M&A partner Pablo Cubel will manage the new office which will have a mix of Chinese and European lawyers. Commenting on the move, senior partner Rafael Fontana said that 'given the good operation of the Shanghai office under Omar Puertas and the business perspectives in China, we feel confident about starting our adventure in Beijing and expanding our Corporate and Commercial Practice. By opening this office, we are meeting our objective to continue growing and become a benchmark Ibero-American business law firm, as established in our strategic plan.'
Following its recent slowdown, China, the second leading world economy after the US, has taken steps to stabilise growth by increasing national consumption and state and private investment in different markets and sectors, particularly focusing on the US, Europe and LATAM. The recent Mergermarket's report identified Southern Europe as a preferred target investment area - receiving almost 30 per cent per cent of China's investment in Europe.
China - Spain investment
In Spain alone, the Asian giant invested over $2 billion between 2010 and 2015, an upward trend with a strong focus on the real estate sector, logistics, industrial machinery and consumer goods. Other business opportunities are the infrastructure projects under the “One Belt One Road” project; investment in technology, particularly in the cleantech, biotech and agribusiness sectors; R&D projects; and the projects to exploit natural resources.
The firm said in a statement that the opening of the new office confirmed its commitment to international expansion. In the last year, Cuatrecasas has opened an office in Mexico City and signed an alliance with leading law firm Posse Herrera Ruiz to operate in Colombia. It also renewed the management of its strategic New York and London offices, specifically its finance practice.