Analysis

China’s growth may dip below 8 percent in 2012. Yet most China watchers are still predicting close to 9 percent growth. There are three things that could push the country’s GDP growth to a ten-year low: falling house prices, a slump in property investment, and slowing exports. Last time Beijing stimulated the economy; it can ill afford a second round.

China’s M&A stars will align in 2012. If asset prices fall, and bank credit remains tight, the Year of the Dragon will give state-owned companies a chance to play to their two strengths: cheap financing and a mandate to acquire.

Chinese investors in the Middle East are becoming increasingly risk-averse, but can law firms seize this opportunity to bring about a change in their PRC clients’ business culture? Matthew Townsend analyzes the potential opportunity.

The Court of Final Appeal of the Hong Kong Special Administrative Region has handed down its much anticipated judgment in Democratic Republic of the Congo and Ors v FG Hemisphere Associates LLC.

Law firm consolidation is no longer a rarity today, yet several recent mergers between mid-tier Shanghai firms have caught the industry’s attention. Lawyers in Shanghai regard the recent mergers as a new trend that will shift the legal landscape, especially in terms of size of and competition between law firms.

律所合并不是什么稀奇的事，然而，最近上海的几起律所合并事件却成了热点话题。这几起律所合并是否会掀起一股律所合并潮流，从而最终改变上海整个律所行业的分布和服务规模，成为上海业内人士的关注焦点。

为落实中央政府与香港特区政府签署的《内地与香港关于建立更紧密经贸关系的安排》（CEPA）中关于法律服务的相关安排, 董松根副会长和黄仁龙司长近日分别代表中国贸促会和香港律政司在《商事法律事务及仲裁服务合作安排》上签字。

Secondments are an increasingly popular way for foreign law firms to maintain and build on relationships with their PRC counterparts, but achieving the real objectives of a secondment program requires much more than just providing working space

互派律师已成为促进中外律所间专业知识和文化交流的又一纽带和桥梁。众多外国律师事务所，尤其是尚未进入中国市场的律所，正积极与中国律所建立业务合作和战略联盟，人才借调计划正逐渐成为合作安排的重要组成部分。

While PRC banks are ramping up their lending in support of Chinese companies' foreign expansion, acquisitions and trade, PRC law firms are not just waiting around for their time to shine

俄罗斯总统梅德韦杰夫今年九月的访华无疑将进一步推动中俄能源战略合作，同时也将逐步推动两国企业见的商务合作向纵深发展。一个新的市场空间正在向两国的律师事务所敞开大门。

West China Cement becomes the third Chinese company to delist from AIM in 2010. Its shares transfer to the HKSE may mark the start of companies shifting their listings to Greater China exchanges and bring about new opportunities for capital markets lawyers in the region.

中国西部水泥近日成功在港交所挂牌上市，通过发行IPO集资额12.8亿港元。此次上市亦标着着该公司正式从伦敦AIM退市。众多律所普遍认为在未来将会有更多的企业从伦敦退市转而到香港上市。

It's not all about the money. And it's not about work-life balance either. The true reason behind several senior in-house lawyers' recent return to private practice lies in nothing less fundamental than the maturing of the Chinese economy itself. ALB China's Zhang Yun explains

China’s smaller law firms, especially those leading regional firms which are profitable and have enviable client lists, are being inundated with merger proposals from larger firms in first-tier cities. Many of them, however, have spurned these advances… and for good reason.

目前，国内的中小型律师事务所，尤其是业绩优异且客户资源丰富的区域型律所，正面临来自一级城市大型律所铺天盖地的合并提议。但许多这样的中小型律所，出于对律所自身发展的考虑，却断然拒绝了这样的“合并机会”。

With various regulators stepping up enforcement actions and taking a firm hand with companies that fail to comply with the law, businesses are paying increasing attention to compliance issues.

安永近期的一份报告强调，监管及合规风险已上升为2010年全球机构面临的第一大商业风险。众多律师事务所已证实合规相关的法律服务需求正大幅增加，表明企业在中国遵守法规的重要性正日益凸显。

Why companies should set up an external legal panel and how firms can get on the panels of the top companies? ALB China investigates.

对于外资跨国公司来说，除了在公司内部设立健全的法务部门之外，对于外聘律师事务所名录制度的采用已十分普遍。如今，越来越多的国内公司，特别是国有企业，也纷纷开始效仿这种模式，这预示着中国法律服务市场将迈入一个新的重要阶段。