汇丰银行《2020年外籍人士探索者调查》报告显示，城市国家新加坡在外籍人士生活和工作的最佳目的地排名中位列全球第二。伴随中美博弈愈发激烈，新加坡正在凭借其优良的法律、营商环境，以及和中国独特的亲密关系，成为中国科技巨头出海的另一热门目的地。
过去12个月来，伴随中国国内针对互联网企业的监管异常收紧，互联网巨头纷纷调转脚步，开始为下一步发展寻找新的商业赛道或目的地——他们不约而同将目光投向了新加坡。
据彭博社报道，腾讯在去年9月便宣布将新加坡作为其海外业务的区域中心；为应对日益趋紧的监管，电子商务巨头阿里巴巴也做出了类似决定，开始在新加坡抢占办公空间；去年12月，百度支持的流媒体平台爱奇艺宣布将新加坡作为其国际总部所在地；而在不得不收缩在印度的业务后，字节跳动也在去年年底宣布扩大新加坡业务并开始大举招聘人才，据《金融时报》报道，字节跳动目前在其新加坡业务上的投入要远高于在全球其他地区的投入。
在中美博弈焦灼、中国互联网企业腹背受困的背景下，新加坡似乎提供了一丝光亮和喘息。这里法律、经济制度成熟，人才丰富；长期实行的双语环境对中国企业和投资者十分友善，也长期扮演着东西矛盾缓冲地的角色。
新加坡外交部长维文在今年早些时候甚至表示，作为区域金融中心，新加坡能够支持中国资本市场的开放，并成为中国投资者进入东盟市场和的门户；中国“一带一路 ”对外投资中有近四分之一都通过新加坡流动，其特殊的地理位置和中立立场，将在中国“双循环”战略中扮演重要角色。
“新加坡以其政治稳定、没有腐败、具有竞争力的商业法律和机构以及中立性而闻名。其双语政策也造就了一支受过良好教育和高技能的人员队伍，他们可以与中国投资者和客户进行日常工作对话和专业沟通。新加坡已经发展成为中国和西方之间的有效门户。”
- 邱武德，德尊律师事务所
“新加坡以其政治稳定、没有腐败、具有竞争力的商业法律和机构以及中立性而闻名。” 德尊律师事务所争议解决部副管理董事邱武德律师指出，这些因素对希望在新加坡扩张的国际企业无疑十分有利。“新加坡的双语政策也造就了一支受过良好教育和高技能的人员队伍，他们可以与中国投资者和客户进行日常工作对话和专业沟通。新加坡已经发展成为中国和西方之间的有效门户。”
最近一段时间，邱律师确实观察到了中国互联网及科技企业在新加坡的日益活跃，“无疑为我们提供了更多机会”。谈到相关中国企业进军新加坡甚至整个东南亚市场所伴随的法律需求，他列举道，“例如市场准入、信息通信监管、竞争和合规、上市、合资企业、投资和融资协议以及收购，这些通常是企业的需求。（此外还可能有）与中国有关的纠纷”。
邬美珍律师是贝克·麦坚时新加坡成员所Baker McKenzie Wong & Leow负责人、并购业务联合主管，她也观察到：“中国科技企业在新加坡展开运营需要一系列广泛的法律服务，包括公司法、劳动法、税务和知识产权领域服务。最重要的是，他们希望法律顾问在其产品和服务引入东南亚时，提供与此相关的监管及合规建议，并且这些建议要中肯又实用。”
中国所加紧进驻
事实上，新加坡在国际所全球布局中向来是东南亚业务重要的根据地。伴随中国客户加紧入驻，中国律所也展开了向新加坡进发的出海之路。
“我的印象是，最近一段时间，新加坡对中国的律所来说变得越来越重要，因为中国的新兴企业需要有足够的、反应迅速的法律支持。”德尊的邱武德律师告诉ALB，“中国的律所正在扩大在新加坡的业务，以满足中国企业在该地区日益增长的法律需求，这是一个自然的发展。”
然而，很长时间以来，虽然存在紧密的文化联结，但落脚新加坡和东南亚的中国律所数量并不多，且当地办公室规模都相对较小。这一情况似乎正在变化：金杜、京师、兰迪等中国所近年纷纷扩展了新加坡市场，6月，总部位于上海的锦天城律师事务所也成为最新一家开设新加坡办公室的中国律所。
锦天城上海总部的两位合伙人刘炯和叶芳律师未来将领导该办公室的运营。他们告诉ALB，目前该办公室还处于试水状态，虽不提供新加坡当地法律服务，但能够为中国企业走出去提供咨询。
“随着近几年资本和产业的涌入，以及国际局势的情况变化，新加坡就好似一个东南亚的漏斗，随着局势的改变而灵活变化，相较其他地区也容易承接一些新的机会。而头部企业的转移带动着产业链上下游的跟随，中国企业出海对于中资所也会更为信任，因此我们的法律服务也需要进一步延伸”。
- 叶芳，锦天城律师事务所
叶芳律师指出，“随着近几年资本和产业的涌入，以及国际局势的情况变化，新加坡就好似一个东南亚的漏斗，随着局势的改变而灵活变化，相较其他地区也容易承接一些新的机会。而头部企业的转移带动着产业链上下游的跟随，中国企业出海对于中资所也会更为信任，因此我们的法律服务也需要进一步延伸”。
刘炯律师对此抱有同样看法，他认为： “新加坡对于我国走出去引进来的地位在逐渐加强，就我国而言，一带一路的持续推进是新加坡成为重要中转站的必然因素。”
刘炯律师预测，新加坡未来或将成为更多中国所海外拓张的战略重点。据新加坡律政部数据显示，目前已有超过130家外国律所在这个城市国家设立了办公室。叶芳律师则预测，如果未来市场产生更多的需求，中国所自然会相应加大投入。
就像中国企业抵达新市场后要与更为多元的对手展开竞争一样，未来中国所、新加坡本土所和国际所将同台竞技，对于中国客户来说，他们各自有哪些优势？
刘炯律师认为，作为“初来乍到”的外来者，中国所应该先厘清自己在这一新市场的独特优势。“就锦天城而言，我们的优势在于国内庞大的客户基础，如何助其解决所急需的海外法律服务，助其对接到最合适的境外法律资源，是我们的工作重点。”
谈到和新加坡本土资源间的关系，刘律师认为两者间更多是“一种互相协作的良好关系”。
德尊的邱武德律师对此表示赞同：“中国律所的日益增长，对德尊等本地所而言并不构成直接挑战。相反，我们期待与这些律所加强合作，以求抓住新机遇。”他也指出，中国所的进驻并不会打破本土所独有的优势，例如提供新加坡普通法法域的法律咨询，以及对越来越多作为国际规则使用的新加坡法律更为熟悉。
贝克·麦坚时的邬美珍律师则指出，中国科技企业显然不会仅盯着新加坡，未来他们的野心将席卷整个东南亚。“这些企业最大的挑战在于应对东南亚地区各种不同的法律制度——要知道，该区域不同法律制度间差异极大。”她说，“我们的优势就在于在东南亚各地具备强有力且成熟的区域办公室，并曾成功协助许多外国企业应对此类挑战。”
Destination: Singapore
Due to its geographical and cultural proximity to China, tiny Singapore has long had deep ties with the world’s most populous country. These ties are set to deepen as Chinese tech giants look to Southeast Asia as the next area for growth, with Singapore as the most obvious hub for the region.
With China tightening its supervision of Internet companies in the past year, these firms are looking at Southeast Asia for their next phase of growth, and Singapore is at the centre of their plans.
According to Bloomberg, following a similar decision from Alibaba, Tencent has chosen Singapore as a regional hub for its overseas operations. But they are not the only ones looking at the “Little Red Dot.” At the end of 2020, Baidu-supported video platform iQiyi announced that Singapore would be its international headquarters. The Financial Times also reported that the social media giant ByteDance would expand its operations in Singapore.
There are many reasons why this is happening. Singapore is believed to offer a safe haven for companies caught between China-U.S. trade tensions. Also, it is known for its mature legal and commercial system, and with its multilingual business environment, it is accessible to Chinese companies and investors.
Additionally, nearly a quarter of China's Belt and Road outbound investment is flowing through Singapore. Earlier this year, Foreign Minister Vivian Balakrishnan noted that as a regional financial hub, Singapore can play an important role in China's dual-cycle economy due to its special geographical position and neutrality.
- Randolph Khoo, Drew & Napier LLC
“Singapore is known for her political stability, absence of corruption, competitive commercial laws and institutions and neutrality,” says Randolph Khoo, deputy managing director of the dispute resolution practice at Drew & Napier, one of the city-state’s largest firms, adding that these factors are attractive for international companies expanding in Singapore.
“Singapore’s bilingual language policy has also led to a well-educated and highly skilled workforce that can bridge communications divides, including day to day working conversations and professional communications,” he adds. “Therefore, Singapore has evolved into an effective gateway between China and the West.”
Indeed, Khoo has observed the growing presence of Chinese Internet and technology companies in Singapore recently, and this situation “undoubtedly provides more opportunities.” Support that these companies need includes “advising on market entry, info-communications regulation, competition and compliance, public listings, joint ventures, investment and financing agreements and acquisitions, which are likely to be within the needs of such businesses.”
Bee Chun Boo, a principal and co-head of the M&A practice at Singapore’s Baker McKenzie Wong & Leow, adds that Chinese tech companies need a wide range of legal services when they expand operations into Singapore, including corporate, employment, tax and intellectual property. “Most importantly, Chinese tech companies look for advisers who can provide them with sound and practical advice on regulatory and compliance issues that are associated with the introduction of their products and services into Southeast Asia,” she adds. “The challenge is navigating through the various legal regimes within Southeast Asia as there are significant differences between these regimes.”
LAW FIRMS ON THE WAY
With Chinese enterprises stepping up their presence in Singapore, PRC law firms are also on their way to the city-state.
“I have the impression Singapore is becoming more important to Chinese law firms in recent times as a result of the need for businesses emerging out of China to have adequate and responsive legal support,” says Khoo of Drew & Napier. “It is a natural development that Chinese law firms are expanding their presence in Singapore to serve the growing legal needs of Chinese businesses expanding into the region.”
For a long time, Chinese law firms generally ignored Singapore and Southeast Asia when it came to overseas expansion. The situation appears to be changing: Chinese firms such as King & Wood Mallesons, Jingsh Law Firm and Landing Law Offices have expanded in Singapore in recent years. And in June, Shanghai-headquartered AllBright Law Offices became the latest one to announce Singapore plans.
- Amy Ye, AllBright Law Offices
John Liu and Amy Ye, two Shanghai-based partners at AllBright, will lead its Singapore office in future. They tell ALB that the office will initially advice Chinese companies investing in Southeast Asia. "With the influx of capital and industries in recent years, as well as the changes of the international situation, Singapore is like a funnel in Southeast Asia. As it is flexible to change as the situation changes, therefore it is easier to take on some new opportunities than other regions," says Ye. “And Chinese companies will also have more trust in Chinese law firms, so our legal services need to be further extended."
Liu adds: “The importance of Singapore is gradually strengthening. As far as China is concerned, the continuous promotion of the Belt and Road Initiative is the inevitable factor for Singapore to become an indispensable transit station.”
In Liu’s view, Singapore is likely to become a strategic priority for more Chinese law firms that are expanding overseas. Ye predicts that if Chinese law firms see more demand for an office there in the future, they will increase their investment accordingly.
According to data of Singapore's Ministry of Law, there are more than 130 foreign law firms with offices in the city-state. Assuming more Chinese law firms arrive in Singapore in the future, they will be competing in a very crowded market indeed. Should they fear the competition?
Liu believes that as newcomers, Chinese law firms should first make clear their unique advantages in this new market. "As far as AllBright is concerned, our advantage lies in the huge domestic customer base. How to help them solve the urgent need of overseas legal services and receive the most appropriate overseas legal resources is our focus," he notes, adding that it’s important to collaborate with local firms.
Khoo agrees: “We look forward to enhancing collaboration with these Chinese law firms to seize new opportunities in the region.”
To contact the editorial team, please email ALBEditor@thomsonreuters.com.
