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  • Borong LIU

    Equity Partner / Beijing

  • Tel +86-10-5957-2288

    Email liuborong@zhonglun.com

  • Practices

    Financial Products & Trusts, Taxation & Wealth Planning, Compliance & Investigation

  • Industries

    Banking & Financial Services

CV

Borong LIU

In the field of financial products and trusts, Mr. Liu has been focusing his practice on the legal matters relating to asset securitization since 2004 when he advised China Development Bank on its first ever onshore credit asset securitization project. Over the following nearly two decades, he has developed unrivaled knowledge and experience in asset securitization and structured finance. Since 2006, Mr. Liu has actively led the China Securitization Forum, promoting close collaboration and open dialogue among participants in the asset securitization market at home and around the world.

In wealth planning, Mr. Liu offers solutions for his clients devised from a global perspective, addressing concerns arising from estate planning, family governance, and family legacy. He is astute in developing strategic philanthropy and utilizing charitable accounts, also known as donor advised funds, to provide flexible and comprehensive solutions for his clients. These include complex gifts to charities, charitable fundraising strategies, and financial and legal tools and structures for corporate social responsibility (CSR) programs, social ventures, and impact investments.

With respect to compliance and investigation, Mr. Liu focuses on the holistic design of individual compliance and corporate compliance from a broad-based perspective. He is adept at integrating both business compliance and charity compliance programs on a mission-oriented basis to lay the legal foundation for his clients to make a lasting impact.

Mr. Liu views the practice of law as a great privilege and his role as a steward, always putting the interests of his clients first.

Representative Matters

Credit Asset Securitization Projects

Advised since 2004 on the design of transaction structures and financial products for over 100 financial institutions, such as China Development Bank, in credit asset securitization projects with various underlying assets, covering collateralized loan obligations (CLO), residential mortgage-backed securitization (RMBS), commercial mortgage-backed securitization (CMBS), auto loan securitization (Auto Loan), credit card receivables securitization (Credit Card), non-performing loan (NPL), financial leasing assets, among others.

 

Enterprise Asset Securitization Projects

Provided legal services since 2006 to over 50 sponsors for their enterprise asset securitization projects, including the first domestic commercial mortgage-backed securitization (CMBS) traded on the Shanghai Stock Exchange, quasi-real estate investment trust (REIT) projects, and asset securitization projects involving home-purchase receivables, property rents, property management fees, hotels, subsidized affordable housing, airfare billing and settlement plans, leasing assets, factoring assets, small loans, trading receivables, and other enterprise assets.

 

China Securitization Forum Annual Conferences

Organized Annual Conferences of the China Securitization Forum (www.securitization.com.cn), the largest annual securitization conference held in China


Pro Bono and Philanthropy

Led the efforts to establish the China DAF Charity (www.DAF-charity.org.cn) on June 21, 2018, drawing on the overseas donor advised fund model with charitable accounts comparable to virtual charitable foundations. The three co-founding parties are Zhong Lun Charity Foundation, China Global Philanthropy Institute, and Shenzhen CSN Financial Services Co., Ltd. Guided by the strategic goal of "enduring philanthropy, unfading legacy", the mission of "helping donors with their charitable legacies", the vision of "connecting donors with lasting impact", the values of "accountability, professionalism, innovation, and sharing", and the main business focus on "serving the donors" with the "spirit of stewardship", the China DAF Charity provides contribution, investment, and grant-making services in a streamlined and systemized fashion to donors under the operational principles of transparency, professionalism, internationalism, and mutualization of resources. 

 

In the China DAF Charity, professionals such as lawyers, certified public accountants, tax advisors, asset appraisal experts, and notaries are appointed as donor qualification examiners, charitable account supervisors or philanthropic expert consultants. The China DAF Charity assists professionals in providing charitable services online to their clients, as well as managing, improving, maintaining, and enhancing client relationships through charitable tools, developing a professional service platform for professionals to support public welfare causes, and developing charitable contributions into an important part of donors' overall asset allocation strategies.

Honors and Awards

Band 1 in the field of asset securitization in China and Asia, Chambers & Partners, 2008-2017

Eminent Practitioner, Chambers Asia-Pacific, 2018 - 2024

Leading Figure in the China asset securitization industry, Financial Times and China Asset Securitization Institute, January 7, 2017

Best Individual Contribution Award, the 2nd China Asset Securitization Industry Elite Selection, China Asset Securitization Institute, January 20, 2018

Most Influential Person Award, the 3rd China Asset Securitization Industry Elite Selection, China Asset Securitization Institute, January 16, 2019

Most Influential Expert Award, the 4th China Asset Securitization Industry Elite Selection, China Asset Securitization Institute, December 21, 2019

Memberships & Affiliations

Chairman of the Board of Directors, China DAF (Donor Advised Fund) Charity (www.DAF-charity.org.cn)

Co-chairman, Executive Committee, China Securitization Forum (www.chinasecuritization.org)

External Appraisal Expert for Asset Securitization Business, Shanghai and Shenzhen Stock Exchanges

Filing Appraisal Expert, China Credit Assets Registry & Exchange Co., Ltd.

Former Distinguished Professor, the China Capital Markets Institution (www.ccmi.edu.cn)

Former Member, Expert Committee, China Development Bank

Publications

“Analysis on Major Legal Issues Surrounding First Real Estate Investment Trusts (REITs) in China”, Peking University Publishing House, November 2010, awarded “Outstanding Treatise” at the 2nd Beijing Lawyers Forum

“Asset Securitization - Basic Theory and Feasible Models, China Law Press”, December 2002, awarded “Outstanding Treatise” at the 1st Beijing Lawyers Forum

“Bank Credit Asset Securitization”, China Financial Publishing House, September 2000

“Annotated Securities Practice Guide for PRC Lawyers” (co-author), China Law Press, December 2004

“A Bold Attempt at Non-Performing Loans Securitization: A Case Study of the Special Purpose Trust in the Non-Performing Loans Disposal Transaction of China Huarong Asset Management Corporation”, Financial News, 2004

“The theory and Practice of Asset Securitization”, China Financial Publishing House, December 2022

“Family Philanthropy Guide in China, Beijing Times Chinese Press”, August 2021

Related

  • Bar Admissions/Professional Qualifications

    Securities Practice Qualification, 1993
    PRC Bar, 1992
    PRC Patent Agent Qualification, 1992

  • Education

    Legal studies at University of London, 1998-1999
    M.A. in International Finance, Renmin University, 1995-1998
    LL.B., China University of Political Science and Law, 1991-1993
    B.S. in Engineering, North China Electric Power University, 1986-1990

  • Professional Experience

    Partner, Zhong Lun Law Firm, January 2004 to present
    Partner, Global Law Office, February 2000 January 2004

  • Languages

    Chinese
    English