YangTze Law has become the UK’s first wholly Chinese-owned law firm to facilitate investment in UK from mainland Chinese businesses.
The law firm has launched in London, following approval from the Solicitors Regulation Authority in April. The firm is the brainchild of British educated, Hong Kong and Beijing based lawyer, Steve Ng, and Winston Gao, a Senior Partner at Jun Yan law firm in Shenzhen.
YangTze Law has been set up specifically to serve the needs of a new generation of mainland Chinese corporates looking to foreign investment but who might have been deterred by lack of familiarity with the legal and business systems or language and cultural barriers.
Stephen Denyer, Head of City and International for the Law Society, comments: “I am delighted that a new type of Chinese legal service provider is coming to London and doing so in collaboration with an English law firm. This underlines the important global role of London as a legal hub and the attractiveness of our jurisdiction.”
Steve Ng commented: “YangTze Law is a Chinese firm for Chinese clients. It has the support of our legal network and its client base. We see our target market as Chinese businesses who have no representation abroad. We are not here to step on anyone’s toes but to expand Chinese participation in the UK market.
“There are an increasing number of Chinese firms looking to invest and do business in or through the UK but for whom cultural and legal differences can be a real barrier.
“YangTze Law will fulfil a need that has not previously been met by the UK legal market and, over the near to long term, will help to unlock the door for a new group of Chinese investors. The launch of the firm is, we believe, good news for both the UK economy and Chinese businesses.”
The launch of YangTze Law has been well received by internationally focussed corporates based in mainland China.
Winston Gao, who has previously represented many top Chinese entities on overseas investments and international dispute resolution, is very confident about the development of YangTze Law. He added: “I am proud to have been involved in the creation of YangTze Law and am looking forward to our future. We have a unique proposition and one which will be well-received by the Chinese business community. It has already created high levels of interest and I am convinced that it will have a bright future.”
YangTze Law is based at 25 Southampton Buildings, London, WC2A 1AL. The firm is working on plans to open offices in Hong Kong and New York in the next 12 months.