Banking and finance partner Patrick Phua is set to lead the office, reports Legal Week, while 11 associates will also be drafted in to focus on structured finance and derivatives work, in addition to some outbound investment.

Strategic alliance

The firm, which already has premises in LG Twin Towers on Janguomenwai Avenue, also has a strategic alliance with Guantao, a PRC firm with offices in 10 major Chinese cities.
Mr Phua was formerly a partner at Hong Kong-based King & Wood Mallesons in Beijing  before joining Ashurst last year.
Kirkland & Ellis, Eversheds, Gibson Dunn & Crutcher and Clyde & Co are among other firms hoping to receive a licence to open a Beijing office this year, while Berwin Leighton Paisner is expected to launch in the city in May after gaining approval from Chinese authorities last month.