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Wilson Sonsini hires capital markets partner in Hong Kong

Wilson Sonsini hires Jennifer Liu as a China partner at its Hong Kong office

Fangda, MoFo steer USD900m Boomray-Novartis licence agreement

Boomray Pharmaceuticals enters into an exclusive global licence agreement valued at up to USD900 million with Novartis for a preclinical radioligand therapy

Compliance for exports of dual-use items to Japan

By Chen Ziyuan and Xu Mengqi, Anli Partners

China’s tighter watch list regime for Japan-bound dual-use trade is forcing Chinese suppliers to upgrade screening and licensing.

Firms assist optical transceiver maker Ligent’s HKD5.67bn IPO

Leading optical transceiver maker Ligent Technologies lists on the HKEX main board on 22 September, raising HKD5.67 billion (USD723 million)

Jingtian & Gongcheng hires three King & Wood partners

Jingtian & Gongcheng hires Lai Jianglin and her team members Hu Yizhou and Guo Zhongyong as partners for its Guangzhou office

GSK to acquire Chimagen asset in deal worth up to USD750m

Pharmaceutical giant GSK enters into an asset purchase agreement with Chimagen Biosciences valued at up to USD750 million

Z.AI raises HKD39.3bn in share placement, convertible bonds

Z.AI completes a placement of new H shares and an offering of renminbi-denominated, US dollar-settled zero-coupon convertible bonds, raising a combined HKD39.3 billion

Who owns AI’s judgment?

Veteran general counsel and scientist discuss a new AI governance paradigm

Innovation shifts gears

The innovation engine is shifting gear. Whoever recalibrates the timing will lead through the next bend

Appleby receives private equity investment from New Mountain Capital

New Mountain Capital makes a significant minority investment in Appleby to boost growth strategy

China Commercial opens Laos, Indonesia and Xinjiang offices 

Shenzhen-headquartered China Commercial Law Firm opens offices in Vientiane in Laos, Jakarta in Indonesia and Hotan in Xinjiang. 

Shihui recruits former Xiaomi antitrust compliance head 

Shihui Partners hires antitrust and data compliance specialist Wang Zhining as a partner in Shenzhen 

Commerce & Finance opens Xi’an office in northwest expansion

Commerce & Finance Law Offices opens an office in Xi’an, becoming the firm’s 13th branch globally

Norton Rose Fulbright adds corporate partner in Shanghai

Norton Rose Fulbright hires Han Lijie as a partner at its Shanghai office

Jingtian & Gongcheng recruits three partners in two cities

Jingtian & Gongcheng recruits three partners, with Liu Hongchuan and Chen Huan joining its Beijing office and Gu Mingzhu in Shenzhen

Zhejiang’s first Chinese mainland-Hong Kong-Macau joint law firm opens

Zhejiang province’s first Chinese mainland-Hong Kong-Macau joint law firm begins operations in Hangzhou

Zhong Lun, DeHeng assist Enflame’s RMB6.12bn Star Market IPO

Chinese AI chipmaker Enflame Technology debuts on the SSE Star Market on 11 September, raising around RMB6.12 billion

Han Kun adds dispute resolution partner in Shanghai

Han Kun Law Offices recruits Chu Weishu as a partner at its Shanghai office, strengthening its dispute resolution practice

Kangda, AllBright act on Luoyang Bearing’s RMB2bn ChiNext IPO

Chinese bearing manufacturer Luoyang Bearing Group debuts on the SZSE ChiNext board on 9 September, raising around RMB1.97 billion (USD293.5 million).

Navigating cross-border financial data compliance and overseas regulatory conflicts

By Wang Chufan, Tahota Law Firm

One foot in Chinese data protection law, the other in foreign discovery requests. Banks need a strategy that doesn’t sacrifice either – here’s how to start

Where equitable subordination applies to shareholder loans

By Pan Dingchun and Liu Xianglan, Ronly & Tenwen Partners

When shareholder loans mask undercapitalisation, Chinese courts apply equitable subordination in bankruptcy to protect ordinary creditors from severe abuse

Proving core product eligibility for chapter 18A listing

Chapter 18A is an enticing listing prospect for biotech firms in China, but they must first prove that their golden product is genuine and truly their own

Memory products maker Longsys in landmark HKD7.08bn IPO

Leading independent memory products maker Longsys Electronics debuts on the HKEX on 8 September, raising around HKD7.08 billion.

Creditor claims for accelerating shareholder contributions

By Yi Xiangming and He Lingyu , Zhong Lun Law Firm

The new Company Law empowers creditors to accelerate shareholder capital calls, but judicial tests vary

GF Law, DeHeng steer TEMB’s RMB1.88bn Shanghai debut

TEMB Intelligent Technology raises RMB1.88 billion from its listing on the SSE’s main board on 7 September.

Japan’s NYK Line completes 50% acquisition of Avenir LNG

Nippon Yusen Kabushiki Kaisha (NYK) successfully completes the acquisition of 50% in Avenir LNG for an undisclosed amount.

Guantao opens in Bishkek, links four Central Asian offices

Beijing-headquartered Guantao Law Firm opens an office in Bishkek, Kyrgyzstan

Fair adjustments to shareholder interests in reorganisations

By Wang Zhenxiang, Jingtian & Gongcheng

Out-of-court debt restructuring centers are growing in China, linking workouts with pre-reorganisation for lenders and distressed investors

Addressing non-performing personal loans

By Chen Yanhong, DHH Law Firm

China’s expanding consumer credit market has brought mortgages and personal lending into the financial mainstream

Sunwell recruits two senior partners from Hiways in Shanghai

Shanghai-based boutique Sunwell Law Firm hires Wang Jin and Zhang Tao, both joining from Hiways, as senior partners

Hong Kong’s Northern Metropolis and the 15th Five-Year Plan

By Rossana Chu, YYC Legal

Everyday Hong Kong’s Northern Metropolis ambitions edge closer to reality. How should interested businesses prepare legally?

Former Deloitte China vice chair joins Merits & Tree in HK

Merits & Tree recruited Patrick Yip, former vice chair of Deloitte China, as co-head of the firm’s global private wealth practice

Guantao adds dispute resolution, M&A partners in Hong Kong

Guantao Law Firm hires Ronald Sum and Julianne Doe as partners at its Hong Kong office

‘All risks’ claims: A manufacturer’s defence playbook

By Cheng Xue and Yang Bo, Anli Partners

So-called “all risks” property insurance carries defined exclusions

Turning point

Senior practitioners break down key state asset law revisions, evaluating emerging legal risks in state-owned enterprise restructuring and asset transactions

Shein’s HKD13.6bn HKEX debut is largest HK e-commerce IPO

Fast-fashion giant Shein’s HKEX listing on 1 September raises HKD13.6 billion in the largest cross-border e-commerce IPO in Hong Kong to date

HFW adds technology dispute partner Jennifer Wu in Hong Kong

Holman Fenwick Willan recruits Jennifer Wu, former Asia Pacific head of TMT at Pinsent Masons, as a partner in Hong Kong

Baker McKenzie adds Hong Kong dispute resolution partner

Baker McKenzie bolsters its dispute resolution practice in Hong Kong with the addition of Justin Tang as a partner.

XPeng raises USD900m in robotics financing for Dogotix unit

XPeng signs equity financing agreements with several investors for its humanoid robotics business, raising more than USD900 million

China Commercial opens Sacramento office in California

China Commercial Law Firm receives approval to open an office in Sacramento

Alibaba’s HKD80bn new share placement is largest in HK

Alibaba completes an HKD80 billion new share placement, marking the largest placing to date in Hong Kong stock market history

Firms steer State Grid’s record USD2.22bn dim sum bonds

State Grid completes a landmark RMB14.9 billion (USD2.22 billion) issuance of dim sum bonds in Hong Kong

Sidley Austin adds life sciences partner in New York

Sidley Austin has recently added Lin Jiqiang as a partner in its New York office, further strengthening the firm’s life sciences practice

Former senior partner joins Hozu Capital as co-founder, COO

Third-party funding institution Hozu Capital appoints Cindy Huang as co-founder and chief operating officer

Jingtian & Gongcheng adds partners in three Chinese cities

Jingtian & Gongcheng hires Liao Jun, Cheng Keni and Gu Peitao as partners in its Chongqing, Guangzhou and Shanghai offices, respectively

Shanghai Electric in world’s first corporate FTZ offshore bonds

Shanghai Electric issues world’s first corporate free-trade zone offshore bonds

Niche memory-chip leader Ingenic in HKD3.1bn Hong Kong debut

Chinese niche memory-chip leader Ingenic Semiconductor debuts on the HKEX on 25 August, raising around USD399 million

Fangda, Haiwen advise on Alibaba’s USD1.5bn Lingxi Games sale

Alibaba sells its entire stake in gaming studio Lingxi Games to Trustar Capital for more than USD1.5 billion

CICC eyes USD16.9bn merger with Dongxing, Cinda Securities

CICC’s plans to merge with Dongxing Securities and Cinda Securities through share swaps will make it the largest M&A transaction in China’s A-share securities sector.

Merits & Tree hires dispute partners in Shanghai and Beijing

Merits & Tree Law Offices hires Xue Yizhong and Zhang Jinhui as partners at its Shanghai and Beijing offices, respectively

Grandway brings in partners for Suzhou and Shanghai offices

Grandway Law Offices hires Xu Wei, Zhu Ting and Yang Yu as partners, strengthening its capital markets and intellectual property practices

Fangda adds compliance partner in Shanghai

Fangda Partners adds Zhang Shihai as a partner at its Shanghai office

Chance Bridge hires former Douyin litigation head in Beijing

Chance Bridge Law Firm hires Li Ying as a senior consultant at its Beijing headquarters

DeHeng and JunZeJun steer Unitree’s USD906m Star Market debut

Unitree becomes the first humanoid robotics company tolist on the A-share market

Firms guide on 20-year renewal of SAIC-GM joint venture

SAIC Motor and General Motors sign a renewal agreement, extending the term of their joint venture, SAIC-GM, by 20 years to 2047

Former Microsoft legal and strategic head joins HK’s Redotpay

Li Chen, former Microsoft strategic partnership head for Greater China, Asean, Japan and South Korea, joins RedotPay as general counsel

Tianyu Bio’s former vice president joins Hui Ye as counsel

Yang Jingjing, SSE-listed Tianyu Bio Technology’s former vice president, joins Hui Ye as counsel in Shanghai

Han Kun officially opens Hangzhou office, cements presence

The Han Kun Hangzhou office held its opening ceremony on 10 August and is formally based at the International Financial Center

China revises insider trading rules, moves scrutiny earlier

China’s first revision since 2012 of insider trading rules that took effect on 27 July 2026 signal continued tightening of regulatory enforcement, say lawyers

Green: Seen it or mean it?

General counsel and lawyers navigate phased-in ESG reporting

Sundial, Zhong Lun assist on JLC’s RMB4.69bn Shenzhen IPO

Electronic industry services provider JLC Technology lists on the SZSE main board on 4 August, raising around RMB4.69 billion (USD 695 million)

Choosing ideal lawyers

How can companies identify the right lawyer? A China Business Law Journal survey reveals what factors are truly driving the choices of general counsel

Grandall adds asset management and finance partners

Grandall Law Firm recruits Xie Zhensheng and Cui Bo as equity partners at its Guangzhou and Xi’an offices, respectively

Going ‘AI-native’

Veteran counsel, tech CEO unpack ‘AI-native’ legal adoption

Indonesia issues first RMB7bn sovereign panda bonds in China

Indonesia issues its first sovereign panda bonds in China, raising RMB7 billion (USD1.04 billion) in the largest single such issuance to date

Zhongji Innolight listing is largest Hong Kong IPO since 2019

Zhongji Innolight’s HKD53.41 billion HKEX debut makes it the largest Hong Kong IPO since 2019

State-funded companies and corporate governance

This column has previously discussed China’s state-owned enterprises (SOEs), see China Business Law Journal, volume 8, issue 4: SOEs

Joint-Win expands national footprint with new Kunming office

Joint Win Partners’ new office in Kunming, Yunnan province, marks its 15th domestic branch

Look-through supervision and compliance of shareholders & controllers

By Xiang Fei, Tahota Law Firm

With the regulatory shift from form to substance, some of the old ways of allocating liability may soon be gone

Nominee shareholding: Transferring shares not yet due

By Jiang Xuan and Wang Zhongyu, Zhong Lun Law Firm

The recent overhaul of the capital subscription regime has brought new complexities

Beauty giant Proya grows controlling stake in Flower Knows

Chinese beauty giant Proya’s latest RMB351 million investment to acquire 12.55% in Flower Knows secures 51% controlling stake in cosmetics brand

Shihui adds AI sector and tech firm global expansion partner

Shihui Partners recruits Shirley Zhao as a partner based in Shenzhen to better serve AI technology companies

Lawyers analyse China’s drug trial data protection rules

China’s new drug trial data protection rules are considered a boost for development, but some lawyers warn disputes may arise

Commercial technology partner Li Laixiang rejoins Han Kun

Han Kun welcomes the return of Li Laixiang in Shenzhen, strengthening its commercial transaction capabilities in technology

Debt restructuring centres in legal practice

By Wang Zhenxiang, Jingtian & Gongcheng

Out-of-court debt restructuring centers are growing in China, linking workouts with pre-reorganisation for lenders and distressed investors.

DHH opens Mexico offices to strengthen American network

DHH Law Firm opens in Mexico, expanding its cross-border legal services network across North and Latin America

CXMT’s RMB57.9bn debut is largest A-share IPO of 2026

CXMT debuts on the SSE Star Market on 27 July, the largest A-share IPO of 2026, raising RMB57.92 billion (USD8.6 billion)

Navigating legal risks for tech startups

By Huang Jun, Ronly & Tenwen Partners

Fast growing tech innovators typically navigate complex funding deals, equity incentives and collaboration agreements

Golden Wheel in first creditor-led offshore debt restructuring

Chinese mainland property developer Golden Wheel Tiandi completes a USD507 million offshore debt restructuring

Navigating criminal risks in supply chain finance

By Shen Xinyu, Starrise Law Firm

Circular transactions with documents and bills but no actual goods can turn civil disputes into criminal cases

Commerce & Finance opens in Guangzhou extending GBA reach

Commerce & Finance Law Offices opens its Guangzhou office on 22 July, strengthening services across the Greater Bay Area

IP protection in traditional opera lineage

By Jiang Shen and Zhao Yao, Jingtian & Gongcheng

As traditional opera gains wider audiences, questions arise over where to draw the line between shared heritage and protectable creation. Lawyers weigh in on the boundary

Compliance boundaries on AI-generated product testimonials

By Ethan Zhang, Joint-Win Partners

AI-faked user reviews risk contextualised inducement-based unfair competition

Addressing financial disputes in ADR mechanisms

By Chen Yanhong, DHH Law Firm

Lengthy litigation and enforcement hurdles? ADR offers flexible, efficient remedies for financial conflicts

Proving an employee’s eligibility for non-compete obligations

By Liu Tao and Zhang Miaoxin, Anli Partners

Non-compete agreements serve as a key legal tool for employers to protect trade secrets

Firms map MiniMax’s HKD16bn share and bond fundraising

Davis Polk and Commerce & Finance advise on MiniMax’s share placement and convertible bond issuance

Former AstraZeneca associate legal director joins Han Kun

Han Kun appoints former AstraZeneca associate legal director Wang Rongxia as patent counsel in its Beijing office

Key takeaways from China’s new Ecological and Environmental Code

By Audrey Tao and Shen Haixiang, Hylands Law Firm

China’s Ecological Environment Code unifies pollution, ecology, decarbonisation and liability, raising corporate compliance standards

Environmental compliance frameworks for renewable businesses

By Li Zhiheng, Kangda Law Firm

As dual-carbon objectives are escalated to statutory obligations, renewables companies face a major compliance test across pollution control, ecological protection and low-carbon development

Jingtian & Gongcheng welcomes four partners at three offices

Jingtian & Gongcheng hires four partners — Che Li, Duan Wei, Pang Jianli and Tang Hua — across its Ningbo, Chongqing and Chengdu offices

Sidley steers Sino Biopharm, AstraZeneca licence agreement

Sidley Austin advises Sino Biopharmaceutical on an exclusive licence agreement between its subsidiary and AstraZeneca

Han Kun onboards shipping partner for Shanghai office

Han Kun Law Offices recruits Cherry Jin as a partner at its Shanghai office, strengthening its cross-border asset finance and shipping practice

Firms steer top wafer foundry Nexchip’s HKD6.98bn listing

Leading wafer foundry Nexchip Semiconductor lists on the HKEX main board on 10 July, raising around HKD6.98 billion (USD890 million)

Firms assist on Three-Circle’s HKD7.16bn debut in Hong Kong

Three-Circle Group debuts on the HKEX on 9 July, raising around HKD7.16 billion (USD913 million)

Firms advise on PCB drill-bit leader Dtech’s HKD4.8bn IPO

Printed-circuit board drill-bit manufacturer Dtech Technology raises HKD4.8 billion (USD612 million) in its HKEX debut on 9 July, three years after its SZSE listing

Luxshare raises HKD24.27bn in Hong Kong’s largest IPO

Chinese leading manufacturing company Luxshare Precision raises about HKD24.27 billion (USD3.09 billion) in Hong Kong’s largest IPO to date this year

Davis Polk, Fangda act on Biren’s HKD7.1bn H-share placement

Chinese graphics processing unit developer Biren Technology raises around HKD7.1 billion after an H-share placement on the HKEX on 8 July

Firms steer autonomous driving company Momenta’s HKD5.89bn IPO

Chinese autonomous driving company Momenta debuts on the HKEX on 8 July, raising HKD5.89 billion (USD751 million)

EACON is world’s first listed autonomous mining vehicle company

China’s EACON Group becomes the world’s first listed autonomous mining vehicle company after its HKEX debut on 8 July, raising HKD3 billion

Merits & Tree names four equity partners in Beijing, Qingdao

Merits & Tree Law Offices appoints Roy Rong, Susan Li, Carys Li and Hu Tianxiong as equity partners at its Beijing and Qingdao offices

Global Law recruits four partners in disputes and investment

Global Law Office recruits four partners and their teams to strengthen its capabilities in dispute resolution and investment

Firms advise on Anker Innovations’ HKD4.6bn HKEX debut

来自中国内地、香港、日本、阿联酋和美国共十家律所为此次上市提供法律服务

Cooley, Dua advise Lingyi iTech on HKD8.26bn Hong Kong IPO

Cooley and Dua Associates have guided Apple supplier Lingyi iTech on its HKD8.26 billion (USD1.06 billion) initial public offering in Hong Kong

China Resources New Energy in RMB21.3bn record SZSE debut

King & Wood, Haiwen & Partners and Clifford Chance act on China Resources New Energy’s record breaking RMB21.3 billion IPO on the SZSE

Former Yingke senior partner and IP team of 10 join Riying

Chen Chen, former senior partner at Yingke’s Shanghai office, joins Riying at its Shanghai headquarters along with his team

MMG raises USD1.6bn in share placement and bond offering

China Minmetals Corporation’s subsidiary MMG raises USD1.6 billion from a share placement and bond issuance

Cryptocurrencies and property

The column discusses the position in common law jurisdictions, including Australia and the UK, and then provides a brief outline of the legal position in the Chinese mainland

Bundled and binding

Ecological and Environmental Code reshapes corporate lifecycle compliance

Han Kun hires data compliance specialist in Shanghai

Han Kun Law Offices hires Chen Wenhao as a partner at its Shanghai office, bolstering its data compliance and AI capabilities

How can minority shareholders seek relief from profit hoarding?

By Jiang Xuan and Yang Yue, Zhong Lun Law Firm

When a company hoards profits, minority shareholders can seek compulsory distribution or force a share buyout

Dissecting invalidity of financial loan agreements

By Chen Yanhong, DHH Law Firm

A financial loan agreement is the core legal instrument governing lending between banks, licensed financial institutions and market participants

China Commercial secures approval to open Singapore branch

China Commercial Law Firm has received approval to establish a Singapore office as its 20th overseas branch, further expanding its global legal services network

Unwinding red-chip structures

By Vincent Shen, Commerce & Finance Law Offices

This practical guide covers tax exposure, distinct exit paths for VIE and direct equity structures, and five regulatory red flags that determine IPO success.

No flaws allowed

Capital markets lower entry threshold but ramp up accountability

Firms act on USD2.5bn US-Korean AI-driven drug discovery pact

Firms assists on US-South Korea AI driven drug discovery collaboration between Insilico Medicine and SK Biopharmaceuticals

‘Companies face pain’ as China’s new PE rules tighten oversight

China’s issues new guiding opinions to tighten regulatory oversight on the private equity industry and companies face “growing pains”

Indonesia’s Dentons HPRP launches China desk to back growth

Dentons HPRP, the global law firm’s Indonesian arm, establishes a China desk to support business opportunities

Exchanging roles

Exchanging roles

Paul Chow shares his views on shaping HKEX legal strategy, sustainability leadership and responsible AI use in markets

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