Baker & McKenzie is planning to enter the Shanghai free trade zone Fuyu liu
Shanghai law firm AllBright, one of China's top five domestic law firms, has signed a major co-operation agreement with Bird & Bird. The agreement will see the Chinese law firm, which has 416 partners across seven offices and revenues of over £200m, share an office in London with support for Chinese clients expanding internationally. It is the firm's first international office. The agreement will strengthen Bird & Bird's Asia-Pacific strategy, which has seen the firm launch in five Asia Pacific cities and enter into five co-op agreements with local firms in Indonesia and South Korea. Bird & Bird has also advised on a number of China outbound transactions in the past 18 months, including Fosun Group's acquisition of Wolverhampton Wanderers.
Commenting on the deal, David Kerr, CEO of Bird & Bird, says: 'There is a strong synergy between our vision – to be the number one law firm in the world for organisations being changed by technology and the digital world – and the ambitions of the many high-growth Chinese companies looking to expand internationally. We lead the international legal market in the tech, life sciences, renewable energy and space markets – and given these are areas that the PRC Government is committed to driving forward, we are excited to be able to help companies in these sectors recognise their international ambitions.' Wu Mingde, Managing Partner of AllBright, says: 'We need real capability and strong local law support outside of China to help our Chinese clients’ projects, investments, transactions and disputes in the UK and the rest of the world. Our agreement with Bird & Bird provides us with the perfect platform to achieve this.'