尽管在本世纪初，还有许多法律学者在文章中指出小型律所在资源、人员、执业领域和品牌效应等方面存在的各种劣势，并认为这些劣势将对其发展造成制约，经过20年的发展，一批又一批小型律所通过毋庸置疑的专业实力取得了节节攀高的辉煌业绩，赢得了众多大客户的青睐，与大型律所共同在这个舞台上发光发亮。ALB China在这些优秀的律所中评选出2020年精品律所。本篇文章将回顾这些律所的发展历史以及所取得的辉煌业绩和成就。

今年上榜律所都成立于2000年以后。有七所成立于千禧年后的第一个十年，三所成立于2010年至2020年之间，其中，最为“年轻”的是上海澄明则正律师事务所，成立于2018年。这些律所在中国大陆的办公室大多分布于北京和上海。其中，路盛律师事务所将总部设在了北京，并在上海及广州设有分所，北京市柯杰律师事务所在深圳设有分所，，福建世礼律师事务所的办公室所在地位于厦门。

多数上榜律所在中国大陆地区合伙人数量不超过五位。在中国大陆地区主要业务领域涉及资本市场、收购与兼并、争议解决、合规、基础设施、政府和社会资本合作（PPP）、知识产权、民商事诉讼、建筑工程、TMT与互联网、教育、医疗健康与医药，生物技术、电信、传媒、娱乐、科技金融、家族财富及信托、供应链业务、海关业务、反倾销等。

业绩与成就

2019年7月，柯杰为远洋集团控股有限公司发行6亿美元10年期境外高级美元债券提供中国法律意见。本次发行的募集金额为6亿美元，票面利率为4.75%，抓住了美联储议息会议前有利的市场窗口，获得了国际资本市场和投资者的高度认可和追捧，并获得国际著名评级机构穆迪、惠誉授予的对公司和所发行债券的投资级评级。此外，2019年3月，柯杰为远洋控股集团（中国）有限公司面向合格投资者公开发行29亿人民币公司债券提供中国法律意见。本次发行获得中国证券监督管理委员会核准，面向合格投资者公开发行29亿人民币公司债券。这是2019年簿记AAA级别房地产公司债中单次簿记规模最大的一笔。中诚信证券评估有限公司就本次发行给予了公司主体AAA的信用评级以及AAA的债券信用评级。

上海澄明则正律师事务所（澄明）协助多家中国企业完成在境内外上市，并为众多企业提供私募股权投融资、收购兼并、争议解决、合规等法律服务。在新氧美股上市项目中，澄明担任承销商中国律师，就行业监管政策及潜在风险向承销商及发行人提供中国法律分析及建议。新氧是中国最大的医美服务平台，也是第一家赴美上市的医疗美容服务在线平台。澄明亦为新氧提供了多轮pre-IPO美元股权融资和合规建议的法律服务。“国民零食第一股”三只松鼠登陆创业板上市项目中，澄明担任主承销商的法律顾问，在业务模式合规论证、食品进口生产销售环节合规、电商平台和电商经营者责任划分等合规问题上，向承销商提供了重要的法律建议和支持。此外，澄明在阅文集团收购新丽传媒项目中担任卖方的中国法律顾问。新丽传媒是中国著名的电视剧、网剧及电影制作公司，在业内具有广泛的影响力，在并购交易之前曾 拟于A股上市。阅文集团作为已上市的文学IP类的龙头是线上文学的先驱和领导者，是香港上市企业。该交易涉及内外资不同股权架构，交易前的重组及新老股权安排复杂，澄明全程参与了这两家龙头企业大体量的结合，助力企业打通产业链。

采安律师事务所自2014年7月成立至今在各业务领域业绩逐年增加，尤其在境内外建设工程、跨境建设工程巨额“见索即付”保函、境内外商事仲裁、跨境投资与贸易、政府与社会资本合作（PPP）、体育产业、境内外知识产权等方面，获得客户一致好评。

上海汇衡律师事务所秉承“团队合作、质量优先”的理念，经过十五年的发展，凭借卓越的服务质量和差异化竞争的经营理念，在并购重组、金融服务、争议解决、合规监管等领域形成了良好的市场口碑，与众多的国内外知名企业建立了长期稳定的合作关系，并被国际顶级律师联盟Meritas选任为其在中国大陆的第一家成员所。汇衡律师经办的成功案例曾被最高人民法院收录为年度典型案例、涉“一带一路”建设十大典型案例等，最高人民法院在制定独立保函司法解释征求意见稿时，亦曾对汇衡律师代理的新型案件进行了专题研究并采纳了汇衡律师在案件中提出的观点。汇衡作为行业专家，多次受邀为政府部门、银行、金融机构、跨国企业等就前沿法律问题进行授课。汇衡律师在跨境投资领域的专业素质和丰富经验获得司法部的认可，入选司法部全国千名涉外律师人才库。

路盛律师事务所通过多年来的专业化服务，在业界树立了知识产权领域具备极强业务能力的精品所的良好声誉。历年来路盛经办了一系列具有重大影响力的案例，包括约近30余起获得最高院或者各省高级法院选定的典型案例。这些案例有的成为司法实践中供其他案件参考适用的先例，有的对立法的修改完善起到引领作用，从而对推动中国知识产权领域的法制发展进程，产生了积极的影响。通过十四年的发展，从最初的几名律师，发展到现在的100余人；从最初单一的知识产权诉讼服务，到后来获得国家知识产权局授予的专利代理资质，增加了知识产权商业化服务，路盛一直围绕知识产权领域做专做强。路盛律师事务所曾被北京市朝阳区知识产权局授予“优秀中介服务机构”荣誉，，并获得有关行业和部门的信任，受托承担了包括“ 商标法修改建议项目”（中华商标协会委托），“中国企业在一带一路国家知识产权风险提示（预警）报告”（受行业协会委托）等重大研究课题项目，为知识产权的深入发展出谋策划。

北京市百宸律师事务所是中国率先提供全面的私募股权与风险投资法律服务的律师事务所之一，并一直将服务中国风险投资市场视为业务重点。百宸拿下过“外汇75号文件”下最早一批项目、主导过第一批科创板企业上市。百宸还在叮当快药新一轮融资的项目中作为法律顾问，所提供的主要法律服务内容包括设计、论证交易架构及交易方案，起草、修改并与各投资方律师谈判投资交易文件，协助公司与老股东沟通本轮融资相关事宜，为各方准备全部投资交易文件签字页，协调各方签署，并制作签署版文件，协调交割事宜。叮当快药的本轮融资交易结构相对复杂，涉及多次交割安排，每次交割的条件和方式均不同，对律师的交易方案设计和文件起草能力都有较高要求。同时，本轮融资的参与方相对较多，需要律师配合公司与新老投资人分别沟通，协调和处理不同投资人的不同诉求。百宸在很短的时间内就交易方案和交易结构从法律角度提供了专业意见，对交易中所涉法律问题进行了深入分析，最终提出了令客户及新老投资人都满意的商业可行的解决方案。

美国盛智律师事务所总部位于洛杉矶，于2007年成立上海办公室。盛智中国业务在知识产权、并购投资、基金等领域保持着高速增长，并在生命科学、医疗、通信、互联网等行业树立了良好的品牌声誉。越来越多的中国企业在商事、知识产权和反垄断领域面临着诸多国际争端，盛智在多个跨境争端中代表许多中国企业，保护它们在外国司法管辖区的合法利益。

世辉律师事务所专注于提供新经济领域的私募投融资、境内外上市、并购重组、基金设立、财富管理、反垄断等法律服务。世辉团队已成功完成数百家企业的私募融资、并购、红筹回归及上市项目，2019年度的代表性项目包括代表京东集团完成京东健康逾10亿美元A轮融资协议签署，全程参与本项目之重组方案设计、法律尽职调查及交易文件准备事宜。此外，世辉团队曾先后参与京东商城历轮融资、京东物流25亿美元A轮融资以及京东数科（原京东金融）130亿元人民币B轮融资等重大项目，见证了京东集团迅猛且稳健的业务扩张。

福建世礼律师事务所成立于2000年，一直是福建及周边地区精品律师事务所的卓越代表。世礼长期注重律所管理，人均业务量始终居市场前列，专业水准与服务质量更是受到同行及客户的高度评价，2016年则作为厦门市唯一一家律师事务所被中华全国律师协会评为“全国优秀律师事务所”。世礼核心合伙人构成在律所发展的近二十年间极其稳定，并吸收有着根本相同理念的新合伙人加入。作为福建省内极少数严格按照一体化方式管理的律所，有明确的愿景、使命与价值观。世礼于2007年加入世界知名的Lawyers Associated Worldwide （LAW），是该国际律所联盟组织最早的中国成员所之一。世礼的主要业务领域包括供应链业务、海关业务、知识产权及国际业务。

北京市天地和律师事务所系经北京市司法局批准成立的合伙制律师事务所，其主要业务领域包括反倾销和反垄断。天地和与美国、欧盟、日本和韩国的多家国际大型律师事务所进行广泛的合作，与国内外法律界、金融界有较为密切的联系，并与中国政府有关部门保持良好的沟通。本着一切为了客户的利益的宗旨，天地和以为客户提供高质量、高效率的专业化服务为己任，竭诚满足客户的各种具体要求。

2020 ALB China Firms to Watch

What they lack in size, small law firms in China are making up with specialised expertise and professional strengths, winning business from a variety of clients – including some very large companies – and competing toe-to-toe with larger firms in the legal market. As in other years, ALB compiles its list of China Firms to Watch for 2020 by showcasing the achievements of ten such outstanding small firms.

The law firms included in this year’s ranking were all founded after 2000, with seven of them established during the first decade of the millennium, and three between 2010 and 2020. The “youngest” one is CM Law Firm, established in 2018. Most of these firms have their offices in Beijing and Shanghai. Lusheng’s headquarters is in Beijing with offices in Shanghai and Guangzhou; Cathay Associates Kejie has an office in Shenzhen, whereas Sphere Logic Partners’ headquarters is in Xiamen.

Most of the firms on the list have no more than five partners on the mainland. Their main business areas include capital market, mergers and acquisitions, dispute resolution, compliance, infrastructure, public-private partnership, intellectual property, civil and commercial litigation, construction and engineering, TMT and Internet, education, healthcare and medicine, biotechnology, telecommunications, media, entertainment, fintech, family wealth and family trust, supply chain business, customs business, and anti-dumping.

ACCOMPLISHMENTS

In July 2019, Cathay Associates Kejie advised Sino-Ocean Group Holding on the issuance of $600 million of 4.75 percent guaranteed senior notes due 2029. The company plans to raise $D600 million through the offering. The issuance seized a window of opportunity before the Fed held the meeting on interest rates and has been highly recognised and sought after by the international capital market and investors. The issuance was rated by international credit rating agencies, Moody’s and Fitch, reflecting the investment grade of Sino-Ocean Group and the notes. In March 2019, Cathay Associates Kejie advised Sino-Ocean Group on the public issuance of 2.9 billion yuan ($434 million) of corporate bonds to qualified investors. The issuance was approved by the China Securities Regulatory Commission. This is the largest single offering of AAA real estate corporate bonds in 2019. China Chengxin Securities Rating gave the company the AAA credit rating and the AAA bond credit rating for the issue. CM Law Firm assisted several Chinese companies in completing their IPOs overseas, and provided many enterprises with legal services in private equity investment and financing, mergers and acquisitions, dispute resolution and compliance. In So-Young International Inc’s U.S. IPO project, CM was the underwriter’s Chinese lawyers, providing Chinese legal analysis and advice to underwriters and issuers on industry regulatory policies and potential risks. So-Young is the largest medical beauty service platform in China and the first online medical beauty service platform listed in the United States. CM has also provided legal services for many rounds of pre-IPO USD equity financing and compliance. In the Gem IPO project of Three Squirrels (“the nation’s first listed snack”), CM was the legal counsel of the lead underwriter, providing important legal advice and support to the underwriters on business model compliance demonstration, food import production and sales link compliance, e-commerce platform and e-commerce operator responsibility division and other compliance issues. Additionally, CM was the seller’s Chinese legal counsel in China Literature’s acquisition deal on New Classics Media, the latter a well-known TV and film production company in China, with great influence in the industry. Before the deal, New Classics Media had planned to be listed on A-shares. As the leader of the listed companies in literature IP category, China Literature is the pioneer and leader of online literature, also a company listed in HK. The deal involved different equity structures, both domestic and foreign. The pre-deal restriction and the arrangement of new and old equities were highly complicated. CM has participated in the whole progress of the combination of these two leading enterprises and helped them link the business chain.

Since its establishment in July 2014, Beijing Cyan Law Firm has been making remarkable achievements in various practice areas, and received clients’ recognition for its outstanding services, especially in domestic and foreign construction and engineering, cross-border construction projects, guarantee letters related to cross-border construction and engineering involving a huge sum of money, domestic and foreign commercial arbitration, cross-border investment and trade, public-private partnership (PPP), sports industry and domestic and foreign intellectual property rights.

HHP Attorneys-At-Law adheres to the concept of “teamwork and quality service.” By virtue of its excellent services and business philosophy of differentiated competition, the firm has built a good market reputation in the fields of M & A and restructuring, financial services, dispute resolution, and compliance over the past 15 years, and established long-term, strong cooperation relations with many renowned enterprises at home and abroad. HHP is the first member firm of the legal network Meritas in mainland China. HHP’s successful cases have been noted by Supreme People’s Court as the Typical Cases of the Year, Top Ten Typical Cases of “Belt and Road” Construction and more. While the Supreme People’s Court called for exposure draft for establishing an independent guarantees judicial interpretation, HHP’s novel cases were studied by the Court and HHP’s lawyers’ opinions were well taken. As an industry expert, HHP has constantly been invited to deliver lectures on advanced legal issues for government departments, banks, finance agencies, multination enterprises, etc. Ministry of Justice has recognised HHP lawyers’ professional qualification and rich experience in overseas investment and included them into national lawyer talent pool.

Lusheng Law Firm (“Lusheng”) has built a solid presence in the industry as a reputable boutique firm with strong business capabilities in intellectual property. Over the years, Lusheng has handled a great deal of cases with significant influences, including about 30 typical cases selected by the Supreme People’s Court or the High People’s Courts at provincial level. Some of these cases have become precedents in judicial practice for other cases to refer to or apply, and some have played a guidance role in legislative amendments and improvements, thus having a positive impact on promoting the development of the legal system in China’s intellectual property field. Since its establishment 14 years ago, the firm saw growth in its team and business, from several lawyers at the beginning to over 100 employees at present, and from only engaging in IP litigation services to obtaining the patent agency qualification granted by State Intellectual Property Office. Lusheng was awarded the honour of “Excellent Intermediary Service Agency” by Chaoyang District Intellectual Property Office of Beijing City. Having won trust from relevant industries and organisations, Lusheng was entrusted with major research projects including “modification of trademark law” (delegated by China Trademark Association) and “reminder (early warning) report on intellectual property risks of Chinese enterprises in One Belt And One Road countries” (delegated by associations of industries), making contributions for the profound development of intellectual property.

PacGate Law Group is one of the first law firms in China that provide comprehensive legal services in the field of private equity and venture capital, and has always regarded serving the Chinese venture capital market as the business focus. PacGate conducted the first batch of projects approved under the Document Hui Fa [2005] No. 75 issued by the State Administration of Foreign Exchange, and served as the lead law firm, providing legal services for the first batch of enterprises listed on the STAR market. PacGate also acted as the legal adviser to Dingdang Medicine Express in its new round of financing, and provided legal services including designing and demonstrating transaction structures and transaction scheme, drafting, revising and negotiating investment transaction documents with lawyers of investors, assisting the company in discussing with original shareholders about the financing related issues, preparing all signature pages of investment transaction documents for all parties, coordinating the parties’ signatures, producing signed versions of documents, and coordinate the delivery matters. The structure of this round of financing transactions for Dingdang Medicine Express was quite complicated and involved multiple delivery arrangements, and the condition and method for each delivery were different, which posed high requirements for lawyers on their ability to design and draft transaction scheme documents. Meanwhile, this round of financing involved several participants, requiring lawyers to assist the company in communicating with old and new investors separately, and to coordinate and handle the different demands of different investors. Within a very short period, Pacgate provided professional advice from a legal perspective on the transaction scheme and transaction structure, conducted an in-depth analysis of the legal issues involved in the transaction, and finally proposed a commercially viable solution satisfying the needs of the client and the needs of its new and old investors.

Sheppard Mullin Richter & Hampton, headquartered in Los Angeles, established its Shanghai office in 2007. The firm’s China operation has maintained rapid growth in the fields of intellectual property, M&A investment, funds, and has built a good brand reputation in industries such as life science, medical and healthcare, communications and the Internet. More and more Chinese enterprises are faced with multiple international disputes in commercial, IP and anti-monopoly. Sheppard Mullin has represented them in many cross-border disputes and successfully protected their legal interests in foreign jurisdictions.

Shihui Partners specialises in providing legal services in the new economy field for private equity investment and financing, domestic and over-seas listings, M&A and restructuring, fund establishment, wealth management, and antitrust. Shihui has success-fully completed the private equity financing, mergers and acquisitions, red chip return and listing projects for hundreds of companies. One of the major projects of Shihui in 2019 was that the firm represented JD Group in signing the Series A financing agreement for Jingdong (JD) Health, with the value of over $1 billion, and participated in the whole process of the project, including the restructuring plan design, due diligence and preparation of transaction documents. Shihui also participated in major projects such as JD Mall’s financing series, JD Logistics’ $2.5 billion Series A financing, and Series B financing of JD Digits (formerly JD Finance) of 13 billion yuan ($1.9 million), which have witnessed the rapid and steady business expansion of JD Group.

Sphere Logic Partners, founded in 2000, has been an outstanding representative of boutique law firms in Fujian and surrounding areas. With the focus on the firm management, SLP’s per capita business volume has always been at the forefront of the market, and its service standards and quality are highly praised by its peers and clients. In 2016, the firm was awarded as an Outstanding National Law Firm by the All China Lawyers Association, the only law firm in Xiamen whichever receives the honour. The core partners of SLP remain extremely stable over the past nearly two decades, and meanwhile, the firm attracts new partners sharing the same philosophy to join them. As one of the few firms in Fujian which adopt the integrated management, SLP has clear vision, mission and values. SLP joined the world-renowned law firm association Lawyers Associated Worldwide (LAW) in 2007, becoming one of its first Chinese member firms. The main business fields of SLP include supply chain, customs matters, intellectual property rights, foreign and cross-border business.

T&D Associates is a partnership law firm established with the approval of Beijing Municipal Bureau of Justice. Its main business areas include anti-dumping and anti-trust. T&D Associates has extensive collaborations with a number of large international law firms in the United States, the European Union, Japan and South Korea, and maintains close ties with the legal and financial circles at home and abroad; and it also maintains good communication with relevant Chinese government departments. Adhering to the principle of client first, T&D always provides clients with specialised services of high quality and efficiency, and endeavours to meet specific needs of clients.

To contact the editorial team, please email ALBEditor@thomsonreuters.com.