The beginning of the year is the ideal time to take stock of how the last 12 months have been for a legal market, key trends witnessed, and how some of the important players are doing. The State of the Market report for Singapore and Hong Kong captures the mood going into the New Year, and what 2016 holds.

Midshore jurisdictions like Singapore, Hong Kong and Ireland, which incorporate elements of both onshore and offshore jurisdictions, are becoming increasingly popular among investors. Structured products are at risk of being caught by Europe’s AIFMD, which is designed for hedge funds. And Hong Kong’s new trust law is expected to enhance the SAR’s image as an international asset management centre. By Ranajit Dam, with additional reporting by Owen Sanderson of IFR

As the downturn in the shipping industry continues, and owners look for new sources of finance, private equity funds have begun entering the industry in a significant way. What started as a trend in New York is now moving to Asia, find Keith Wallis of Reuters and Ranajit Dam

Macau casinos bet on China's rising middle class, finds Farah Master of Reuters

Earlier this year, the Hong Kong government proposed changes to the city’s investment laws to allow private equity funds to enjoy the same tax exemptions as offshore funds. These incentives are set to lure Chinese private equity funds, encourage more hedge funds and private equity firms to set up in the city, and seriously bolster Hong Kong’s potential to become a regional private equity centre, finds Ranajit Dam

The lights have begun dimming for China’s solar industry and in particular Suntech Power Holdings, the country’s largest solar panel maker, whose biggest subsidiary declared insolvency after defaulting on $541 million of bonds last month. Aside from being one of China's most notable corporate failures in recent history, it could also be the first significant test of China's bankruptcy law since it was introduced in 2007, finds Ranajit Dam. Additional reporting by Reuters

The China MediaExpress case has highlighted once again the value of the former British colony, and current Chinese SAR, as a seat of arbitration for mainland-related disputes, writes Ranajit Dam

White & Case has promoted Jonathan Olier, Nandakumar Ponniya and Alexander W. Woody to partnership in Asia as part of a total of 28 partner promotions worldwide.

Dacheng Wong Alliance (DCWA), the Singapore joint law venture between China’s Dacheng and local firm Wong Alliance, has hired veteran corporate lawyer Yang Yen Thaw as the co-head of its India practice.

Propelled by a historically high yen and a stagnant economy back home, Japanese companies are moving production to Southeast Asian countries such as Vietnam and Thailand at a faster pace than ever before. Japanese law firms are also expanding into the region to take advantage of a spike in demand for services, writes Ranajit Dam.