After the closure, the firm will have eight offices in Europe and Asia. It does not appear to be closing the office for cost-cutting reasons - its revenues increased by eight per cent last year. Chief executive Sharon White said: ‘In 1994, Stephenson Harwood became one of the pioneering international law firms to set up in Guangzhou. Since then, the legal landscape in China has changed considerably and we have decided to cease operating in Guangzhou. Notwithstanding the cessation of our practice in Guangzhou, we will continue to maintain strong ties with the city. Our former colleagues are in the process of setting up an independent PRC law firm. We expect to maintain a close working relationship with this firm, when established.’ Source: Legal Business