EVENTS
ALB invites Zhong Lun to an Interview on the Firm’s Development
ALB invites Zhong Lun to an Interview on the Firm’s Development
On January 18, 2008, at the invitation of ALB, Zhang Xue-bing, Liu Bo-rong of Zhong Lun’s Beijing Office and Jeremy Dai of Shanghai Office proudly attended telephone interviews with ALB, on the topic of the Firm’s development in 2007.
As Zhang Xue-bing pointed out, in 2007, in addition to the traditional practices, the Firm made major progress in developing new businesses in the fields of foreign related M&A, PE equity investment, securitization, and bankruptcy. On the other hand, our competitiveness in our main practice areas was also enhanced. The Firm’s overall business revenue increased by over 50% and per-partner revenue also increased substantially. We owe our thanks to the rapid development of China’s economy, especially the growth in service industry, as well as the continuing hard work and incessant efforts of all our partners and associates, for the unexpected high progress in the Firm’s business.
Responding to the inquires on the Firm’s plan to establish branch offices in other places in China, Zhang Xue-bing believed that some law firms that expand their business through franchising or merger tended to loosen control of their management and risk control issues, owing to the overly rapid expansion. In order to shield the firm from the risks involved in all Zhong Lun’s branch offices, Zhong Lun has established a management system that ensures centralized control and close work management. The Firm opened its Tokyo Office last year with a view to drawing investment and trade opportunities from Japan into China, and at the same time, contributing to the internationalization of the Chinese corporations by facilitating the corporations’ investment in Japan. In the first year of the operation, the Tokyo Office has already managed to produce a positive balance sheet. According to Zhang Xue-bing, subject to further careful evaluation, the Firm was also contemplating opening offices in Hong Kong and somewhere in the mid-west regions in China in 2008.
With respect to the future development in 2008, Zhang Xue-bing emphasized that increase of revenue is one but not the only goal that the firm was pursuing. The Firm would pay more attention to attracting more top lawyers, improving client services and enhancing management at the expense of slowing down a bit the pace of the Firm’s expansion.
Liu Bo-rong and Jeremy Dai also answered questions raised by ALB over the Firm’s business development in securitization and VC & PE investment.
Professionals
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Xuebing ZHANG
Equity Partner
BeijingPractices： Litigation & Arbitration,Bankruptcy, Insolvency & Reorganization,Chinese Mainland Capital MarketsIndustries： Real Estate,Urban Infrastructure,Transportation & Logistics,Tourism & Hospitality,Banking & Financial Services,Insurance -
Xuebing ZHANG
Equity Partner
Beijing
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