Chinese companies listing overseas and protecting the legitimate rights and interests of investors,demonstrating Chinas determination to expand the opening-up of the capital markets.For domestic lis
8、t-ed companies,the Beijing Stock Exchange started trading in No-vember 2021.As the primary platform serving innovation-orient-ed small and medium-sized enterprises(SMEs),the Beijing Stock Exchange is exploring the mechanism for stocks to be transferred between market boards on the Shanghai and Shenz
9、hen stock ex-changes.This mechanism will build up a full-cycle institutional arrangement for capital markets to serve the innovation and de-velopment of SMEs.Since restrictions on the proportion of foreign shares in some financial institutions were cancelled in 2020,the first batch of wholly foreign
10、-owned or foreign-controlled financial institutions have been approved to operate in China,such as BlackRock,the first wholly foreign-owned publicly offered fund management company in China,and two foreign-owned brokerages,DBS Se-curities(China)and Daiwa Securities(China)in 2021.Domestic financial i
11、nstitutions started to compete with foreign institutions in Chinese financial markets.To achieve its carbon peak and neutrality targets,China acceler-ated its steps to improving the top-level design of green finance.The Peoples Bank of China(PBOC)formulated and promulgated the first batch of green f
12、inancial standards such as the Environ-mental Information Disclosure Guidelines for Financial Institu-tions,earmarked CNY200 billion to support clean and efficient utilisation of coal,and announced The Green Bond Endorsed Pro-jects Catalogue(2021 Edition)jointly with CSRC and the National Developmen
13、t and Reform Commission,which facilitates financial institutions to promote the high-quality development of the real economy with green finance.Contents:Banking&Finance 银行与金融 p.133Capital Markets Debt&Equity 资本市场:债务与股权 p.141Capital Markets Securitisation&Derivatives 资本市场:资产证券化及衍生产品 p.149Competition/
14、Antitrust 竞争法/反垄断 p.155Corporate/M&A 公司/并购 p.162Corporate Investigations/Anti-Corruption 公司调查/反腐败 p.170Dispute Resolution 争议解决 p.173Dispute Resolution Most in Demand Arbitrators 争议解决:最受欢迎仲裁员 p.183Employment 劳动法 p.186Energy&Natural Resources 能源与矿产资源 p.192Environment 环境法 p.195Healthcare 医事法 p.199Insur
15、ance 保险法 p.201Intellectual Property 知识产权 p.209International Trade/WTO 国际贸易/世贸 p.223Investment Funds 投资基金 p.228Private Client/Wealth Management 私人客户/财富管理 p.231Private Equity Buyouts&Venture Capital Investment 私募股权与风险投资 p.234Projects&Infrastructure 项目与基础设施 p.239Real Estate&Construction 房地产与建筑工程 p.243R
16、estructuring/Insolvency 破产重组 p.248Shipping 海商海事 p.251Tax 税务 p.256Technology,Media,Telecoms(TMT)通信媒体 p.261Corporate/Commercial:Anhui 公司/商事:湖北 p.267Beijing 公司/商事:北京 p.269Chongqing 公司/商事:重庆 p.272Fujian 公司/商事:福建 p.274Gansu 公司/商事:甘肃 p.275Guangdong 公司/商事:广东 p.276Guizhou 公司/商事:贵州 p.281Hubei 公司/商事:湖北 p.282
17、Hunan 公司/商事:湖南 p.284Inner Mongolia 公司/商事:内蒙古 p.286Jiangsu 公司/商事:江苏 p.287Jiangxi 公司/商事:江西 p.290Jilin 公司/商事:吉林 p.291Liaoning 公司/商事:辽宁 p.292Ningxia 公司/商事:宁夏 p.294Qinghai 公司/商事:青海 p.294Shaanxi 公司/商事:陕西 p.295Shandong 公司/商事:山东 p.297Shanghai 公司/商事:上海 p.299Shanxi 公司/商事:山西 p.305Sichuan 公司/商事:四川 p.305Tianjin
18、公司/商事:天津 p.308Yunnan 公司/商事:云南 p.309Zhejiang 公司/商事:浙江 p.311Leaders Profiles in China p.314China(PRC Firms) Banking&Finance 银行与金融China(PRC Firms)The editorial is in alphabetical order by firm name.AllBright Law OfficesWhat the team is known for AllBright Law Offices is noted for its ability to handle
19、domestic financing work,including reg-ular mandates from banks and financial institutions in the area of project finance.Additionally experienced in asset-backed securitisation work.Remains a key choice for trust and insurance companies that seek ser-vices in debt financing.Well placed to advise ban
20、ks and financial institutions on the compli-ance aspects of their business operations.Strengths The team is complimented by clients for its“ability to solve various kinds of complex legal issues.”Work highlights Acted for China CITIC Bank on the disposal of CNY1.6 billion worth of non-performing ass
21、ets held by Changying Credibility Technology.Notable practitionersLi Xianming is a key contact for clients.业务优势 锦天城律师事务所以处理国内融资业务的能力见长,包括银行和金融机构在项目融资领域的常规业务。另外在资产支持证券发行方面也富于经验。对于寻求债务融资方面法律意见的信托和保险公司,仍是主要的选择。能够向银行和金融机构业务提供业务运营合规方面的建议。团队强项 该团队被客户好评其“解决各种各样的复杂法律难题的能力。”业务亮点 代理中信银行就处置长鹰信质所有的价值人民币16亿元的不良资
22、产。领先律师李宪明律师是该业务主要客户联系人。Beijing Rui Bai Law FirmWhat the team is known for Beijing Rui Bai Law Firm has a solid aviation finance practice with particular strength advising on leasing trans-actions.Active on behalf of an impressive client portfolio spanning national banks,leasing companies,institution
23、al investors and foreign credit export agencies.Experience spans air-craft acquisition and disposal,purchasing and leasing and refinancing transactions.Strengths One client found the team to be“very professional,responsive and thorough.”Work highlights Represented Willis Lease Finance Corporation in
24、 the securitisation of engines leased to various Chinese airlines.Notable practitioners业务优势 北京瑞柏律师事务所拥有扎实的航空金融业务,尤其擅长为租赁交易提供法律意见。活跃于代表令人印象深刻的客户群,包括国家银行、租赁公司、机构投资者和外国信贷出口机构。经验涵盖飞机收购和处置、购买和租赁交易以及再融资交易。团队强项 一位客户认为该团队“非常专业、回应及时且彻底。”业务亮点 代表威利租赁金融公司将出租给多家中国航空公司的发动机资产证券化。领先律师Liu Yi is a venerable market fi
25、gure in light of his extensive and profound experience in the aviation finance sector.One highly compli-mentary client describes him as“very pro-fessional and detailed”and also praises his“good knowledge of local law.”刘屹律师以其在航空金融领域上广泛且深厚的经验而广受敬佩的市场人物。一位高度好评的客户将他描述为“非常专业和细致,”亦赞成他“对当地法律很好的了解。”DeHeng L
26、aw OfficesWhat the team is known for DeHeng Law Offices represents investment banks,com-mercial banks and policy banks in a range of acquisition finance,project finance and avia-tion finance work.Remains the first port of call for state-owned financial institutions seeking up-to-date advice,and is e
27、specially skilled in handling loan facilities with cross-border ele-ments.Also advises foreign banks regarding the setting up of operations in China.Offers further expertise in lease restructuring.Strengths One highly complimentary client explains that“their work is very strong and they are very goo
28、d at meeting our business require-ments.”The team is complimented by another admiring market source as“knowledgeable,professional and client-oriented,”with a“good sense of ser-vice.”Work highlights Advised Nanyang Commercial Bank on a working capital loan worth HKD100 million to China Tianrui Group
29、Cement Com-pany.Notable practitioners业务优势 德恒律师事务所代表投资银行、商业银行和政策性银行开展一系列收购融资、项目融资和航空融资业务。仍是国有金融机构寻求最新法律意见的首选,尤其擅长处理具有跨境元素的贷款。同时为外资银行在中国设立业务提供建议。提供租赁重组方面的专业知识。团队强项 一位高度好评的客户这样解释:“他们的业务很强,也很好地满足我们的商业需求。”该团队被另一位钦佩的市场消息人士称赞为:“见Alphabetical order within each band.Band 1 is highest.Band 1Fangda PartnersGlo
30、bal Law OfficeJunHe LLPKing&Wood MallesonsBand 2DeHeng Law OfficesJingtian&GongchengLlinks Law OfficesZhong Lun Law FirmBand 3AllBright Law OfficesDentons ChinaFenXun PartnersLeading FirmsBanking&FinanceBanking&Finance 银行与金融银行与金融领先律所第一级别方达律师事务所环球律师事务所君合律师事务所金杜律师事务所第二级别德恒律师事务所竞天公诚律师事务所通力律师事务所中伦律师事务所第
31、三级别锦天城律师事务所大成律师事务所奋迅律师事务所同等排名不分先后,均按英文字母顺序排名。In response to the accelerating ageing of Chinas population,the China Banking and Insurance Regulatory Commission ap-proved preparations for the establishment of Guomin Pension&Insurance Company Limited(Guomin Pension)in September 2021.The promoters of Gu
32、omin Pension are mainly wealth management subsidiaries of commercial banks and state-owned in-vestment companies,unlike most existing pension insurance product providers in the Chinese market,which are the subsidiaries of insurance companies.Guomin Pension will make full use of the advantages of its
33、 bank shareholders in customer resources and brand reputation to enrich the supply of pension insurance products in the future.During the global COVID-19 pandemic,PBOC flexibly adjusted monetary policies to support the real economy,including but not limited to across-the-board RRR cuts,LPR downgrade
34、s,and extending two mon-etary policy instruments that directly serve the real economy.The various monetary policy instruments will create a climate for financial institutions to benefit the real economy and increase support for SMEs and key areas of manufacturing.Amid continuing uncertainty over COV
35、-ID-19,Chinas economy has taken the lead in recovering from the pandemic,attracting global capital to pursue it.In 2022,Chinas financial industry will continue to prioritise stability while pursuing progress.134China(PRC Firms)Banking&Finance 银行与金融 识广、专业、以客户为中心,”同时有“很好的服务态度。”业务亮点 为南洋商业银行向中国天瑞集团水泥公司提
36、供价值1亿港元的营运资金贷款提供法律咨询。领先律师Zhang Xu(请参见第333页)has a robust rep-utation for her expertise in all aspects of banking and finance,including trade and ac-quisition finance as well as interbank lending mandates.She is also regularly mandated as legal counsel on restructuring matters.张旭(请参见第333页)律师以其在银行金融各个方
37、面上的专门知识而拥有扎实的声誉,包括贸易和收购融资以及银行间贷款委托。她亦定期在重组事宜上被聘为法律顾问。Ma Kai is well versed in cross-border finance,particularly acting on behalf of policy banks.One impressed inter-viewee remarks:“He is quite a professional lawyer and we really value his professional judgement.”马恺律师善于跨境融资,尤其代理政策性银行。有一位印象深刻的受访者评论道说:
38、“他是非常专业的律师,我们非常重视他的专业意见。”Dentons ChinaWhat the team is known for Dentons China is widely acknowledged for its dedicated avi-ation finance practice and proves a popular choice for a range of leasing companies and domestic airlines.Scope of expertise spans delivery financing,refinancing,aircraft sale
39、and purchase,and cross-border leasing trans-actions.Adept at advising on matters involving SPVs and free trade zones.Strong offering in cross-border financing and banking litigation.Strengths One client says that the teams“timely and accurate handling of relevant mat-ters in the course of legal affa
40、irs is very bene-ficial.”A second satisfied client appreciates the teams“fast service follow-up and strong team-work skills.”Work highlights Represented Bank of East Asia on a real estate financing loan worth HKD180 million extended to Symphony Holdings.Advised COMAC on the sale of 100 aircraft to s
41、everal private airlines.Notable practitioners业务优势 大成律师事务所因专注于航空金融业务而广受认可,是各类租赁公司和国内航空公司的热门选择。专业范围涵盖交付融资、再融资、飞机买卖和跨境租赁交易。擅长为涉及特殊目的公司和自由贸易区的事务提供法律意见。在跨境融资和银行诉讼方面提供强大的服务。团队强项 一位客户说该团队:“在法律事务过程中及时、准确处理相关事务十分有益。”第二位满意的客户欣赏该团队:“服务跟进快,团队协作能力强。”业务亮点 代表东亚银行就向新沣集团提供价值1.8亿港元房地产融资贷款。为中国商用飞机就向几家私营航空公司出售一百架飞机提供法律
42、服务。领先律师Wu Jingjing is well regarded for her deep ex-pertise in aircraft leasing matters,including cross-border dispute resolution matters in-volving aircraft financing.“Ms Wu has a high-ly sensitive grasp of the risks,”reports one highly satisfied client.吴静静律师以其飞机租赁事宜相关深厚专门知识而广受认可,包括涉及到飞机融资的跨境争议解决案件
43、。“吴律师对风险把控具有高度敏感性,”有一位高度满意的客户如此报告说。Zhou Yao is famed for her extensive experience representing lessors and lessees in aircraft financing projects.One admiring client enthuses:“Zhou Yao is a very experi-enced and diligent lawyer who provides pro-fessional service whenever we need advice.”周瑶律师以其在飞机融资项
44、目上代表出租人和承租人有关广泛经验而著名。一位钦佩的客户热情地说道:“周瑶律师是很有经验和勤奋的律师,我们什么时候需要法律意见,他们都提供专业服务。”Fangda PartnersWhat the team is known for Fangda Partners houses a market-leading team with a well-in-tegrated network of offices across China.Well regarded for its broad range of services ranging from syndicated loans to cro
45、ss-border term loan facilities.Particularly noted for its expertise in domestic and international acquisition financing and non-recourse pro-ject financing.Remains counsel of choice for a number of lenders and consortiums of bor-rowers.Advises on LBO financing and privati-sation loan facilities.Stre
46、ngths One happy client observes that“Fangda Partners has shown a good integration between its Mainland and Hong Kong offices.”A second grateful client says:“We count on their professionalism to streamline the closing process,”and makes clear that the team“has never let us down.”“They are a leading l
47、aw firm with very good law-yers,”remarks another deeply impressed inter-viewee.Work highlights Mandated by a special purpose vehicle of Loyal Valley Capital as sponsors counsel for the provision of privatisation loan facilities worth HKD2.17 billion to O-Net Tech-nologies.Notable practitioners业务优势 方
48、达律师事务所具备市场领先的团队,在中国拥有良好整合的办公室网络。该团队以其包括从银团贷款到跨境定期贷款在内的广泛业务而受到好评。尤其以在国内和国际收购融资和无追索权项目融资方面的专长而闻名。仍是众多贷款人和借款人联合体的首选。为杠杆收购融资及私营化有关贷款提供法律意见。团队强项 一位高兴的客户观察地说:“方达律师事务所在它的大陆和香港办公室之间已经表现出很好的整合。”第二位感谢的客户说道:“我们仍依靠他们的专业精神来简化完成交易的流程,”并明确表示该团队“从来没有让我们失望。”“它是领先的一家律所,拥有非常好的律师,”另一位印象深刻的受访者如此评论道。业务亮点 受到正心谷资本的特殊目的公司的委
49、托,作为出资方的法律顾问对昂纳信息技术提供价值21.7亿港元私有化贷款。领先律师Xie Zheng possesses deep experience in do-mestic and cross-border lending mandates.He is especially proficient in handling foreign exchange transactions,trade finance and fi-nancial regulatory matters.谢郑律师在国内、跨国贷款委托上拥有深入经验。他尤其精通处理外汇交易、贸易融资和金融监管事宜。Stanley Chen
50、is widely acknowledged for his expertise in all aspects of banking and finance.He is notably adept at handling cross-border acquisition fi-nance,structured and syndicated lending as well as related regulatory matters.陈兆乾律师以其银行与金融的各个方面相关经验而广受认可。他可观擅长处理跨境收购融资、结构性和银团贷款安排以及有关监管事宜。FenXun PartnersWhat the
51、 team is known for FenXun Partners houses a capable bench of PRC-qualified lawyers which benefits from being part of the Baker McKenzie network.Notable for the strength of its banking and financial services Band 1Lin Lawrence Global Law Office*Zhang Xin Global Law Office*Zhou Hui JunHe LLPBand 2Chen
52、 Stanley Fangda PartnersZhou Stanley King&Wood MallesonsBand 3Liu May Global Law Office*Lu Jing Zhong Lun Law Firm*Mei Michael Llinks Law Offices*Wang Shirley FenXun PartnersWu Jiejiang Jingtian&Gongcheng*Xing Dorothy East&Concord Partners(ORL)Zhang Xu DeHeng Law Offices*Band 4Chen Dongyue Zhong Lun
53、 Law Firm*Ma Kai DeHeng Law OfficesPan Xiuping Longan Law Firm(ORL)Up-and-coming individualsLv Yinghao King&Wood MallesonsYuan Ting Zhong Lun Law Firm*Leading IndividualsSenior Statespeople:distinguished older partnersZhang Hongjiu Jingtian&Gongcheng*Eminent PractitionersLiu David JunHe LLPWang Jack
54、 King&Wood MallesonsWang Ling King&Wood MallesonsXie Zheng Fangda PartnersSenior Statespeople&Eminent PractitionersBanking&Finance银行与金融业界元老和业界贤达业界元老张宏久 竞天公诚律师事务所*业界贤达刘大力 君合律师事务所王军 金杜律师事务所王玲 金杜律师事务所谢郑 方达律师事务所领先律师第一级别林小龙 环球律师事务所*张昕 环球律师事务所*周辉 君合律师事务所第二级别陈兆乾 方达律师事务所周昕 金杜律师事务所第三级别刘学梅 环球律师事务所*陆菁 中伦律师事务所*
55、梅亚君 通力律师事务所*王湘红 奋迅律师事务所吴杰江 竞天公诚律师事务所*邢冬梅 北京天达共和律师事务所 张旭 德恒律师事务所*第四级别陈冬悦 中伦律师事务所*马恺 德恒律师事务所潘修平 隆安律师事务所 潜质律师吕膺昊 金杜律师事务所原挺 中伦律师事务所* Banking&Finance 银行与金融China(PRC Firms)offering,especially for cross-border financing mandates.Strengths“Their ability to manage international projects is impressive and cre
56、dible,”says one pleased client.Work highlights Represented China Minsheng Bank in a USD500 million bridge loan to Philip-pines borrower DITO Telecommunity.Notable practitioners业务优势 奋迅律师事务所拥有能干的中国执业资格团队,受益于作为贝克麦坚时网络的成员。以其银行与金融服务实力而著称,尤其在跨境融资委托上。团队强项“他们管理国际项目的能力令人印象深刻且可信,”有一位满意的客户如是说道。业务亮点 代表中国民生银行处理对
57、菲律宾借款方DITO电信社区的价值5亿美元的过桥贷款。领先律师Shirley Wang is well known for her expertise in project finance matters,notably represent-ing sponsors and lenders on such mandates.She also regularly handles asset,trade and supply chain financing.王湘红律师以其项目融资事宜有关专门知识而闻名,尤其在这样的委托上代表出资方和借贷方。她亦定期处理资产、贸易和供应链融资。Global Law
58、OfficeWhat the team is known for Global Law Office has a solid reputation for handling high-profile cross-border work,including project finance and acquisition finance.A popular choice of counsel for banks and financial institutions arranging loan facilities,and receives regular mandates from Chines
59、e policy banks on loans to overseas governments and entities.Expe-rienced in advising on green finance matters,involving water,waste treatment and solar power projects.Counts several development banks and domestic leasing companies among its clientele.Strengths Clients benefit from the teams deep be
60、nch of specialists,with one client remarking:“Through the participation of many richly expe-rienced lawyers,they are able to promptly respond to the clients needs.”Another client appreciates the team because“they have a serious and responsible service attitude,with timely and high-quality work feed-
61、back.”Work highlights Advised China CITIC Bank International on restructuring USD5.5 billion worth of secured term loans to ChemChina HK Red Bridge.Notable practitioners业务优势 环球律师事务所在处理备受关注的跨境业务享有良好声誉,包括项目融资和收购融资。在提供贷款安排方面是银行和金融机构的热门选择,也定期接受中国政策性银行的委托,处理对海外政府和实体的贷款。在涉及水、废物处理和太阳能项目等绿色金融事务方面颇具经验。客户包括多家
62、开发银行国内租赁公司。团队强项 客户受益于该l律所阵容深厚的专家团队,其中有一位客户评论地说该团队:“通过多位经验丰富律师的参与,他们能够及时响应客户需求。”另一位客户欣赏该团队因为“他们有非常认真负责的服务态度,有及时、优质的业务反馈。”业务亮点 为中信银行国际就重组中国化工香港红桥价值55亿美元的有抵押定期贷款提供法咨询。领先律师Lawrence Lin(请参见第321页)is a highly regarded figure in the market who is widely acknowledged for his financial law expertise.He is wel
63、l versed in syndicated lending for project financing,aircraft,shipping and other types of asset financing.He is regularly man-dated by private and state-owned clients to advise them.林小龙(请参见第321页)律师是在市场深受敬佩的人物,以其金融法律专门知识而广受认可。他善于为项目融资、航空、船舶及其他资产融资等银团贷款。他定期受到私营及国营客户的委托为他们提供法律咨询。Zhang Xin(请参见第333页)has
64、an impressive background in capital markets transactions,particularly derivatives matters,but he is most active on cross-border lending arrangements.One ad-miring market source observes approvingly that“Zhang Xin does a lot of work for banks,and also panda bond issuances.”张昕(请参见第333页)律师以在资本市场交易上而拥有令
65、人印象深刻的背景,尤其是衍生产品事宜,但他在跨境贷款业务最为活跃。一位欣赏他的市场知情人士很认可地观察道:“张昕为银行的业务做得很多,还有熊猫债券发行的业务。”May Liu(请参见第322页)specialises in cross-border financing and investment matters,but is also regularly man-dated to handle asset financing projects.One impressed source agrees that“she is a good lawyer.”刘学梅(请参见第322页)律师专注于跨境
66、融资和投资方面业务,但亦定期受到处理资产融资项目的委托。有一位感受印象深刻的消息人士同意说:“她是很好的律师。”Han Kun Law OfficesWhat the team is known for Han Kun Law Offices houses a highly rated team which is famed for its expertise in aircraft financing.The team boasts an impressive client base of major financial leasing companies,national airlines
67、 and banks.Commended for its experi-ence in a variety of complex financing issues,including leasing,acquisition finance and refinancing work,and further consolidates its leading position in the aviation finance sphere.Also active advising clients on establishing leasing entities and tax structures.L
68、eading northern China-based aviation finance team which services airlines and aircraft leasing companies across the country.Strengths The high quality of the team is lauded by clients,one of whom enthuses that they“have strong communication and coordi-nation skills and can efficiently coordinate ove
69、r-seas lawyers to carry out their work.”Another appreciative client agrees that“they are professional,dedicated and excellent.”Work highlights Advised China Eastern Airlines on negotiating and amending financial leasing agreements for 100 passenger aircraft.Notable practitioners业务优势 汉坤律师事务所具备一支被高度评价
70、的团队,以其飞机融资有关专门知识而著称。该团队享有令人瞩目的客户群,包括大型金融租赁公司、国家航空公司及银行。在租赁、收购融资、再融资等多种复杂融资业务上积累了丰富经验,进一步巩固了其在航空金融领域的领先地位。积极为客户提供*Indicates individual with profile.(ORL)=Other Ranked Lawyer.Alphabetical order within each band.Band 1 is highest.Band 1Han Kun Law OfficesJunZeJun Law OfficesKing&Wood MallesonsBand 2Den
71、tons ChinaBand 3Beijing Rui Bai Law FirmJunHe LLPLeading FirmsAviation:Finance航空金融领先律所第一级别汉坤律师事务所君泽君律师事务所金杜律师事务所第二级别大成律师事务所第三级别北京瑞栢律师事务所君合律师事务所*意为该律师提供了个人简介 其他上榜律师同等排名不分先后,均按英文字母顺序排名。Band 1Tan Ge JunZeJun Law OfficesWang Shu Han Kun Law Offices*Band 2Ma Feng King&Wood MallesonsWu Jingjing Dentons Ch
72、inaZhou Yao Dentons ChinaBand 3Huang Zhenda Beijing DHH Law Firm(ORL)Wang Gang JunHe LLPWang Ning King&Wood MallesonsUp-and-coming individualsChen Jie King&Wood MallesonsDing Yi Han Kun Law Offices*Jin Zhe Grandall Law Firm(ORL)Wang Jialing Han Kun Law Offices*Zhu Jun Han Kun Law Offices*Associates
73、to watchSong Yang JunZeJun Law OfficesLeading IndividualsSenior Statespeople:distinguished older partnersLiu Yi Beijing Rui Bai Law FirmSenior StatespeopleAviation:Finance航空金融业界元老业界元老刘屹 北京瑞栢律师事务所领先律师第一级别谭舸 君泽君律师事务所王舒 汉坤律师事务所*第二级别马峰 金杜律师事务所吴静静 大成律师事务所周瑶 大成律师事务所第三级别黄振达 北京德和衡律师事务所 王罡 君合律师事务所王宁 金杜律师事务所潜
74、质律师陈洁 金杜律师事务所丁毅 汉坤律师事务所*金喆 国浩律师事务所 王佳玲 汉坤律师事务所*朱俊 汉坤律师事务所*后起之秀宋扬 君泽君律师事务所136China(PRC Firms)Banking&Finance 银行与金融 有关建立租赁实体和税务结构的法律意见。位于华北地区的航空金融领域领军团队,为全国的航空公司和飞机租赁公司提供服务。团队强项 该团队的高素质享受客户的赞语,其中有一位客户赞扬该团队:“具有较强的沟通协调能力,能够高效地协调境外律师开展工作。”另一位欣赏的客户同意:“他们很专业、敬业和优秀。”业务亮点 为中国东方航空就100架民航飞机的金融租赁合同进行谈判和修订。领先律师W
75、ang Shu(请参见第328页)is a market-lead-ing aviation leasing lawyer with an enviable client roster who is particularly active in the north of China.“Ms Wang Shu is excellent in the aircraft financing area,”affirms one hap-py client,further elaborating that“she also has outstanding communication abilities.
76、”王舒(请参见第328页)律师为市场领军的航空租赁律师,拥有令人羡慕的客户群且尤其活跃于中国北方地区。“王舒律师在飞机金融领域很优秀,”一位高兴的客户如此认可并补充解释说:“她还有很出色的沟通能力。”Ding Yi(请参见第316页)has a robust financial services practice with a notable focus on aviation finance matters.He is described by one complimentary client as“professional,active and thoughtful.”丁毅(请参见第316
77、页)律师拥有扎实的金融服务职业,专注于航空金融事务。他被一位好评的客户描述为“专业、活跃、周到。”Wang Jialing(请参见第327页)is a rising figure in the aviation finance market,handling both domestic and cross-border aircraft leasing matters.“She is very good and has good achievements,”ob-serves one impressed market interviewee.王佳玲(请参见第327页)律师在航空金融市场声誉上升
78、,从事境内外飞机租赁事宜。“她是很好,也有很好的业绩,”有一位印象深刻的市场受访者如是观察说。Zhu Jun(请参见第335页)has a devel-oping reputation for his professional handling of aircraft leasing and financing matters.He also handles other forms of financing,includ-ing leveraged and acquisition finance.朱俊(请参见第335页)律师以其专业从事飞机租赁和融资事务而声誉渐隆。他亦处理其他类融资,包括杠杆
79、和收购融资。Jingtian&GongchengWhat the team is known for Jingtian&Gong-cheng is highly specialised in handling cross-border project finance and offshore SPV issues for high-profile domestic and overseas financial institutions and corporations.The firm offers a full raft of services in banking and finance,
80、including syndicated and commercial loan facilities.Frequently mandated on financ-ings related to privatisation,acquisitions and real estate development projects.Strengths The team are praised by one impressed client for their“good foreign lan-guage communication skills and a solid cooper-ative rela
81、tionship with overseas intermediaries.”Another client compliments the team,noting that“their services are very good,with quick responses and accurate interpretations.”Work highlights Represented China Huaneng Group when it received a HKD17 billion bridge loan from Bank of China for the de-listing an
82、d privatisation of Huaneng Renewables Corpo-ration.Notable practitioners业务优势 竞天公诚律师事务所高度专注于代表国内外知名金融机构和公司处理跨境项目融资和离岸特殊目的公司事宜。在银行和金融领域提供丰富的服务,包括银团贷款和商业贷款。经常处理与私有化、收购和房地产开发项目有关的融资业务。团队强项 一位印象深刻的客户称赞该团队“良好的外语沟通能力,与海外中介机构扎实的合作关系。”另一位客户好评该团队,指出:“他们的服务很好,回应很快,解释准确。”业务亮点 代表中国华能集团处理从中国银行获得170亿港元过桥贷款以进行华能新能源
83、退市和私有化。领先律师Zhang Hongjiu(请参见第333页)is a venera-ble figure who is renowned for his experience in all aspects of financial law.“Zhang Hongjiu is a very experienced figure,”remarks one ad-miring market source,while another source observes that“he mainly does capital markets deals and securities issuance
84、s.”张宏久(请参见第333页)律师是一位广受尊敬的人物,以其金融法律各个方面有关经验而驰名。“张宏久是非常资深的人物,”有一位欣赏他的市场人士如此评论道,同时另一位人士观察道:“他主要做资本市场交易和证券发行事务。”Wu Jiejiang(请参见第329页)is an expert in cross-border financing and is regularly mandated by both Chinese and foreign financial institutions.He is par-ticularly proficient in project financing an
85、d FDI matters,and also handles mergers and acquisitions.吴杰江(请参见第329页)律师是跨境融资专家并定期受到国内外金融机构的委托。他特别通晓项目融资和外商直接投资方面业务,亦且从事合并收购事宜。JunHe LLPWhat the team is known for JunHe LLP is well regarded for its leading practice in acquisi-tion finance,project finance and syndicated lending.Its expertise is freque
86、ntly sought after by lenders and borrowers.Maintains a practice in the aviation finance sphere,acting mainly for aircraft leasing companies.High-lighted for its experience advising on cross-border finance transactions.Clients also seek its expertise in relation to asset management and regulatory com
87、pliance.Strengths“JunHe are very professional,helpful and resourceful,”remarks one deeply grateful client,adding that“the lawyers are diligent and committed.”Another admiring client reports that they were“pretty impressed by their quality of work and willingness to accommodate our timeline and reque
88、sts.”A market observer notes that“they have some highly capable partners.”Work highlights Mandated by Bank of China as lead arranger for a syndicated acquisition finance loan to Yanfeng Automotive Trim Sys-tems.Notable practitioners业务优势 君合律师事务所以其在收购融资、项目融资和银团贷款方面的领先业务而备受好评。其专业能力经常受到贷款人和借款人的青睐。在航空金融领
89、域保有业务,并主要为飞机租赁公司服务。因其在跨境金融交易方面的经验而受到瞩目。客户还就资产管理和监管合规寻求其专业知识。团队强项“君合是非常专业、有帮助和有办法,”有一位感恩深刻的客户这样评论道说,补充地讲:“他们的律师既勤奋又敬业。”另一位钦佩的客户报道说该团队的“业务和愿意满足我们的时间表和要求让我们印象比较深刻。”一位市场观察者指出“他们有一些精干的合伙人。”业务亮点 受中国银行委托,作为向延锋汽车内饰系统提供银团收购融资贷款的牵头行。领先律师David Liu is regarded as a pre-eminent lawyer in the market,particularly
90、for his rich experi-ence in banking and finance.He is acclaimed for his noteworthy expertise in acquisition fi-nance projects.刘大力律师被认为是市场上的杰出律师,尤其是在银行和金融方面的丰富经验。他以其令人瞩目的收购融资项目相关专门知识而享受赞誉。Zhou Hui is in the top drawer of bank-ing sector experts,with enviable experience in handling private equity and
91、leveraged fi-nancing deals.One deeply impressed market source explains that“Zhou Hui has profound expertise and deep insights in PRC law.”The same source says they are“also impressed by his responsibility and work ethic.”周辉律师站在银行领域专家中顶级水平,并且以处理私募股权和杠杆融资交易而拥有令人羡慕的经验。一位印象深刻的市场消息人士如此解释:“周辉律师专门知识深厚,对于中国
92、大陆法律的洞察深入。”该市场人士还说:“他的责任感和职业道德给我们留下了深刻的印象。”Wang Gang is a noted finance lawyer with standout expertise in avi-ation leasing matters.One admiring source says of him:“He is quite good,”adding that“his expertise and speed of response are both very good.”王罡律师是广受关注的金融律师,且拥有航空租赁事宜有关突出的专门知识。一位钦佩的消息人士提到他:“他
93、挺好,”并补充说:“他的专业知识和反应速度都非常好。”JunZeJun Law OfficesWhat the team is known for JunZeJun Law Offices is respected for handling a wide array of mandates in the aviation finance space.Offers notable expertise in leasing matters.Frequently engaged to advise on sale and leaseback transactions,SPV issues and a
94、sset disposals.Guangzhou-based aviation finance team provides market-leading service to many regional airlines covering southern and eastern China.Strengths One deeply satisfied client reports:“JunZeJuns team is extremely professional in the aviation finance space.They can provide us with very good
95、opinions and recommendations for developing our companys work.”Another impressed client remarks that“the teams members are richly experienced and are equipped with deep industry knowledge.”Yet another happy client enthusiastically states:“The JunZeJun team is always helpful and responsive,with excel
96、lent quality advice.”Work highlights Acted for a consortium led by Natixis on a French tax lease financing to ICBC Financial Leasing regarding the leasing of 15 narrow-body Airbus and Boeing aircraft.Notable practitioners业务优势 君泽君律师事务所以在航空金融领域从事广泛的业务而受人尊敬。提供处理租赁业务的出色专业能力。经常处理销售、售后回租交易、特殊目的公司事务和资产处置。位
97、于广州的航空金融团队向中国南部和东部的许多区域性航空公司提供市场领先的服务。团队强项 一位满意的客户如是说:“君泽君团队在航空金融领域十分专业,可以为我司开展的相关工作提供很好的意见和建议。”另一位印象深刻的客户评论道:“该团队的成员经验丰富,具有深厚的行业知识。”又一位高兴的客户热情地表示:“君泽君的团队总 Banking&Finance 银行与金融China(PRC Firms)是能提供帮助和反馈及时,提供优质的意见。”业务亮点 代理由Natixis领导的财团就其向工银租赁提供15架窄体的空客和波音飞机的法国税务租赁融资提供法律咨询。领先律师Tan Ge is a top-tier avi
98、ation lawyer with a standout reputation in the southern Chinese market.“Judy is an excellent lawyer and team leader,”enthuses one deeply admiring client.The same source also remarks:“She is clear-ly very familiar with the aviation landscape in China and handles client relationships very well.”谭舸律师为顶
99、级航空领域律师,且在华南市场拥有出众的名誉。“谭律师是非常出色的律师和团队领导人,”一位深深钦佩的客户如此热情地说道。该知情人士亦评论道:“她显然非常熟悉中国的航空领域,并且很好地处理客户关系。”Song Yangis a respected aviation finance lawyer whose reputation is rising in the market.He is regularly mandated by airlines and leasing companies on financing and asset leasing matters.宋扬律师是广受尊重的航空融资的
100、律师,其市场里的名誉日益上升。他以融资和资产租赁事宜而定期受到航空和租赁公司的委托。King&Wood MallesonsWhat the team is known for King&Wood Mallesons is a formidable market leader,advising on the full gamut of banking and avi-ation finance matters.Offers extensive experi-ence handling high-stakes structured finance,acquisition finance,proje
101、ct finance and syn-dicated loans.Enviable client list includes a number of policy banks,commercial banks,development banks and investment banks.Remains a popular choice for aviation finance matters,thanks to its wealth of experience representing a host of financial leasing compa-nies and airlines.Ut
102、ilises its global network to assist Chinese banks with cross-border trans-actions and foreign banks with local incorpo-ration and issues involving the Shanghai Free Trade Zone.Strengths The team enjoys high praise from one client who believes that“the work handled by King&Wood Mallesons is among the
103、 best of all firms in terms of accuracy,efficiency and detail.”A second highly complimentary client explains:“King&Wood Mallesons has in-depth knowl-edge of the Chinese market,and the advice reflects local market considerations.”Another impressed source observes that“they are quite familiar with dif
104、ferent financing struc-tures.”Work highlights Advised China Minsheng Bank on the provision of a EUR1.3 billion acquisition finance loan to WuMart Group to purchase a majority stake in METRO China.Acted for China Southern Airlines on the sale and leaseback of seven Airbus A330-200 air-craft.Notable p
105、ractitioners业务优势 金杜律师事务所为实力强大的市场领导者,就银行和航空金融事务提供全方位的法律服务。提供处理高股权结构融资、收购融资、项目融资和银团贷款的丰富经验。拥有令人称羡的客户名单,包括多家政策性银行、商业银行、开发银行和投资银行。由于其代表众多金融租赁公司和航空公司的丰富经验,而保持着在航空金融领域热门选择的地位。利用其全球网络协助中资银行进行跨境交易,协助外资银行处理本地注册,及在上海自贸区的事务。团队强项 一位客户对该团队高度好评,认为:“金杜的业务在准确性、效率和细节方面是所有的律所中最好的。”第二位高度好评的客户解释说:“金杜律师事务所对于中国市场拥有深厚的知识,
106、提供的建议反映当地情况。”另一位印象深刻的知情人士观察说:“他们对不同的融资结构比较熟悉。”业务亮点 为中国民生银行就向物美商业集团提供13亿欧元收购融资贷款以购买METRO China的多数股权提供法律咨询。代理中国南方航空就七架空客A330-200售后回租提供法律咨询。领先律师Jack Wangis highly regarded in the market for his rich expertise in international project finance and foreign direct investment.He is frequently sought after f
107、or his knowledge of trade and asset finance,and is also proficient in handling derivatives.王军律师在市场以国际项目融资和外商直接投资而受高度认可。他亦以其贸易和资产融资有关知识而经常被追捧,且亦精通处理衍生品事宜。Wang Lingis the managing partner of the firm and is a highly renowned banking and finance lawyer.She is recognised as an expert on project and infr
108、astructure fi-nance.One deeply impressed market source observes that“she is a very capable lawyer.”王玲律师为该律所的管理合伙人并是十分知名的银行与金融律师。她被认为是项目与基础设施融资的专家。一位印象深刻的市场消息人士观察道:“她是非常能干的一位律师。”Ma Feng leads the firms aviation finance team and is regularly engaged as legal counsel by airlines and air-craft leasing c
109、ompanies.He is lauded by one complimentary client as a“good team lead-er”who“knows everything about aviation”and has“strong communication skills.”马峰律师领导该律所的航空金融团队,且定期被航空及飞机租赁公司聘为法律顾问。他被一位好评的客户赞扬为“很好的团队领袖,”并且“他对航空领域各个方面都了解,”也有“很强的沟通能力。”Stanley Zhou is an accomplished financial services lawyer who is
110、famed for his exper-tise in real estate and structured finance.“He is quite stable in his work,”observes one admiring market source,who notes that“he is also quite focused on banking work.”周昕律师是具备业绩的金融服务律师,以其房地产及结构性金融有关专门知识而驰名。“他的业务比较稳定,”有一位钦佩的市场知情人士如此观察,补充指出“他还比较专注银行业务。”Wang Ning is well known for
111、his representation of leas-ing companies and airlines in aircraft leasing and financing matters.“Wang Ning partici-pates a lot,being very hands-on in projects,”explains one complimentary interviewee.王宁律师以其在飞机租赁和融资事务上代表租赁公司和航空公司而知名。“王宁参与很多,在项目上很亲力亲为,”有一位好评的受访者这样解释。Chen Jie is increasingly famed for h
112、er ex-pert handling of aircraft leasing and financing matters.“She was incredibly responsive and knowledgeable about the market,”recounts one satisfied client.“I would absolutely rec-ommend her,”says the same source.陈洁律师以其精通处理飞机租赁和融资事务而日益闻名。“她的回应速度非常快,也很通晓市场,”一位满意的客户如此回顾。“我肯定推荐她,”该消息人士这样说。Lv Yinghao
113、 is acknowledged in the market for his expertise in project and acqui-sition finance.One impressed market source reports that“he responds quickly and his work is good.”吕膺昊律师在市场以其项目和收购融资而受到认可。有一位市场消息人士如是报道说:“他的反应速度很快,而且他的业务很好。”Llinks Law OfficesWhat the team is known for Llinks Law Offices has a busy
114、 practice handling a range of mat-ters including syndicated loans,project finance,trade finance and general lending,and is particularly noted for its experience in handling outbound finance work.Its roster spans international and domestic banks,trust companies and other financial institutions.Receiv
115、es regular mandates on asset manage-ment issues and provides regulatory advice to banks and fund managers.Strengths One pleased client says that the teams“services are timely and professional.”Work highlights Advised a syndicate of lenders including Hang Seng Bank,HSBC and Bank of East Asia on a CNY
116、240 million loan to acquire SCE Plaza.Notable practitioners业务优势 通力律师事务所业务繁忙,处理包括银团贷款、项目融资、贸易融资和一般借贷的一系列事务,尤其以处理对外融资工作的经验而闻名。客户名单涵盖国际和国内银行、信托公司和其他金融机构。经常受到委托处理资产管理事务,并为银行和基金经理就监管事务提供意见。团队强项 一位满意的客户说该团队的“服务及时、专业。”业务亮点 为一支包括恒生银行、汇丰银行和东亚银行的贷款银团就其出借价值人民币2.4亿元贷款以收购中骏广场提供法律咨询。领先律师Michael Mei(请参见第323页)handl
117、es a wide range of financial services mandates,includ-ing project,trade and acquisition finance.He is also well versed in commercial dispute res-olution as well as insolvency and debt restruc-turing work.梅亚君(请参见第323页)律师从事广泛范围的金融服务委托,包括项目、贸易和收购融资事宜。他亦精通商业争议解决以及破产和债券重组方面业务。Zhong Lun Law FirmWhat the t
118、eam is known for Zhong Lun Law Firm has extensive experience and knowledge of a full spectrum of banking services,from han-dling term loan facilities to syndicated loan transactions.Active in cross-border financing,representing a variety of clients including domestic and foreign lenders,borrowers an
119、d sponsors.Adept at handling acquisition finance,project finance and real estate trans-actions.The practice has further expertise in asset securitisation,banking compliance and fintech work.Strengths One admiring market observer remarks that“Zhong Lun has developed very well and is an excellent law
120、firm.”Another source describes the team as“knowl-edgeable and always willing to serve.”Work highlights Advised a consortium of Chi-nese policy banks on restructuring a syndi-cated loan to finance the construction of two coal-fired power plants in Pakistan.Notable practitioners业务优势 中伦律师事务所在全方位银行服务方面拥
121、有丰富的经验和知识,处理从定期贷款到银团贷款交易的全面银行业务。积极参与跨境融资,代表包括国内和国外的贷款人、借款人和发起人在内的各类客户。擅长处理收购融资、项目融资和房地产交138China(PRC Firms)Capital Markets 资本市场 易。同时还具备处理资产证券化、银行合规以及金融科技业务方面的专业能力。团队强项 一位欣赏的市场观察者评论道:“中伦的发展非常好,也是很优秀的律所。”另一位消息人士将该团队描述为“知识丰富,总是愿意协助。”业务亮点 为一家中国政策性银团就重组银团贷款提供咨询,以资助在巴基斯坦建设两座燃煤电厂。领先律师Lu Jing(请参见第323页)has a
122、 wealth of ex-perience in banking and finance transactions,including domestic and cross-border financ-ings.She is also regularly engaged to handle restructuring and insolvency matters.陆菁(请参见第323页)律师富有银行与金融类交易有关经验,包括国内及跨境融资。她亦以处理重组及破产事宜而定期受聘。Chen Dongyue(请参见第314页)is experienced in handling a range of
123、 financing matters for corporate clients and financial institutions.He is also proficient in handling mergers,acquisitions and securities issuances.陈冬悦(请参见第314页)律师以代理公司和金融机构处理一系列融资事务而经验丰富。他亦擅长处理合并、收购和证券发行事宜。Yuan Ting(请参见第332页)has a growing reputa-tion for his capable handling of project and asset fi
124、nancing mandates.His expertise in debt financing transactions is also frequently sought after by domestic and international banks.原挺(请参见第332页)律师以其能干地处理项目和资产融资委托而名声渐隆。他的债务融资交易有关经验亦经常被国内外银行追捧。Other Ranked Lawyers 其他上榜律师Huang Zhengda of Beijing DHH Law Firm is well regarded for his corporate law practi
125、ce on behalf of airlines and other aviation sector cli-ents.He handles acquisitions,corporate reor-ganisation and dispute resolution mandates.北京德和衡律师事务所的黄振达律师以其代理航空公司及其他航空领域客户的公司法业务而驰名。他从事合并收购、企业改制和争议解决方面委托。Jin Zhe of Grandall Law Firm boasts a strong background in insurance law,and leverages this e
126、xpertise to assist airlines with their insurance needs.He also handles the sale and leaseback of aircraft for aviation sector clients.国浩律师事务所的金喆律师有很强的保险法背景,且将其专业知识用以协助航空公司的保险法需求。他亦为航空领域客户处理飞机出售和回租方面业务。Pan Xiuping of Longan Law Firm is a senior partner in the banking and finance team.He is proficient
127、 in a variety of financial law matters,including capital markets transactions and regulatory compliance.隆安律师事务所的潘修平律师是银行与金融团队的高级合伙人。他精通各种金融法律事务,包括资本市场交易和监管合规事宜。Dorothy Xing of East&Concord Partners is a managing partner of the firm and is widely rec-ognised for her expertise in financial regula-tory
128、 matters.She is also regularly mandated to handle corporate law transactions,including securities issuances.天达共和律师事务所的 邢冬梅律师是该律所的管理合伙人,并且以其金融监管事务有关专门知识而广受认可。她亦定期受到处理公司法律交易的委托,包括证券发行事宜。CHINA(PRC FIRMS):An Introduction to Capital Markets:Domestic IssuancesContributed by Junjie Liang,Haojia Zhuang,Chan
129、gcheng Ye,Alex Liu of Global Law OfficeCapital Market:An Overview of IPO in Mainland ChinaPractice IntroductionIn the first three quarters of 2021,over CNY368 billion has been successfully raised by around 370 Chinese corporations by way of domestic IPOs,while the number of corporations going public
130、 just exceeded 380 in 2020.It was expected that the number of Chinese corporations going public in the year of 2021 would over-shadow that of 2020 in the near future.At the same time,a series of innovations,such as the merger between Shenzhen Stock Ex-change main board and its small and medium-sized
131、 board(herein-after referred to as“SME Board”),the progress of auditing stand-ard for the science and technology innovation board(hereinafter referred to as“STAR Market”),the establishment of spin off and listing as well as the launch of the Beijing Stock Exchange,are also notable in the capital mar
132、kets arena.Merger of Main Board and SME Board in Shenzhen Stock Ex-changeIn February 2021,China Securities Regulatory Commission ap-proved the merger of Shenzhen Stock Exchanges main board and SME Board.Set up in the beginning of 2004,the SME Board had been serv-ing as the main financing channel for
133、 corporations not eligible for issuance on main board,and paving the way for the growth enter-prise market(hereinafter referred to as second-board market).Up until the merger,1004 corporations had been successfully listed on the SME Board,signalling a huge success of this financing channel.At presen
134、t,with the diversification of fund-raising ap-proaches and the implementation of registration system,Beijing Stock Exchange and the second-board market appear as alterna-tive options.After the merger,a new era in Chinese capital mar-kets pillared by the main board of Shanghai Stock Exchange and its
135、STAR Market,the main board and the ChiNext of Shenzhen Stock Exchange as well as Beijing Stock Exchange has begun.Each pillar mentioned above plays a different role in capital markets.While STAR Market centres on assisting companies fo-cusing on emerging sectors of strategic importance as well as hi
136、gh and new technologies,the ChiNext of Shenzhen Stock Ex-change benefits corporations and start-ups involving integration between traditional industries and new technologies,industries and business models,and the Beijing Stock Exchange provides small and medium-sized companies that are in their earl
137、y devel-opment stage with financing opportunities.A Leap-Forward in Audit System for STAR Market:Hard&Core Technology Is Required In the first half of 2021,multiple applications for issuance on STAR Market were withdrawn due to the development and change of audit system.Firstly,intermediary institut
138、ions are propelled to tighten their duties as gatekeepers in accordance with the re-quirements stipulated in the new version of Securities Law of the Peoples Republic of China.Secondly,the disclosure of information about shareholders and relevant verification requirements are further strengthened.In
139、 addition,a more comprehensive evalua-tion of the possession of hard and core technology is emphasised in the audit system according to substance over form Capital Markets 资本市场China(PRC Firms)It is foreseeable that it will be the new normality in order to guarantee the quality of to-be-listed corpor
140、ations,emphasise the uniqueness of the STAR Market as well as to avoid the overlap of different financing channels.The Start of Spin-off and ListingOn 12 December 2019,Chinese Securities Regulatory Commission issued Several Provisions on the Pilot Program of Listed Companies Spin-off of Subsidiaries
141、 for Domestic Listing,stating the require-ments,procedures and other ensuing supervision and inspection duties of the spin-off and listing of listed companies.A year later,Shengyi Electronics Co.,Ltd.put an end to its long journey of ap-plication and became the first listed company to spin off and g
142、o listed on STAR Market on 15 February 2021.By the end of Octo-ber,8 A-share listed companies have successfully spun off their businesses to their subsidiaries and had them listed respectively.To those giant,high quality listed companies involved in versa-tile fields of businesses,the provisions off
143、er new routes for fur-ther development of derivatives and fund-raising.This mechanism also guarantees the independence between different businesses hence improving corporation management at large.The Establishment of Beijing Stock ExchangeOn 2 September 2021,Xi Jinping,President of PRC,announced the
144、 establishment of Beijing Stock Exchange during a speech to China International Fair for Trade in Services.On 15 November 2021,the Beijing Stock Exchange started trading,indicating a big step forward to complete multilayered capital market,accelerate the perfection of financing support system for sm
145、all and medi-um-sized companies,promote innovation-driving development and encourage economic transition and upgrade.Of 81 listed corporations on the Beijing Stock Exchange,71 were transferred from a selected layer of National Equities Exchange and Quotations(hereinafter referred to as“New Third Boa
146、rd”),and the other 10 went listed directly.As opposed to the Shanghai Stock Exchange and Shenzhen Stock Exchange,the Beijing Stock Exchange specialises in serving small and medium-sized compa-nies which have characterisation,refinement,specialisation and novelty in their nature and function only as
147、one link of the whole industrial chain.The actual status of its operation,ongoing construction of au-dit system,financing and value assessment will be unveiled in the near future.The Issuance of Guiding Opinions of Improving the Quality of Infor-mation Disclosure in Company Prospectus(Consultation P
148、aper)On 29 October 2021,the Chinese Securities Regulatory Commis-sion issued Guiding Opinions of Improving the Quality of Information Disclosure in the Prospectus under the Registration System(Con-sultation Paper)(hereinafter referred to as“Guiding Opinions”)for public consultation.According to Guid
149、ing Opinions,intermediary institutions should scrupulously fulfil their duties in compiling the prospectus to improve reasonable trust principle and set duty boundaries between intermediary institutions.Referencing foreign capital markets practices,the Guiding Opinions points out that the content in
150、volving legal issues,busi-nesses and financing issues in the prospectus can be compiled by recommending agencies in cooperation with law firms.As we can see,under the registration system,regulatory institutions will pay more attention to the quality of information disclosure and the protection of se
151、condary market investors to realise the ultimate goal of high quality development of capital markets,and that Chi-nese lawyers will play a more important role.140China(PRC Firms)Capital Markets 资本市场 CHINA(PRC FIRMS):An Introduction to Capital Markets:Hong Kong and Overseas IssuancesContributed by Ji
152、ngtian&GongchengIn 2020,Chinas capital markets entered their thirtieth year.Enter-ing into 2021,new rules and regulations released by the regulato-ry authorities have had a profound influence on capital markets both domestically and overseas.As of 31st December 2021,there were a total of 4,697 liste
153、d companies in the A-shares market.Benefiting from the domestic economic recovery,reform and development of the registration system and the establishment of the Beijing Stock Exchange,522 companies were successfully listed in the A-shares market in 2021,an increase of 127 compared with 2020.However,
154、the sit-uation of A-shares issuers queuing up for listing has not changed significantly.By 31st December 2021,there were around 900 po-tential issuers that were under review and waiting to be listed in the A-shares market.In the third and fourth quarters of 2021,the selected layer of the National Eq
155、uities Exchange and Quotations(“NEEQ”)board and the Beijing Stock Exchange both opened for trading.The introduction of a transmission mechanism between these two boards was also a milestone for Chinas capital markets.The China Securities Regulatory Commission(“CSRC”)enhanced its supervision of both
156、issuers and the commission itself,and in 2021,the CSRC issued the“Guidelines for the Application of Regulatory Rules-Disclosure of Shareholder Information by Com-panies Applying for Initial Public Offerings”,“Guidelines for the Supervision of Investment Behaviour of Resigned Staff in the Se-curities
157、 Regulatory Commission System”and the revised“Guide-lines for the Evaluation of Science and Technology Innovation At-tributes”,and other regulations applicable to A-shares issuers.In general,the A-shares market became more strictly regulated in 2021,which in turn became more burdensome for issuers p
158、repar-ing for listing.The number of newly listed companies in the Hong Kong mar-ket decreased in 2021,but the number of newly listed biotech companies rose suddenly this year.The number of newly listed domestic companies on the Hong Kong Stock Exchange(“HKEX”)in 2021 dropped from 109 to 87,compared
159、with 2020,and total funds raised also dropped from approximately CNY300 billion to CNY241 billion.However,Hong Kong is still the priority choice for domestic companies that intend to go public overseas.Although,the number of newly listed companies has declined,and the time taken by the HKEX to revie
160、w applications has grown longer,bio-tech companies are unexpectedly bucking the trend.The twenty newly listed biotech companies in 2021 was the highest number on record since the promulgation of Chapter 18A of the Main Board Listing Rules of HKEX in April 2018.In May 2021,HKEX announced the main boa
161、rd profit consultation summary,and in the last two months of 2021,HKEX published the consultation summary on optimising and simplifying the rules for overseas issuers,broadened the secondary listing channels,and officially announced that the Special Purpose Acquisition Company listing would take eff
162、ect on 1st January 2022.Domestic regulatory policies also affected US capital markets in 2021,causing Chinese companies to encounter numerous dif-ficulties listing in the US.The implementation of the“double re-duction”policy in the education industry and the publication of Measures for Cybersecurity
163、 Review by the Cyberspace Adminis-tration of China and other rules relating to data security and per-sonal information protection led to Chinese companies delaying listing in the US or considering listing in Hong Kong instead.The immediate consequence was that a total of 36 Chinese companies were li
164、sted in the United States,among which,35 companies were listed in the first half of 2021,with no other Chinese companies getting listed in the US since August 2021.In addition to the pres-sure of the domestic regulatory environment,those US-listed Chi-nese companies also face challenges from the Hol
165、ding Foreign Companies Accountable Act.However,CSRC,the US Securities and Exchange Commission,and the Public Company Accounting Oversight Board are constructively discussing the possibility of China-US audit cooperation.By the end of 2021,draft versions of the“Regulations Regard-ing the Administrati
166、on of Domestic Companies Overseas Securi-ties Issuance and Listing”and the“Administrative Measures for Filing of Domestic Companies Overseas Securities Issuance and Listing”laws were issued to solicit public opinions,and the“Spe-cial Administrative Measures(Negative List)for Access of Foreign Invest
167、ments(2021 Edition)”also specifically added regulations relating to overseas listing by domestic companies.These regula-tions will also have a far-reaching impact on Chinas capital mar-kets once they are Capital Markets 资本市场China(PRC Firms)The editorial is in alphabetical order by firm name.AllBrigh
168、t Law OfficesWhat the team is known for AllBright Law Offices is proficient in handling debt and equity transactions as well as M&A and the restructuring of listed companies.Con-tinues to assist domestic clients in industries ranging from banking and financial services to healthcare and real estate
169、on NEEQ exchange listings.Deals with A-share listings on the Shanghai and Shenzhen Stock Exchanges.Strengths Clients highlight AllBrights depth of expertise and pragmatic approach at work.“The AllBright team has profound capital market expertise,deep IPO projects experience and a down-to-earth worki
170、ng attitude.”Another interviewee appreciates that“the AllBright lawyers understand the industry well and are able to provide value-added service and advice.”Work highlights Acted for Caitong Securities on its issuance of convertible corporate bonds.Notable practitioners业务优势 锦天城律师事务所精通处理债务、股权交易及上市公司的
171、并购重组。继续协助银行、金融服务、医疗健康、房地产等不同行业的国内客户,处理新三板挂牌事宜。处理在上海和深圳交易所A股上市事宜。团队强项 客户强调锦天城深厚的专业实力和务实的办事风格。“锦天城团队有深厚的资本市场专业能力和丰富的IPO项目经验,工作态度也非常踏实。”另一位受访者称赞“锦天城的律师对行业有很好的认识,并能够提供增值服务和意见。”业务亮点 代表财通证券处理其可转换公司债券的发行。领先律师Shen Guoquan is a senior partner in the firm with considerable experience in handling A-share issua
172、nces.“Of course he is quite strong in winning the clients trust,”observes one commentator.He is highlighted for his deep knowledge of capital markets regula-tions.沈国权律师是该所高级合伙人,在处理A股发行方面拥有丰富经验。“他的确非常擅长赢得客户的信任,”一位评论者观察道。他对资本市场法规的深入理解尤其受到瞩目。Zhang Xiaohong co-heads the capital markets practice at All-B
173、right Law Offices and is a capital markets veteran who is well versed in a wide range of financial law matters.Although now based primarily in Shanghai,he also has a strong base of clients in Zhejiang Province,where he spends part of his time.In a work highlight,he assisted Xinjiang Hongtong Natural
174、 Gas with its IPO on the main board of the Shanghai Stock Exchange.章晓洪律师是该所资本市场业务联席负责人,也是一位精通各类金融法律事务的资本市场资深人士。尽管目前主要常驻上海,他在浙江省也拥有强大客户群,并把部分时间分配在该省工作。在业务亮点中,他处理新疆洪通燃气在上海证券交易所主板的首次公开募股。Shen Cheng is a key member of AllBright Law Offices capital markets offerings.He demonstrates expertise in handling
175、high-profile STAR board listing and A-share issuance matters.沈诚律师是锦天城律师事务所资本市场业务的关键成员。他在备受关注的科创板上市和A股发行事务的处理展现出他的专业知识。Beijing Kangda Law FirmWhat the team is known for Kangda Law Firm fields an established team with a robust offering,assisting a wide range of state-owned enterprises and private sect
176、or firms on bond issuances.Acts as issuers counsel to com-panies listing on the Shanghai and Shenzhen Stock Exchanges.Strong domestic securities practice is complemented by experienced spe-cialists who are deeply familiar with the IPO review process.Strengths One pleased client reports:“The Kangda t
177、eam is able to professionally com-bine the clients needs with the latest approval review process,and propose refined solutions using its professional legal knowledge,ulti-mately achieving the goal of the clients project.”Another source agrees and also appreciates the teams“quick responses to clients
178、 ques-tions and good service.”Work highlights Acted for Shengyi Elec-tronics,a subsidiary of A-share listed company Shengyi Technology,on its listing on the STAR board of the Shanghai Stock Exchange.Notable practitioners业务优势 康达律师事务所的成熟团队业务强劲,协助广泛的国有企业及私营企业处理债券发行事宜。也在上海和深圳证券交易所的上市交易中为发行人担任法律顾问。拥有非常熟悉
179、IPO审核过程的资深专家,是对该所强大的国内证券业务的补充。团队强项 一位满意的客户评论道:“康达团队能将客户需求和最新审批审核流程专业地结合起来,运用专业法律知识提供精炼的解决方案,最终达成客户项目目标。”另一位评论者同意,并称赞该团队“对客户的问题反应迅速,提供很好的服务。”业务亮点 代表A股上市公司生益科技的子公司生益电子,在上海证券交易所科创板上市。领先律师Lou Aidong is a well-regarded capital mar-kets practitioner who has considerable exper-tise of IPO regulations and r
180、eview process.She wins high respect among peers,with sources noting:“She is a senior and experi-enced lawyer in the market.”娄爱东律师是一位*Indicates individual with profile.(ORL)=Other Ranked Lawyer.Alphabetical order within each band.Band 1 is highest.Band 1Kong Xin Commerce&Finance Law Offices(Tongshang
181、)*Liu Jinrong Global Law Office*Tang Lizi King&Wood MallesonsYan Yu Jia Yuan Law OfficesZhao Anthony Zhong Lun Law Firm*Band 2Chen Wayne Llinks Law Offices*Ding Jeffrey J Fangda PartnersFu Siqi Tian Yuan Law FirmGao Xiang Jingtian&Gongcheng*Guan Jianjun(Charles)Grandall Law FirmGuo Kejun Zhong Lun L
182、aw Firm*Liu Yan Tian Yuan Law FirmLou Aidong Beijing Kangda Law FirmWang Yi JunHe LLPWu Gang Commerce&Finance Law Offices(Tongshang)Xu Jianjun DeHeng Law Offices*Yu Yongqiang JunHe LLPBand 3Gong Mulong King&Wood MallesonsJiang Ruiming Beijing Grandway Law Offices*Li Cheng Global Law Office*Liang Chu
183、nwei Jingtian&Gongcheng*Shen Guoquan AllBright Law OfficesSu Zheng King&Wood MallesonsTang Qier Fangda PartnersWang Weiguo Jingtian&Gongcheng*Wu Xiaoliang CM Law FirmLeading IndividualsSenior Statespeople:distinguished older partnersBai Wei Jingtian&Gongcheng*Chen Limin Zhong Lun Law Firm*Shao Chuny
184、ang JunHe LLPWang Lihua Tian Yuan Law FirmWang Lixin King&Wood MallesonsZhang Yongliang King&Wood Mallesons Senior Statespeople and Eminent PractitionersCapital Markets:Debt&EquityCapital Markets Debt&Equity 资本市场:债务与股权Eminent PractitionersChao Yijun Han Kun Law Offices*Han Christophe Llinks Law Offi
185、ces*Liu Su Haiwen&PartnersLiu Wei Grandall Law FirmShi Tiejun JunHe LLPWu Guanxiong Tian Yuan Law FirmZhang Liguo Beijing Grandway Law Offices*Zhang Shenghuai Hai Run Law Firm(ORL)Xu Ping Tian Yuan Law FirmZhang Wen Jia Yuan Law OfficesZhang Xiaohong AllBright Law OfficesZhang Xiaoman Commerce&Finan
186、ce Law Offices*Zhou Ning King&Wood MallesonsZhu Xiaohui Tian Yuan Law FirmBand 4Cui Liguo Guantao Law FirmGao Wei Haiwen&PartnersHu Qi Grandway Law Offices*Hu Zhengzheng Jingtian&Gongcheng*Kang Yan Fangda PartnersLi Chenliang JunHe LLPLing Tezhi Jingtian&Gongcheng*Liu Chengwei Global Law Office*Pan
187、Xinggao Commerce&Finance Law Offices*Piao Yu Tian Yuan Law FirmRen Wei Jingtian&Gongcheng*Wang Bing W&H Law Firm(ORL)Zhang Zhiqiang Jingtian&Gongcheng*Zhou Rui King&Wood MallesonsUp-and-coming individualsHou Zhiwei DeHeng Law Offices*Jia Haibo Zhong Lun Law Firm*Jiang Xueyan Fangda PartnersShen Chen
188、g AllBright Law OfficesZang Xin Beijing Grandway Law Offices*Zhang Jian Shihui Partners*142China(PRC Firms)Capital Markets 资本市场 备受好评的资本市场律师,在首次公开招股法规和审核流程方面具备相当的专业能力。她在该领域的技能赢得了同行的高度尊重,其中一位评价:“她是市场上的资深和经验丰富的律师。”CM Law FirmWhat the team is known for CM Law Firm is a vibrant and growing boutique finan
189、cial ser-vices law firm based in Shanghai with a strong focus on debt and equity issuances.The managing partner has a longstanding capital markets practice and previously worked at a prominent national law firm.Work highlights Assisted ZhongAn Online P&C Insurance on the issuance of USD600 million w
190、orth of senior notes.Notable practitioners业务优势 上海澄明则正律师事务所是一家为于上海的金融服务精品律所,充满活力且发展迅速。重点关注债券和股权发行。该所管理合伙人具有悠久的资本市场业务实践,并曾在一家著名的全国律师事务所工作。业务亮点 协助众安在线财产保险发行价值6亿美元的优先票据。领先律师Wu Xiaoliang is the driving force of the team and is a dynamic financial services lawyer in her own right.She is well recognised fo
191、r her expertise in domestic and cross-border cap-ital markets work,encompassing IPOs and bond issuances.吴小亮律师是该团队的驱动力,也是一位充满活力的金融服务律师。她在首次公开募股、债券发行等国内和跨境资本市场的工作受到高度认可。Commerce&Finance Law Offices(Tongshang)What the team is known for Commerce&Finance Law Offices moves into the top band this year with
192、 impressive market expertise.Possesses a capable bench of capital mar-kets specialists.Especially well regarded for its expert knowledge of overseas structures,and often mandated by major underwriters on both equity and debt transactions.Regularly advises clients on listings in Hong Kong,as well as
193、cross-border bond issuances.Demon-strates a strong track record in handling corporate financing transactions,including H-share offerings and dual listings for clients.Noted for its focus on the education,health-care,TMT,new energy and property manage-ment sectors.Strengths The firm wins a lot of pra
194、ise from various sources.Clients single out the firm for its depth of experience.One pleased source reports:“They have a lot of practical experience in both overseas and domestic capital markets world,as well as good background knowledge and understanding of the technical stuff.There-fore they are m
195、ore detailed in their work and are able to give specialist advice.”“Theyre able to stand from the companys per-spective to solve problems for clients.They wouldnt just tell you what the law is and what the problems are,but they solve issues for the clients,”appreciates one interviewee,while another
196、adds:“They are easy to work with and provide a lot of insights.”Work highlights Commerce&Finance Law Offices acted for Sunac Services Holdings on its listing on the main board of the Hong Kong Stock Exchange.Notable practitioners业务优势 通商律师事务所今年凭借令人印象深刻的市场专业能力进入了榜单第一级别。拥有一支具实力的资本市场专家团队。其海外交易结构的专业知识尤其受
197、到好评,常常受到大型承销商委托,处理股权和债务交易。经常协助客户处理香港上市和跨境债券发行。在为客户处理H股发行、双重上市等公司融资交易拥有强劲履历。其对教育、医疗健康、通讯媒体、新能源和物业管理领域的专注受到瞩目。团队强项 该所赢得了来自各消息人士的赞赏。客户特别强调该所的深厚经验。一位满意的消息人士评价道:“他们在国际和国内资本市场领域都有很多实践经验,对于技术方面也有很好的背景知识和理解。因此他们的工作做得更细致,能够给予专家意见。”“他们能够站在公司的角度为客户解决问题。他们不会告诉你法律是什么,问题是什么,但是能为客户解决问题,”一位受访者称赞道。另一位也补充说:“他们易于合作,提供
198、了很多深入见解。”业务亮点 代表融创服务,协助其在香港联交所主板上市。领先律师Kong Xin(请参见第320页)is a senior figure within the firm who remains a hands-on law-yer.He is well regarded for his deft handling of overseas listings,and is often mandated in high-value projects.“Kong Xin is a technically very solid and well-rounded lawyer,”enthus
199、-es one client,further remarking:“He has a well-balanced capital markets practice,and is a very commercial lawyer with strong interper-sonal skills.”孔鑫(请参见第320页)律师是该所资深人物,仍是亲力亲为的律师。他对海外上市的灵巧的处理备受好评,经常受到委托处理高额项目。“孔鑫律师是技术扎实,能力全面的律师。”一位客户热情道,并补充说:“他拥有非常平衡的资本市场业务,是一位有很强沟通技巧和具商业头脑的律师。”Wu Gang has a longs
200、tanding presence in the market.He is best known for his expertise and achievements in H-share is-suances,but also handles A-share and com-bined A+H-share issuances.One client notes:“Wu is of course very experienced.He thinks ahead for the clients,anticipates issues and of-fers solutions.”Another sou
201、rce finds him an“impressive lawyer”who is“creative in solv-ing problems.”吴刚律师在业界资历深厚。他以H股发行的专业能力和成绩最为著名,同时也处理A股和A+H股合并发行。一位客户评价说:“吴律师的经验确实非常丰富。他会提前为客户考虑,预判到可能出现的问题并提供解决方案。”另一位客户认为他是一位“令人印象非常深刻的律师”,“能用创造性的方式解决问题。”Zhang Xiaoman(请参见第333页)has a robust practice that bal-ances capital markets and corporat
202、e/M&A.资本市场:债务与股权业界元老和业界贤达业界元老白维 竞天公诚律师事务所*陈利民 中伦律师事务所*邵春阳 君合律师事务所王立华 天元律师事务所王立新 金杜律师事务所张永良 金杜律师事务所 业界贤达晁毅军 汉坤律师事务所*韩炯 通力律师事务所*刘速 海问律师事务所刘维 国浩律师事务所石铁军 君合律师事务所吴冠雄 天元律师事务所张利国 国枫律师事务所*张圣怀 海润天睿律师事务所 领先律师第一级别孔鑫 通商律师事务所*刘劲容 环球律师事务所*唐丽子 金杜律师事务所颜羽 嘉源律师事务所赵靖 中伦律师事务所*第二级别陈巍 通力律师事务所*丁继栋 方达律师事务所傅思齐 天元律师事务所高翔 竞天公
203、诚律师事务所*管建军 国浩律师事务所郭克军 中伦律师事务所*刘艳 天元律师事务所娄爱东 康达律师事务所王毅 君合律师事务所吴刚 通商律师事务所徐建军 德恒律师事务所*余永强 君合律师事务所第三级别龚牧龙 金杜律师事务所姜瑞明 国枫律师事务所*李琤 环球律师事务所*梁淳蔚 竞天公诚律师事务所*沈国权 锦天城律师事务所苏峥 金杜律师事务所唐奇儿 方达律师事务所王卫国 竞天公诚律师事务所*吴小亮 上海澄明则正律师事务所徐萍 天元律师事务所张汶 嘉源律师事务所章晓洪 锦天城律师事务所张小满 通商律师事务所*周宁 金杜律师事务所朱小辉 天元律师事务所第四级别崔利国 观韬中茂律师事务所高巍 海问律师事务所
204、胡琪 国枫律师事务所*胡铮铮 竞天公诚律师事务所*康言 方达律师事务所李辰亮 君合律师事务所凌特志 竞天公诚律师事务所*刘成伟 环球律师事务所*潘兴高 通商律师事务所*朴昱 天元律师事务所任为 竞天公诚律师事务所*王冰 北京炜衡律师事务所 章志强 竞天公诚律师事务所*周蕊 金杜律师事务所潜质律师侯志伟 德恒律师事务所*贾海波 中伦律师事务所*蒋雪雁 方达律师事务所沈诚 锦天城律师事务所臧欣 国枫律师事务所*张健 世辉律师事务所*意为该律师提供了个人简介 其他上榜律师同等排名不分先后,均按英文字母顺序排名。 Capital Markets 资本市场China(PRC Firms)He is we
205、ll versed in both domestic and overseas issuances as well as domestic and cross-border M&A transactions.“Clients like and trust him,he doesnt only have a lawyer role to play but also acts as business partner and strategist for them,”observes one enthused source,who further emphasises:“He is very str
206、ong in Hong Kong and US capital markets work.I would highly recommend him.”张小满(请参见第333页)律师业务扎实,兼顾资本市场和公司并购的工作。他精通国内、海外发行及国内、跨境并购交易。据一位十分热情的客户观察:“客户喜欢他,信任他。他不仅扮演者律师的角色,也为客户担任商业伙伴和策略家的角色。”该客户进一步强调:“他在香港和美国资本市场的工作能力很强。我强烈推荐他。”Pan Xinggao(请参见第324页)is active on a wide range of financial legal projects fo
207、r corporate clients,including A-share and bond issuances,and mergers and acquisitions.He has over two decades of experience and has maintained a notable focus on capital markets.One interviewee af-firms that“he is good at bond issuance work.”潘兴高(请参见第324页)律师活跃于为企业客户处理广泛金融法律项目,包括A股和债券发行、合并和收购。他拥有超过二十年
208、的经验,持续专注于资本市场。一位受访者证实“他擅长处理债券发行工作。”DeHeng Law OfficesWhat the team is known for DeHeng Law Offices assists a range of banks with onshore debt and equity offerings relating to IPOs,cor-porate bonds,preferred share and guaranteed notes issuance,with additional capabilities in major asset restructuring
209、 and corporate governance.Additional experience in han-dling debt-for-equity swaps for major SOEs.Reputed for its experience in handling listings on the Shanghai,Shenzhen and Hong Kong Stock Exchanges.Strengths One pleased client describes the team as“very young and energetic,”and appre-ciates that“
210、the lawyers offer efficient services.”Work highlights Mandated as underwriter counsel by Haitong Securities in relation to Semiconductor Manufacturing International Corporation(SMIC)s A-share issuance.Notable practitioners业务优势 德恒律师事务所协助各类银行处理与IPO、企业债券、优先股和担保票据相关的在岸债务和股权发行,在重大资产重组和公司治理方面也具备专业能力。此外,还具
211、备为大型国企处理债务股权置换方面的经验。以处理上海、深圳、香港证券交易所上市事宜的经验而闻名。团队强项 一位满意的客户描述该团队“非常年轻和有活力”,并称赞“律师们提供高效服务。”业务亮点 受海通证券委托,担任承销商的法律顾问,处理中芯国际(SMIC)的A股发行。领先律师Xu Jianjun(请参见第330页)is a prominent figure in both the firm and the market,spe-cialising in capital markets and restructuring.He has notable skills in undertaking li
212、stings and private placement matters for both issu-ers and underwriters.Market commentators acknowledge that“Xu Jianjun is doing well in the domestic market.”徐建军(请参见第330页)律师在该所和市场里都是一位杰出人物,专注于资本市场和重组事务。他在代表发行人和承销商处理上市和私募事宜方面拥有突出能力。市场评论人士认为“徐建军律师在国内市场表现很好。”Hou Zhiwei(请参见第318页)continues to make a name
213、 for himself in the market,particularly on debt issuance mandates.He is sought af-ter by a range of corporate clients for his ex-pertise in a variety of bond issuances,includ-ing green bond issuances.A work highlight saw him assisting Kweichow Moutai Group with its corporate bond issuance.侯志伟(请参见第31
214、8页)律师继续在市场中建立声望,在债务发行领域表现尤为突出。他因在包括绿色债券发行在内各种债务发行方面的专业能力而受到众多公司客户的青睐。在业务亮点中,他协助贵州茅台发行公司债券。Fangda PartnersWhat the team is known for Fangda Partners is a solid corporate practice with extensive experience in overseas equity and debt offer-ings,including IPOs and H-share convertible issuance.Known for
215、 advising on listings in the USA and Hong Kong.Equipped to handle corporate bonds,perpetual bonds and Panda bonds issuances.Continues to serve a host of leading TMT and internet companies,as well as financial institutions.Active in representing both issuers and underwriters in the domestic market,es
216、pecially with regard to companies delisted from overseas markets returning to the domestic market.Strengths“Fangda is key to our success,”one client reveals,who goes on to explain:“The lawyers are very,very well experienced and very familiar with market practice.It is a special structured deal and n
217、o one has done it in this way.They explain to the authority why the struc-ture would not violate the laws in any way.”Another source highlights Fangdas service,adding:“They are very responsive.It is a 24/7 service,there are a lot of long nights and they are always on standby to sign off the work.”Wo
218、rk highlights Acted for China International Capital Corporation(CICC)in relation to SMICs IPO on the STAR board of the Shanghai Stock Exchange.Notable practitioners业务优势 方达律师事务所业务扎实的公司法团队拥有广泛的海外股票和债券发行经验,包括首次公开招股和H股可转换股发行。以为美国和香港上市提供法律意见而著称。具备办理公司债券、永续债券、熊猫债券发行的业务能力。继续为领先的通讯媒体、互联网公司和金融机构提供服务。活跃于在国内市场
219、代表发行人和承销商,对处理公司从海外市场退市回归国内资本市场表现尤为出色。团队强项 一位客户透露:“方达对我们的成功起到了关键作用”,并解释道:“团队中的律师非常非常有经验,对市场的业务非常熟悉。对于这笔结构Band 1Commerce&Finance Law Offices(Tongshang)Haiwen&PartnersJingtian&GongchengJunHe LLPKing&Wood MallesonsZhong Lun Law FirmBand 2Fangda PartnersGlobal Law OfficeHan Kun Law OfficesJia Yuan Law Of
220、ficesTian Yuan Law FirmBand 3DeHeng Law OfficesGuantao Law FirmShihui PartnersLeading FirmsCapital MarketsHong Kong and Overseas IssuancesAlphabetical order within each band.Band 1 is highest.Band 1Grandall Law FirmBeijing Grandway Law OfficesKing&Wood MallesonsZhong Lun Law FirmBand 2Beijing Kangda
221、 Law FirmDeHeng Law OfficesGlobal Law OfficeJia Yuan Law OfficesJunHe LLPTian Yuan Law FirmBand 3AllBright Law OfficesFangda PartnersHaiwen&PartnersJingtian&GongchengLlinks Law OfficesBand 4CM Law FirmGuantao Law FirmLeading FirmsCapital Markets:Domestic Issuances资本市场:国内发行领先律所第一级别国浩律师事务所国枫律师事务所金杜律师事
222、务所中伦律师事务所第二级别康达律师事务所德恒律师事务所环球律师事务所嘉源律师事务所君合律师事务所天元律师事务所第三级别锦天城律师事务所方达律师事务所海问律师事务所竞天公诚律师事务所通力律师事务所第四级别上海澄明则正律师事务所观韬中茂律师事务所同等排名不分先后,均按英文字母顺序排名。资本市场香港地区及海外发行领先律所第一级别通商律师事务所海问律师事务所竞天公诚律师事务所君合律师事务所金杜律师事务所中伦律师事务所第二级别方达律师事务所环球律师事务所汉坤律师事务所嘉源律师事务所天元律师事务所第三级别德恒律师事务所观韬中茂律师事务所世辉律师事务所144China(PRC Firms)Capital M
223、arkets 资本市场 特殊的交易,之前没有别人用这样的方式处理过。他们向机关部门解释了为什么这样的结构不会以任何形式触犯法律。”另一位评论者强调方达的服务,补充道:“他们反馈非常迅速。提供全天候服务,经常在深夜也随叫随到,随时准备完成工作。”业务亮点 代表中国国际金融(CICC)处理中芯国际在上海证券交易所科创板的首次公开招股。领先律师Jeffrey Ding is famous for handling both do-mestic and overseas listings,and also serves on the firms management committee.“He is
224、the most outstanding lawyer in Fangda,”notes one admiring source,adding:“He is an excellent lawyer,especially in US capital markets work.”丁继栋律师以处理国内及海外上市业务而闻名,并担任该所管理委员会委员。“他是方达最出色的律师,”一位欣赏他的消息人士评价道,并补充:“他是一位杰出的律师,特别是在美国资本市场领域的工作。”Tang Qier is based in Shanghai and an active capital mar-kets lawyer.
225、She is well versed in a range of different types of securities issuances,and is sought after as lead counsel by both issuers and underwriters.She has notable skills tak-ing on cross-border mandates.唐奇儿律师常驻上海,是一位活跃的资本市场律师。她精通一系列不同类型的证券发行,受到发行人和承销商的青睐。她在处理跨境业务上有突出的能力。Kang Yan is based in Fangdas Beiji
226、ng office.He is a well-regarded figure whose expertise in A-share issuances earns the admiration of the market.康言律师常驻方达北京办公室。他是一位备受好评的人物,在A股发行方面的专业能力赢得了市场赞誉。Jiang Xueyan has a growing reputation in the market,special-ising in domestic securities issuances.She represents a number of financial institu
227、tions including Bank of China,China International Capital Corporation(CICC)and Credit Suisse Securities.Sources describe her as an“out-standing lawyer.”蒋雪雁律师在市场里声誉日益增长,专注于国内证券发行。她代表多家金融机构,包括中国银行、中国国际金融和瑞士信贷证券。市场消息人士形容称她为“杰出律师。”Global Law OfficeWhat the team is known for Global Law Office represents
228、clients in both domestic and inter-national securities offerings,including list-ings on the Hong Kong and Singapore stock exchanges,and is especially known for var-iable interest entity(VIE)structures and red chip-related work.Regularly sought out for advice on large-scale structured debt issu-ances
229、.Has also accumulated substantial expertise in acting on asset securitisation products in capital markets.Noted for its excellent cross-border capabilities and a pop-ular choice for novel transactions.Combines its expertise in different industries such as healthcare and electronics to enhance its ca
230、p-ital markets offering.Strengths Clients appreciate that“the team understands the needs of clients that come from a different legal environment and provides valu-able advice.”“They offer practical advice and solutions to our issues and questions good feasible solutions that are easy to operate on,”
231、adds another inter-viewee.Work highlights Mandated as PRC counsel by ZTO Express(Cayman)on its global offering of shares that included a Hong Kong public offering and an international offering.Notable practitioners业务优势 环球律师事务所代表客户处理国内和国际证券发行,包括在香港和新加坡证券交易所上市,其处理VIE结构和红筹相关的工作尤为出名。经常受委托处理大型结构性债务发行。处理资
232、本市场资产证券化产品方面也积累了大量经验。因其卓越的跨境能力而受到瞩目,是创新交易法律顾问的热门选择。结合在医疗保健、电子等不同行业的专业能力,提升其在资本市场的服务。团队强项 客户感激“该团队理解来自不同法律环境下的客户需求,提供有价值的法律意见。”“他们为我们的事务和问题提供实用的法律意见和解决方案,这些方案可行性高,易于执行,”另一位补充道。业务亮点 担任中通快递(开曼)的中国律师,处理其包括香港公开发行和国际发行在内的全球股票发行。领先律师Liu Jinrong(请参见第322页)is the managing partner of the firm and a venerable f
233、igure in the market,notably for capital markets trans-actions,private equity and M&A.He is adroit at handling cross-border transactions,includ-ing of late having advised Beijing Mediwel-come Medical Technology on its listing on the Hong Kong Stock Exchange.刘劲容(请参见第322页)律师是该所管理合伙人和市场上备受尊敬的人物,在资本市场交易、
234、私募股权及并购领域表现尤为突出。他精于处理跨境交易,在近期业务亮点中,他协助北京麦迪卫康健康医疗服务科技处理在香港联交所的上市事宜。Li Cheng(请参见第320页)is one of several heads of the firms capital markets offering.He has a broad transactional practice,and is also familiar with the details of corporate/M&A transac-tions and corporate restructuring projects.In a work
235、highlight,he assisted Fineland Real Estate Services Group with its transfer from the GEM board to the main board of the Hong Kong Stock Exchange.李琤(请参见第320页)律师是该所资本市场业务的负责人之一。他拥有广泛的交易业务,对公司并购交易及公司重组项目的细节也很熟悉。在近期业务亮点中,他协助方圆房地产服务集团从香港联交所创业板转移至主板。Liu Chengwei(请参见第322页)is a capable capital markets speci
236、alist who is also noted for his technical strength in this sphere.He possess-es extensive knowledge of a variety of equi-ty deal structures.A work highlight saw him assisting China Resources Microelectronics with its private placement on the STAR board of the Shanghai Stock Exchange.刘成伟(请参见第322页)律师是
237、一位颇具能力的资本市场专家,以其在此领域的技术实力而著称。他拥有各类股权交易结构的丰富知识。在业期业务亮中,他协助华润微电子在上海证券交易所科创板进行私募。Grandall Law FirmWhat the team is known for Grandall Law Firm remains a leading player in debt and equity markets matters,especially in relation to domestic listings.Also favoured as issuers counsel on large-scale bond iss
238、uances.A national practice that houses a strong bench of experienced capital markets practitioners,operating from bases in Shanghai and Beijing,as well as Hangzhou and Shenzhen.Regularly handles A-share IPOs and listings on the NEEQ exchange.Also offers advice on Hong Kong and Nasdaq listings.Also e
239、quipped to handle refinancing of listed companies and asset securitisation.Strengths Market sources recognise Grandalls strength in domestic issuances,reporting their“excellent lawyers”have“outstanding perfor-mance.”“In order to ensure project efficiency,the law-yers often complete drafting and revi
240、sing of the relevant documents during non-working hours.In addition,the team is willing to assist issuers and managers to complete some additional legal work,”appreciates one client.Work highlights Mandated by 3PEAK to handle its IPO on the STAR board of the Shanghai Stock Exchange.Notable practitio
241、ners业务优势 国浩律师事务所仍是债券和股权市场的领先律所,在与国内上市相关的事宜中表现尤为突出。在大型债券发行中受到发行人的青睐。作为全国性律所,拥有经验丰富的资本市场律师团队,从上海、北京、杭州和深圳的办公室提供服务。经常处理A股IPO和新三板上市事宜,也就香港和纳斯达克上市事务提供法律意见。同时具备处理上市公司再融资及资产证券化的能力。团队强项 市场评论认可该所在国内发行方面的强项,称他们的“杰出律师”提供了“出色的表现”。为了保证项目效率,律师们经常在非工作时间内完成相关文件的起草和审核。另外,团队也愿意协助发行人和经理人完成额外的法律工作,”一位客户称赞道。业务亮点 受思瑞浦微电子
242、科技委托,处理其在上海证券交易所科创板上市事宜。领先律师Liu Wei is the groups managing partner and famous for his expertise in corporate and financial law.He boasts an impressive track record in handling complex and high-value IPOs,including both A-share and H-share is-suances.In a key highlight,he assisted Glo-ry Star New Med
243、ia Group with its listing on Nasdaq.刘维律师是该所管理合伙人,并以其在公司和金融法领域的专业能力而闻名。他在处理A股和H股发行等复杂和高额IPO方面拥有令人印象深刻的履历。在业务亮点中,他协助耀世星辉新文娱在纳斯达克上市。Guan Jianjun is a senior figure in the firm who is well regarded for his expertise in transactional matters,most notably initial public offerings and corporate bond issuan
244、ces.Market observers cite him as a“popular”lawyer who focuses on domes-tic work.管建军律师是该所的资深人物,以在交易领域的专业能力而备受好评,在首次公开招股和公司债券发行方面表现尤为突出。市场评论称其为一位“热门”的律师,专注于国内工作。Beijing Grandway Law OfficesWhat the team is known for Grandway Law Offices is acknowledged for advising domestic clients on listings and pri
245、vate share issuances,and equally capable in dealing with major asset restructuring matters.Handles IPOs and public company issues on both the Shanghai and Shenzhen Stock Exchanges.Clients ben-efit from several members of the team having been involved in the drafting and revision of capital markets g
246、uidelines and regulations.Also well placed to assist clients with various bond issuances.Strengths One source says approvingly:“The Grandway Law Offices team of lawyers have solid knowledge and strong awareness of client service.The main strength of the team lies with its service process in IPOs and
247、 teamwork,as well Capital Markets 资本市场China(PRC Firms)as its ability to propose innovative solutions.”Another client agrees,adding:“The team is quick and has strong ability in solving and dealing with issues.”Work highlights Acted for Ligao Foods on its IPO on the GEM board of the Shenzhen Stock Exc
248、hange.Notable practitioners业务优势 国枫律师事务所凭借向国内客户提供有关上市和非公开股票发行的法律意见而受到认可。兼具处理重大资产重组业务的能力。处理在上海和深圳证券交易所和的IPO和上市公司事宜。客户受益于团队中数位成员参与资本市场准则及法规起草修订工作的经验。同时善于协助客户处理各种债券发行。团队强项 一位评论人士称赞道:“国枫的律师团队有扎实的知识和很强的客户服务意识。团队的主要强项在于IPO的服务过程和团队协作,以及提供创新解决方案的能力。”另一位客户表示同意并指出“该团队行动迅速,解决和处理问题的能力强。”业务亮点 代表立高食品处理其在深圳证券交易所创业板
249、上市事宜。领先律师Zhang Liguo(请参见第333页)is the chair of the firm and a highly regarded practitioner in the capital markets,who has a strong under-standing of the listing rules and procedures of the A-share market.Market sources often highlight his seniority and longstanding prac-tice.张利国(请参见第333页)律师担任该所主任,是资本
250、市场领域备受好评的律师,对A股市场的上市规则和流程拥有深刻理解。市场评论经常强调他的资历和执业悠久。Jiang Ruiming(请参见第319页),co-head of Grandways capital mar-kets department,is well versed in securities issuance projects,and is also familiar with corporate law and asset restructuring mat-ters.In a work highlight,he assisted Forest Packaging Group wi
251、th its listing on the main board of the Shanghai Stock Exchange.姜瑞明(请参见第319页)律师是国枫律师事务所资本市场业务的联席负责人,精通证券发行项目,对公司法及资产重组事宜也很熟悉。在近期业务亮点之一,他协助森林包装集团在上海证券交易所主板上市。Hu Qi(请参见第318页)specialises in equity issuances and is notably active on tech firm IPOs.One impressed client reports:“While proficient in capita
252、l market laws and regulations,she is highly sensitive to the rel-evant policies.She is also able to understand and analyse different industries business models and commercial interests.”胡琪(请参见第318页)律师专注于股权发行,在科技公司IPO领域的活跃度同样值得关注。一位对她印象深刻的客户评价道:“在精通资本市场法律法规的同时,她对相关政策也十分敏感。此外,她还能理解和分析不同行业的商业模式和商业利益。”Z
253、ang Xin(请参见第332页)continues to grow and develop his securities issuance practice,and is most active on A-share IPOs on the Shang-hai and Shenzhen Stock Exchanges.He gains approval from clients,with one saying:“He has a strong understanding of specific matters,and is able to provide practical solution
254、s.”臧欣(请参见第332页)律师继续发展其证券发行业务,在上交所和深交所的A股上市中最为活跃。他获得了客户好评,其中一位评价说:“他对于具体工作有很强的理解,能提供务实的解决方案。”Guantao Law FirmWhat the team is known for Guantao Law Firm represents clients from a wide variety of indus-tries such as finance,construction,metals,electronics,pharmaceuticals and transporta-tion.Takes on o
255、nshore and offshore transac-tions,with a focus on cross-border listings and bond issuances in Hong Kong and Singapore.Favoured as issuers counsel by a wide range of trading houses for bond and equity issu-ances.Has additional capabilities in handling mergers and asset restructurings on behalf of dom
256、estic clients.Also active on A-share listings on the Shanghai and Shenzhen Stock Exchange.Strengths“The Guantao team is professional with a clear division of responsibility and has an efficient communication system.They help us solve PRC legal issues with great patience,”says one client.Work highlig
257、hts Advised Kede Numerical Control on its IPO on the STAR board of the Shanghai Stock Exchange.Notable practitioners业务优势 观韬中茂律师事务所代表金融、建筑工程、金属工业、电子、医药和交通运输等各行业的客户。其代理在岸和离岸交易,并着重于在香港和新加坡的跨境上市和债券发行。在债券和股权发行中受到各类交易商青睐,担任发行人的法律顾问。在代表国内客户处理并购和资产重组方面也具备专业能力。同时活跃于上海和深圳证券交易所的A股上市事宜。团队强项“观韬中茂团队专业,分工明确,和有高效的沟
258、通体系。他们非常耐心地帮我们解决了中国法的相关问题,”一位客户回忆道。业务亮点 为科德数控在上海证券交易所科创板的首次公开募股提供法律服务。领先律师Cui Liguo has over two decades of experi-ence in capital markets matters,and is known for his domestic issuances practice.He also offers advice on H-share listings on the Hong Kong Stock Exchange.崔利国律师在资本市场事务方面拥有超过二十年的经验,以国内发行
259、业务著称。他也提供有关在香港联交所H股上市的法律意见。Haiwen&PartnersWhat the team is known for Haiwen&Partners is a well-established practice with consider-able experience in a variety of overseas trans-actions,including IPOs,bond issuances and debt offerings.Active in Hong Kong,Singapore and US-related capital markets manda
260、tes.Remains a counsel of choice for underwriter clients.Maintains offices in Shenzhen and Hong Kong to complement the firms presence in Shanghai and Beijing.Acts for an impres-sive array of national banks and investment groups.Favoured as legal counsel by issuers for undertaking backdoor listings.Gr
261、owing capacity to handle domestic equity and debt offerings.Strengths One client is impressed by Haiwens service,reporting:“It has best-in-class exper-tise in its respective fields.The lawyers work around the clock,giving prompt responses.They also have rich experience handling complex commercial an
262、d regulatory matters,offering practical and innovative solutions.”Another source appreciates the lawyers“handle matters flexibly”and are“able to sat-isfy clients needs.”Work highlights Haiwen&Partners acted for Kuaishou Technology on its IPO on the main board of the Hong Kong Stock Exchange,raising
263、over USD5.4 billion.Notable practitioners业务优势 海问律师事务所业务成熟,在IPO、债券和债务发行等各类海外交易领域拥有大量经验,。活跃于香港、新加坡和美国相关的资本市场业务。仍是承销商客户的首选法律顾问。在深圳和香港设有办公室,是对其上海和北京业务的重要补充。为众多知名国有银行和投资集团提供法律服务。是处理借壳上市中受发行人的青睐。处理国内股权及债券发行的能力日益增强。团队强项 一位客户对海问的服务印象深刻,评价道:“他们在自己的领域提供最上乘的服务。律师们全天候工作,提供迅速反馈。他们对复杂商业和合规问题也具备丰富经验,提供务实和创新的解决方案。”
264、另一位评论者称赞该团队律师“处理问题灵活”和“能够满足客户需求。”业务亮点 代表快手科技处理其在香港联交所主板的首次公开招股,募资超过54亿美元。领先律师Liu Su boasts a lengthy track record assist-ing issuers and underwriters on a wide range of capital markets transactions,including bond issuances and IPOs.His clientele in-cludes a number of notable names such as Orient Sec
265、urities Investment Banking and Chindata Group Holdings.He also serves as a member of the firms management commit-tee.刘速律师拥有协助发行人及承销商处理各种资本市场交易的长期履历,包括债券发行及IPO。他的客户包括东方证券、秦淮数据等众多知名机构。同时担任该所管理委员会委员。Gao Wei leads the department and is a prominent figure in the capital markets sphere,being noticeably ac
266、tive on backdoor listings and asset-backed note issuances.In addition to securities issu-ances,he is also sought after for his M&A expertise.One client highlights:“He has rich project experience and strong communication skills.”高巍律师是该部门负责人,也是资本市场领域的杰出人物,在借壳上市及资产支持票据发行方面表现尤为活跃。除证券发行外,他在并购领域的专业能力也受到青睐
267、。一位客户强调:“他有丰富的项目经验和很强的沟通能力。”Han Kun Law OfficesWhat the team is known for Han Kun Law Offices is reputed for its expertise in overseas and cross-border transactions,especially in relation to US listings at the New York Stock Exchange and on Nasdaq.A popular choice for domestic TMT companies as well
268、as under-writers.Active on IPOs on the Hong Kong Stock Exchange,drawing resources from its bases in both the mainland and Hong Kong.Additionally well versed in pre-IPO private equity,privatisation and red-chip matters.Favoured by both issuers and underwriters on bond issuances.Strengths“Han Kun is o
269、utstanding,”remarks one source,who goes on:“The team is handling a lot of complex work.The lawyers anticipate the questions that the authority would raise and answer those questions beforehand.They are doing well in time management.”One pleased client highlights Han Kun teams business acumen,reporti
270、ng:“The lawyers have good commercial awareness.The scope and standard required for due diligence and busi-ness negotiation are well grasped by the team with ease.”Work highlights Acted for Merrill Lynch Far East(MLFE),UBS and CLSA,as joint sponsors,146China(PRC Firms)Capital Markets 资本市场 on JDs seco
271、ndary listing on the main board of the Hong Kong Stock Exchange.Notable practitioners业务优势 汉坤律师事务所因其海外和跨境交易的专业能力而著称,特别是有关美股在纽约交易所和纳斯达克上市的交易。该团队是国内通讯媒体公司以及承销商的热门选择。利用在中国大陆和香港办公室的资源,活跃于处理香港证交所的IPO事宜。此外,精通处理上市前的私募股权、私有化和红筹等事宜。在债务发行中受到发行人和承销商的青睐。团队强项 一位消息人士指出“汉坤非常出色”,并补充道:“该团队处理大量的复杂工作。律师能够预判到机关部门将要提出的问题
272、,并事先回答这些问题。他们在时间管理方面做得很出色。”一位满意的客户特别强调汉坤团队的商业意识,评价道:“律师们有很好的商业意识,团队都能轻松把握好在尽职调查和商务谈判中要求的范围和标准。”业务亮点 代表作为联合保荐人的美林远东、瑞银和里昂证券,处理京东在香港联交所主板的二次上市。领先律师Chao Yijun(请参见第314页)is a seasoned lawyer and well recognised for his expertise in cross-border mandates,particularly in con-nection to listings on the New
273、York Stock Exchange,Nasdaq and the Hong Kong Stock Exchange.He is lauded for his skills in han-dling IPOs and equity acquisitions with a TMT focus.One client cites him as“a heavyweight lawyer”with“good client management skills.”晁毅军(请参见第314页)律师是一位经验丰富的律师,因处理跨境业务,特别是与纽约证券交易所、纳斯达克和香港联交所相关的业务能力受到高度认可。他凭
274、借处理以通讯媒体行业为重点的IPO及股权收购的能力受到赞誉。一位客户评价他为“有良好客户管理技巧”的“重量级律师。”Jia Yuan Law OfficesWhat the team is known for Jia Yuan Law Offices covers the full range of domestic and overseas transactions,including IPOs,non-public offer-ings and the restructuring of public compa-nies.Also adept at advising on a variet
275、y of debt products,including MTNs and convertible bond offerings.Predominantly acts for state-owned enterprise clients.Equally capable with regard to A-share and H-share issuances.Assists corporate clients in a wide variety of industries,including technology,mining and pharmaceuticals.Strengths Mark
276、et commentators affirm that“Jia Yuan has a large market share in repre-senting state-owned enterprises.”Work highlights Acted for Junshi Biosciences on its IPO on the STAR board of the Shanghai Stock Exchange.Notable practitioners业务优势 嘉源律师事务所涵盖全方位的境内和海外交易业务,包括首次公开募股、非公开发行股票和上市公司重组等。同时擅长处理中期票据和可转换债券等
277、各类债券产品。主要代表国有企业客户。在处理A股和H股发行方面兼具实力。协助科技、矿 业、医药等广泛行业的企业客户。团队强项 市场评论人士肯定“嘉源在代表国有企业的工作中占有很大市场份额。”业务亮点 代表君实生物在上海证券交易所科创板的首次公开募股。领先律师Yan Yu is a widely recognised and highly regarded figure in the field of equity issu-ances,and is also the founding partner of the firm.“Yan Yu is influential in the market
278、,handling large deals for SOEs,”one source reveals.颜羽律师是股权发行领域广受认可和高度好评的人物,也是该所创始合伙人。一位评论者透露:“颜羽律师在市场上很有影响力,为国企处理大型交易。”Zhang Wenco-leads Jia Yuans capital markets practice and handles a range of transactional matters,including A-share issuances,M&A and FDI mandates.He also stands out for his deft ha
279、ndling of red-chip transactions.张汶律师是嘉源资本市场业务联席负责人,处理A股发行、并购及外商直接投资等各类交易事务。他亦因其对红筹交易的灵巧处理能力而脱颖而出。Jingtian&GongchengWhat the team is known for Jingtian&Gong-cheng maintains its top spot in the Hong Kong and overseas issuance market table this year,standing out for its strength in equity and bonds iss
280、uances in the Hong Kong,Singapore and New York markets,especially in multi-currency bond matters.The firm is a popular choice in heavyweight capital markets deals.Also offers expertise in the domestic market,regularly assisting issuers and underwriters.Known for expertise advising on equity listings
281、,placings and trades.Has a deep understanding of the variable interest entity(VIE)structure,including the de-listing of VIE-structured com-panies from overseas markets.Lauded for its industry knowledge in education and health-care,facilitating the IPOs for many companies from those sectors.Also serv
282、es clients from hi-tech and internet industries.Strengths Many market sources single out the firm for its ability to handle cross-border man-dates.“Jingtian&Gongcheng,without doubt,has absolute advantage in Hong Kong and overseas capital markets work,”according to one interviewee,while another comme
283、ntator notes:“The lawyers are very capable in dealing with multi-jurisdictional matters.”Clients further say:“They are familiar with the companys business operations,therefore they can give more targeted advice.”Work highlights Acted for Nongfu Spring on its listing on the main board of the Hong Kon
284、g Stock Exchange,raising approximately HKD8.15 billion.Notable practitioners业务优势 竞天公诚律师事务所今年保持了在香港地区及海外发行榜单中的头等地位,其在香港、新加坡、纽约市场发行股权和债券的实力尤为突出,处理多币种债券的业务更是脱颖而出。该律所是处理重量级资本市场交易的热门选择。同时提供国内市场的专业能力,经常协助发行人和承销商。以在股票上市、配售和交易方面提供法律意见的专业能力而闻名。对于VIE结构,包括 VIE结构公司从海外退市,具备深刻理解。其在教育和医疗领域的行业知识受到赞誉,在这些领域中协助许多公司完成了
285、首单上市。还为高科技和互联网行业客户提供服务。团队强项 多位市场评论者强调该律所处理跨境业务的能力。“竞天公诚无疑在香港和海外资本市场工作中占据绝对优势,”一位受访者表示。另一位则评论道:“律师们具备出色的处理跨法域问题的能力。”客户进一步表示:“他们熟悉公司的业务运营,因此能给出更具针对性的法律意见。”业务亮点 代表农夫山泉处理其在香港联交所主板上市,筹集约81.5 亿港元。领先律师Bai Wei(请参见第314页)is a founding partner of the firm and a highly venerable figure in the capital markets sp
286、here.A work highlight saw him assisting Sany Heavy Equipment with its issuance of Super&Short Term Commer-cial Paper(SCP)on the Hong Kong Stock Exchange.白维(请参见第314页)律师是该所创始合伙人,也是资本市场领域受高度尊敬的人物。在近期业务亮中,他协助三一重型装备在香港联交所发行超短期融资券(SCP)。Gao Xiang(请参见第317页)continues to grow his fame in the market,being well
287、 known for overseas equity issuances.One impressed client says:“He knows how to stand from the clients per-spective to think about matters and issues,he solves clients pain points and is able to grasp the key issues quickly.When it comes to difficult issues,he gives very,very creative solutions.”高翔(
288、请参见第317页)律师的市场知名度不断提升,以海外股票发行而闻名。一位对他印象深刻的受访者称赞道:“他知道如何站在客户的角度思考事宜和问题,解决客户痛点,并且能迅速抓住问题要害。面临高难度问题时,他能给出极具创意的解决方案。”Liang Chunwei(请参见第321页)is an experienced capital markets lawyer who of late has been active on Hong Kong and Nasdaq listings.“He is an exceptional and very commercial partner with extensi
289、ve ex-perience and skills,”remarks one client.He is also well versed in FDI and general corpo-rate law matters.梁淳蔚(请参见第321页)律师是一位j经验丰富的资本市场律师,近期活跃于香港和纳斯达克上市。一位客户评价道:“他是一位非常出色,极具商业头脑,拥有广泛经验和技巧的合伙人。”他还精通外商直接投资和一般性公司法事宜。Wang Weiguo(请参见第328页)is an established presence in the market who is notably adept
290、at handling equity transac-tions,including A-share,B-share and H-share issuance.He also offers advice on bond is-suances and M&A matters.王卫国(请参见第328页)律师在市场中业务成熟,尤其擅长处理包括A股、B股 和H股发行在内的股权交易。他也就债券发行和并购事宜提供法律意见。Hu Zheng-zheng(请参见第318页)is an accomplished transactional lawyer who focuses on capital market
291、s and private equity matters.He has notable experience dealing with Hong Kong and Nasdaq-related mandates.He now heads Jingtian&Gongchengs Nanjing office.胡铮铮(请参见第318页)律师是一位业务成熟的交易律师,专注于资本市场及私募股权事宜。他对香港和纳斯达克相关的工作拥有突出经验。现担任竞天公诚南京分所的负责人。Ling Tezhi(请参见第321页)of Jingtian&Gongcheng Beijing office has a gro
292、wing reputation in the market.He spe-cialises in overseas bond and note issuances,but also handles H-share IPOs.Commenta-tors highlight his involvement in key capital market deals,including Nongfu Springs and Yum China Holdings IPOs on the main board of the Hong Kong Stock Exchange.凌特志(请参见第321页)律师来自
293、竞天公诚北京办公室,在业界声誉逐渐增长。他专注于海外债券和票据发行,同时还处理H股IPO。市场评论特别强调他参与的重大资本市场交易,包括农夫山泉和百胜中国在香港联交所主板的IPO。Ren Wei(请参见第325页)is an experienced securities law practitioner who is active in overseas listings.In a work highlight,he acted for underwriters in relation to Burning Rock Biotechs IPO on Nasdaq.任为(请参见第325页)律师是
294、一位经验丰富的证券法律师,活跃于海外上市。在近期业务亮点中,他代表承销商处理燃石医学在纳斯达克 Capital Markets 资本市场China(PRC Firms)上市。Zhang Zhiqiang(请参见第333页)is a leader of the firms domestic capital mar-kets practice and handles a range of debt and equity offerings.Market sources note that“he is very hard-working lawyer”who“has handled some sig
295、nificant deals.”He assisted Haidilao International Holdings with its bond issuance.章志强(请参见第333页)律师是该所国内资本市场业务的负责人,处理一系列债务和股权发行。市场评论认为“他是工作非常勤奋的律师”,“处理过一些重要交易”。近期,他协助海底捞国际控股处理了债券发行。JunHe LLPWhat the team is known for JunHe LLP is a prominent practice with a sizeable team of securities and corporate l
296、aw practitioners,a few of whom are former members of the CSRC Listing Review&Examination Committee.Best known for its expertise in a diverse range of Hong Kong,Singapore,London and US-re-lated offerings while attracting admirable levels of A-share listing work,with a particu-larly healthy roster of
297、domestic clients in the logistics sector and environmental industries.Increasingly counsel of choice for technology sector IPOs.Sought out by underwriters and issuers in respect of listings,bonds and pre-ferred shares matters.Clients also benefit from its offices in New York and Silicon Valley.Stren
298、gths“We find that the JunHe team are responsive to our queries on PRC law matters,and are also generally helpful and cooperative in assisting with the smooth execution of a trans-action,”says a client.Work highlights Acted for China Yangtze Power on its issuance of global depositary receipts(GDR)on
299、the London Stock Exchange.Notable practitioners业务优势 君合律师事务所的业务表现突出,拥有庞大的证券和公司法团队,其中多位曾担任中国证监会发行审核委员会委员。其在各类香港、新加坡、伦敦和美国相关发行的专业能力最为著名,同时吸引到了相当体量的A股上市业务,尤其在物流行业和环保产业拥有发展势头良好的客户群。越来越多地成为服务于科技领域IPO的律所之选。在上市、债券和优先股领域受到承销商和发行人的追捧。客户还受益于他们设在纽约和硅谷的办公室。团队强项“我们认为君合团队对我们在中国法律相关的问题反应迅速,对协助交易的顺利执行也很配合,”一位客户评论道。业
300、务亮点 代表中国长江电力在伦敦证券交易所发行全球存托凭证(GDR)。领先律师Shao Chunyang is a towering and venerable figure in capital markets,particularly known for his ECM work.He has considerable expe-rience advising on Shanghai,Hong Kong and New York-related offerings.He heads Jun-Hes Shanghai office.邵春阳律师是资本市场领域卓越和备受尊敬的人物,尤其以股权资本市
301、场的工作而闻名。他在与上海、香港、纽约相关的上市工作都具备十足的经验。他担任君合上海分所的负责人。Shi Tiejunhas a longstanding pres-ence and a well-deserved reputation when it comes to bond and equity issuances,special-ising in A-share listings.Commentators affirm that“Shi Tiejun is a very senior lawyer”who“handles some important deals.”石铁军律师执业资历深
302、厚,以债券及股权发行而享有当之无愧的声誉,专精于A股上市。市场评论人士证实“石铁军律师是一位非常资深的律师”,“处理过一些重要交易。”Wang Yi handles domestic and overseas listings as well as bond issuances.One client enthuses:“I would like to go to him if there are big deals.He can solve a lot of prob-lems.His communication with the authorities is good and he is a
303、ble to convince the regulators and finds breakthrough for the clients.When it comes to complex and cross-border work,he is very,very strong and well experienced.”王毅律师主要处理国内和海外上市及债券发行。一位客户热情评价道:“凡是遇到大项目,我都会找他。他能处理许多问题。他与相关部门的沟通很到位,能够说服监管者,为客户找到突破口。在复杂和跨境业务中,他的非常、非常强,而且经验非常丰富。”Yu Yongqiang is well reg
304、arded for his ability to handle complex issuance mandates.He continues to draw praise from clients,with one noting:“He is very responsive in particu-lar as he relates to last-minute enquiries and time-sensitive matter.He is able to give a real-istic assessment of market practice and summa-rise the l
305、egal risks for us to consider.”余永强律师因其处理复杂发行工作的能力而备受好评。他继续赢得客户称赞,其中一位评价道:“他反馈非常及时,特别是应对临时请求和时间紧迫的事情时更是如此。它能够给出对市场业务的真实评估,综合法律风险供我们考虑。”Li Chenliang oper-ates out of the firms Shanghai base and is regularly mandated on Hong Kong listings.He has notable skills acting for clients from the education and
306、healthcare sectors.李辰亮律师在该所上海办公室工作,经常受委托处理香港上市工作。他在代表教育和医疗健康领域客户的能力尤为突出。King&Wood MallesonsWhat the team is known for King&Wood Mallesons remains top of the market for domestic,Hong Kong and overseas issuances.Fields a deep bench with top-notch expertise across the securities arena,leveraging its gl
307、obal network to advise clients on complex onshore and offshore listings,refinancings and private equity financings.Particularly well versed in pre-IPO structuring.Its expertise is in high demand among issuers and underwriters,and also extends to exchangeable bond issu-ances for both state-owned and
308、privately owned clients.Strengths“King&Wood Mallesons provides very timely and practical feedback on all clients advice and needs,”one pleased client reports,adding:“The lawyers handle the documents meticulously,and no major errors have been found.”Another market observer singles out the firm for it
309、s bench depth,saying:“If a client needs 100 people on one large project,King&Wood Mallesons can easily mobilise its manpower.”Work highlights Advised Haier Smart Home on its asset restructuring and H-share listing on the main board of the Hong Kong Stock Exchange.Haier Smart Home is listed in Shangh
310、ai,Hong Kong and Frankfurt,adopting an A+D+H listing model.Notable practitioners业务优势 金杜律师事务所在国内、香港地区及海外发的行业务领域仍然保持领先位置。拥有深厚的团队阵容和证券领域一流的专业知识。充分利用其全球网络,为客户就复杂的境内和离岸上市、再融资以及私募股权融资提供法律意见。尤其精通前IPO结构设计。其专业知识备受发行人和承销商青睐。其专业知识还延伸到为国有企业和私营公司客户处理可交换债券发行。团队强项“金杜对所有客户的意见和需求都能提供非常及时和务实的反馈,”一位满意的客户评价道,补充说:“律师们处理
311、文件一丝不苟,从没出现过重大错误。”另一位市场观察者强调该所深厚的团队积累:“如果某个客户在一个大项目中需要100个人,金杜能轻松调配人手,满足需求。”业务亮点 为海尔智家的资产重组和在香港联交所主板H股上市提供法律意见。海尔智家采用“A+D+H”上市模式,在上海、香港和法兰克福上市。领先律师Wang Lixin is a very senior figure within the firm and the wider market,serving both on the management committee and also as the managing partner of the
312、Guangzhou office.He is widely recognised for his expertise in corporate and securities law.He acted for China International Capital Corporation on CASIRs issuance of convertible bonds.王立新律师是在该所以及更广泛市场中非常资深的人物,兼任管理委员会委员以及广州分所管理合伙人。他在公司和证券法领域的专业能力广受认可。他代表中金公司处理CASIR可转换债券的发行。Zhang Yongliang is a recogn
313、ised expert in capital markets transactions and is also noted for his expertise in corporate restructuring.The Beijing-based partner is equipped to ad-vise on domestic and overseas mandates.张永良律师是资本市场交易领域公认的专家,并以其公司重组的专业能力受到关注。这位常驻北京的律师同时具备处理国内和海外工作的能力。Tang Lizi is one of the leading figures in the
314、mar-ket,with three decades of experience han-dling big-ticket IPOs.She wins a lot of praise from market observers.“Tang Lizi is the best in terms of technicality among the top-tier law-yers,”says one admiring source,while an-other notes:“She is a respected and very ex-perienced lawyer.”唐丽子律师是业界领先人物之
315、一,在处理大型IPO方面拥有三十年的经验。“唐丽子律师是顶级律师中技术实力最强的,”一位欣赏她的受访者说。另一位则表示:“她是一位备受尊敬和经验丰富的律师。”Gong Mulong is a well-known expert on financial services law who handles both equity issuances and private equity financings.He has consider-able experience advising on domestic and cross-border mandates,acting for both i
316、ssu-ers and underwriters.“His case management and handling of complex questions are very good,”according to one interviewee.龚牧龙律师是著名的金融服务法律专家,处理股权发行和私募股权融资。他拥有代表发行人和承销商处理国内及跨境业务的丰富经验。一位欣赏他的受访者强调:“他对工作的管理能力和处理复杂问题的能力非常好。”Su Zheng is a Beijing-based secu-rities law expert.Market sources highlight her
317、involvement in large capital markets trans-actions,with one describing her as an“im-pressive lawyer”who is“very experienced and capable in overseas listings.”She assisted Baidu with its secondary listing on the main board of the Hong Kong Stock Exchange.苏峥律师是常驻北京的证券法律专家。市场评论强调她对大型资本市场交易的参与,其中一位形容她为“
318、令人印象深刻的律师”,“对海外上市非常有经验和有能力。”她协助百度处理了在香港联交所的第二次上市。Zhou Ningis adept at han-dling both A-shares and debt issuances,and is seen advising Capitalonline Data Service on its IPO on the Shenzhen Stock Exchange.“Zhou Ning is a quite senior and experienced 148China(PRC Firms)Capital Markets 资本市场 lawyer,”acco
319、rding to one market observer.周宁律师擅长处理A股和债券发行,处理了首都在线科技在深圳证券交易所的IPO。据一位市场观察者评价:“周宁律师是一位十分资深和有经验的律师。”Zhou Rui is a capital markets specialist based in the firms Shenzhen office and is well versed in handling IPOs on the Shenzhen Stock Exchange.Sources say that“Zhou Rui is good in handling GEM board ma
320、tters.”周蕊律师是位于该所深圳分所的资本市场专家,精通处理深圳证券交易所的IPO工作。受访者透露“周蕊律师擅长处理创业板的事宜。”Llinks Law OfficesWhat the team is known for Llinks Law Offices offers experience in acting on acquisitions of listed companies,private equity matters,domestic IPOs and restructurings.Advises on a wide range of debt and equity issua
321、nces in the domestic market.Works with clients from a variety of industries ranging from chemicals and pharmaceuticals to electronics and home appliances.Noted for its expertise in handling corporate and convertible bond issuances.Strengths One source describe the Llinks team as“trustworthy partners
322、,”reporting:“The team has vast practical experience,delivering high-quality work.The lawyers are fully concerned about the interests of the clients,and are always doing their best.”Work highlights Assisted Shanghai Yongmaotai Automotive Technology in its IPO on the main board of the Shanghai Stock E
323、xchange.Notable practitioners业务优势 通力律师事务所在处理上市公司收购、私募股权、国内IPO和重组方面具有经验。在国内市场就种类广泛的债券和股票发行事宜提供法律意见。与来自化学品、制药、电子产品、家电等各个行业的客户保持合作。其处理公司及可转换债券发行方面的专业能力尤为突出。团队强项 一位消息人士形容通力团队为“值得信赖的合作伙伴,”并指出:“该团队拥有大量业务实践经验,提供高质量工作。律师们非常关注客户利益,对工作一支追求尽善尽美。”业务亮点 协助上海永茂泰汽车科技处理在上海证券交易所主板的首次公开募股。领先律师Christophe Han(请参见第318页)i
324、s the firms director based in Shanghai and a fa-mous name in the market with a longstanding reputation.Although principally focused on securities,he is also noted for his expertise in M&A and investment funds.韩炯(请参见第318页)律师是该所常驻上海的负责人,亦是市场上久负盛名的的著名人物。虽然主要专注证券业务,但他在并购和投资基金方面的专业能力也受到瞩目。Wayne Chen(请参见第
325、315页)remains a well-recognised figure in the market,spe-cialising in A-share issuances.He ably advises on STAR board and NEEQ board listings.His broad practice also covers private equity and corporate/M&A transactions.陈巍(请参见第315页)律师仍是市场上广受认可的人物,专注A股发行工作。他擅长处理科创板和新三板上市事宜。他的广泛业务还覆盖私募股权以及公司并购交易。Shihui
326、PartnersWhat the team is known for Shihui Partners stands out for its impressive expertise rep-resenting high-value clients in cross-border listings as well as related financings and restructurings.Also adept in equity trans-actions including acquisitions and spin-off matters.Client roster features
327、major Chinese technology and life sciences companies.Strengths One client lauds that“they have good experience serving large clients in A-share and Hong Kong capital market matters.They are quite good in general.”Another client reports:“Shihui can provide a one-stop legal service.They are fully coor
328、di-nated internally.Every suggestion given to us is verified by experts in different fields,so as to ensure that we lay a good foundation for listing and other work in the private equity stage.”Work highlights Assisted the Chinese online retailer JD.com with its listing on the Hong Kong Stock Exchan
329、ge.Notable practitioners业务优势 世辉律师事务所凭借其代表高价值客户处理跨境上市及相关融资、重组事宜令人印象深刻的专业能力脱颖而出。其亦对收购、分拆等股权交易业务也十分精通。客户群包括科技和生命科学领域的大型中国公司。团队强项 一位客户称赞说“他们有服务大型客户处理A股和香港资本市场的良好经验。整体表现都很不错。”另一位客户评价道:“世辉能提供一站式的法律服务。他们内部的协作非常顺畅。为我们提供的每一条建议都经过了不同领域专家的核准,以此确保为我们上市和私募股权阶段的其他工作打下良好基础。”业务亮点 协助中国网上零售商京东在香港联交所上市。领先律师Zhang Jian(
330、请参见第333页)is deemed“quite professional”and“very familiar with Hong Kong IPO matters”by a client.He attracts attention for his noted experience acting for major clients in listings.The client above also highlights his“full services and offering”as he“not only advises on A-share work”but also handles“w
331、orld-facing work.”张健(请参见第333页)律师被一位客户视为“十分专业”和“对香港首次公开募股事宜非常熟悉。”他代表大型客户处理上市的突出经验受到瞩目。该客户还特别指出他“提供全面服务”,他“不仅就A股提供法律意见”,也处理“面向世界的工作。”Tian Yuan Law FirmWhat the team is known for Tian Yuan Law Firm houses a sizeable securities team and consist-ently attracts work from SOE clients in relation to the ful
332、l spectrum of capital markets trans-actions.Demonstrates a market-leading track record in handling domestic issuances and is active in relation to red-chip spin-off and IPO matters.Able to assist with complex equity offerings and alternative listing mechanisms.Also advises on private equity matters.
333、Boasts a strong offering on H-shares and overseas issuances thanks to a capable bench of capital markets specialists operating out of its Hong Kong office.Strengths Market observers highlight Tian Yuan as a“well-respected law firm”that fields a group of“well-experienced”lawyers.“The Tian Yuan lawyers always care for the clients needs and give tailored service and advice,”says a pleased client.Work