Competition heats up amongst law firms in China

Competition for work in China is growing rapidly and foreign firms say it is difficult to make a profit in the country.With Fried Frank shutting up shop and Dentons getting into bed with local firm Dachengs, firms now need to compete with not only with the 170 other international firms with offices there, but increasingly with the more than 19,000 Chinese firms, according to Sino-US.com. 'In China the competition is fierce for everything,' said Eric Piesner, a Morrison & Foerster LLP partner responsible for the firm’s Asia offices, told the website. 'And it’s growing more competitive by the month.' Source: Sino-US.Com