Zhan Hao - one of China’s most respected anti-trust specialists and current executive partner at Beijing-based Grandall law firm - is taking 40 lawyers from his old firm, whilst three partners are leaving Zhong Lun to join the new outfit which will have around 100 lawyers initially.
Mr Zhan told the Financial Times that three years ago, most Chinese clients wanted to use foreign law firms but things had changed. ‘Foreign [multinational] companies think Chinese law firms are more experienced now and the costs are reasonable compared with foreign law firms.’
The new firm plans to focus on Chinese clients and set up branch offices in Shanghai and Shenzhen and would also form alliances with law firms in the UK, the US and Belgium. Its focus will be on antitrust, insurance, intellectual property and foreign investment work.