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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 dedicated to the legal practice of asset securitization since 2004, when he advised China Development Bank on its first ever onshore credit asset securitization project. Over 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 terms of wealth planning, Mr. Liu offers solutions for his clients from a global perspective, addressing concerns arising from estate planning, family governance, and family legacy. He specializes 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

From 2004, provided legal services and advised 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. These include 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

From 2006, provided legal services for over 50 sponsors in enterprise asset securitization projects, including the first domestic Commercial Mortgage Backed Securitization (CMBS) traded on the Shanghai Stock Exchange, Real Estate Investment Trust (REITS) projects, projects involving home-purchase receivables, property rents, property management fees, hotels, subsidized affordable housing, airfare billing and settlement plans, leasing assets, factoring assets, small-loan, trading receivables, and other enterprise asset securitization projects.

 

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 Beijing Zhong Lun Charity Foundation, China Global Philanthropy Institute and Shenzhen CSN Financial Services Co., Ltd. With 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 for donors under the operational principles of transparency, professionalism, internationalism and mutualization of resources. Lawyer Borong LIU is the Chairman of the China DAF Charity.

 

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 for 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 together, and turning charitable contributions into an important part of donors’ overall asset allocation strategies.

Honors and Awards

2008 - 2017: Rated “Band 1” lawyer for ten consecutive years by Chambers & Partners in Chambers Asia in the field of asset securitization in China and Asia

2018 - 2024：Ranked as “Eminent Practitioner” for seven consecutive years by Chambers and Partners in Chambers Asia-Pacific

January 7, 2017: Recognized as a “Leading Figure” in the China asset securitization industry in 2016 by Financial Times and China Asset Securitization Institute

January 20, 2018: Received the Best Individual Contribution Award in the 2nd China Asset Securitization Industry Elite Selection organized by the China Asset Securitization Institute

January 16, 2019: Received the Most Influential Person Award in the 3rd China Asset Securitization Industry Elite Selection organized by the China Asset Securitization Institute

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

Memberships & Affiliations

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

Co-Chairman of the Executive Committee of the China Securitization Forum (www.chinasecuritization.org)

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

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

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

Member of the Expert Committee of China Development Bank

Publications

Analysis of 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 (with co-authors), 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 Lawyer 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