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Shirley LU
Equity Partner / Shanghai
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Tel +86-21-6061-3566
Email shirleylu@zhonglun.com
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Practices

Financing, Cross-border Investment/M&A, Debt Restructuring & Non-performing Assets
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Industries

Banking & Financial Services
Shirley LU
Shirley has focused her practice on banking and finance for over 25 years, advising leading foreign and domestic financial institutions, prominent funds, multinational corporations, and listed companies, with particular expertise in cross-border financing, acquisition financing, project financing, take-private transactions, trade financing, and debt restructuring. Her work covers a broad range of industrial sectors, including energy and natural resources, real estate and infrastructure, technology, media and telecommunications, manufacturing and life sciences, and financial services.
As a trusted outside counsel to her clients on complex cross-border transactions, Shirley has provided sophisticated and tailored legal services across a wide spectrum of banking and finance matters. Over her career, she has accumulated extensive transactional experience and earned a strong reputation in this domain, and has been consistently recognized by leading legal publications and directories, including Chambers, IFLR1000, ALB, China Business Law Journal, and The Asian Lawyer.
Representative Matters
Represented HEC Technology (600732.SH) in connection with an RMB 20.6 billion syndicated acquisition loan led by China Industrial Bank for the acquisition of WinTrix DC Group from Bain Capital, the largest M&A deal in China's IDC industry to date
Represented two syndicates led by China Development Bank in providing project financing exceeding USD 2 billion to two Pakistani subsidiaries of Shanghai Electric Group for the development and construction of the Thar Coal Block-1 Integrated Coal Mine and Power Project in Pakistan under the China-Pakistan Economic Corridor framework
Represented ADIA and Hines in connection with a multi-billion RMB syndicated acquisition loan provided by CITIC Bank, Postal Savings Bank, and China Merchants Bank to their RMB fund co-invested with China Post Life Insurance for the acquisition of One Museum Place, Shanghai
Represented CNOOC and Shell Petrochemicals in connection with RMB 38.5 billion equivalent multi-currency syndicated loans for the Nansha Petrochemical Phase III ethylene and polycarbonate projects
Represented Ascendent Capital Partners in connection with: (i) a CNH 7.48 billion acquisition loan from China Industrial Bank for the take-private of Hollysys (NASDAQ: HOLI); and (ii) a cross-border acquisition loan from China Merchants Bank for the acquisition of Alutrim Group's subsidiaries in Germany, Hong Kong, and China's mainland
Represented The Blackstone Group in connection with a USD 960 million acquisition loan provided by a syndicate comprising ANZ, Barclays, and DBS for the acquisition of Interplex from Baring Private Equity Asia
Represented two syndicates jointly arranged by leading Chinese banks in connection with term loan facilities of approximately RMB 10 billion granted to INVISTA Nylon Chemicals (China) Co., Ltd. for its adiponitrile production facilities and the expansion of its Nylon 6,6 production capacity in the Shanghai Chemical Industry Park
Represented Tianqi Lithium (002466.SZ) in connection with an aggregate USD 3.5 billion syndicated loan provided by two syndicates led by China CITIC Bank for the acquisition of shares in SQM, a leading Chilean lithium producer
Represented Vivo Capital in connection with an acquisition loan of several hundred million RMB provided by Shanghai Pudong Development Bank for the onshore and offshore acquisition of Agno Pharma
Represented China Industrial Bank in providing an acquisition loan to MBK Partners for the acquisition of four ocean parks from Haichang Holdings
Represented Ascent Real Estate Investors (Carlyle) and Partners Group in connection with onshore-offshore linked financing of several billion RMB for the acquisition of Beijing Zhongguancun Dinghao Electronics Plaza
Represented Advent International and Cinven in connection with onshore SBLC facilities provided by Deutsche Bank and Standard Chartered Bank as part of the offshore acquisition financing for the acquisition of Thyssenkrupp Elevator Technology
Represented Blackstone Group in connection with: (i) acquisition and refinancing loans for VivoCity Shanghai; and (ii) loans for the acquisition of a logistics asset portfolio from Goldman Sachs across Chengdu, Wuhan, Deqing, and Zhengzhou
Represented Tishman Speyer in connection with onshore acquisition and asset financing for The Springs, Crystal Plaza, Shenzhen Houhai Harbour, Hongqiao Crystal, and Yangpu Crystal
Represented Carlyle Group in connection with USD 1.9 billion syndicated loans led by Barclays to finance the USD 3.2 billion acquisition of Atotech B.V. from Total S.A.
Represented C-Bridge Capital in connection with term loans for the development and construction of Top Life Science Cluster International Precision Medical Industrial Park in Beijing and Kangpu Life Science Industrial Park in Shanghai
Represented J.P. Morgan and New Ease in connection with onshore-offshore linked syndicated acquisition loans for the acquisition of ten logistics facilities in the PRC
Represented International Finance Corporation and DEG in providing loans of approximately RMB 1 billion to Minsheng Education Group (01569.HK) for school acquisition and renovation
Represented a syndicate arranged by Barclays Bank, BNP Paribas, Crédit Agricole Corporate and Investment Bank, Crédit Industriel et Commercial, and Natixis in providing offshore loans of over EUR 1 billion granted to Compagnie Benelux Participations for the acquisition of Gerflor
Represented a syndicate arranged by Bank of America Merrill Lynch, Barclays Bank, Deutsche Bank, Goldman Sachs, and JPMorgan Chase in connection with the debt restructuring of Travelex Group, and advised on PRC law issues arising in connection with the debt restructuring
Represented a syndicate arranged by Bank of East Asia in providing a syndicated loan of up to RMB 2 billion granted to Shenzhen Tianlian Terminal Co., Ltd., a subsidiary of Telling Telecommunication Holding Co., Ltd. (000829.SZ)
Represented a syndicate consisting of Crédit Agricole Corporate and Investment Bank and HSBC in providing a cross-border loan facility to Provident Capital and Saratoga Group for financing the telecommunication tower business of their PRC project companies
Represented GIC in connection with a loan from Industrial and Commercial Bank of China for the refinancing of Beijing AZIA Center
Represented CapitaLand in connection with cross-border financing arrangements for its sale of 20 shopping malls in the PRC to a consortium comprising SCPG, Vanke, and Triwater
Represented Apollo Fund Management in connection with onshore-offshore linked financing for the acquisition of Pullman Shanghai Skyway Grand Hotel and refinancing of its existing debt
Represented Ping An Bank in providing an RMB loan to a joint venture between Goldman Sachs and Sunjade China for the acquisition and development of warehouse and logistics facilities in Suzhou
Represented DBS Bank in providing a USD 400 million offshore loan to an offshore subsidiary of China Three Gorges Corporation
Represented Credit Suisse in connection with cross-border security arrangements under a several-hundred-million offshore loan to an offshore subsidiary of Healthcare Company Limited (603313.SH)
Represented a syndicate comprising Bank of America Merrill Lynch, Citigroup, and HSBC in connection with acquisition financing comprising a term loan and USD 275 million senior notes for the take-private of Pactera Technology International Ltd. (NASDAQ: PACT), with a transaction value of over USD 660 million
Represented a PE sponsor group comprising Carlyle, FountainVest, CITIC Capital, and China Everbright in connection with a USD 1.525 billion acquisition financing for the take-private of Focus Media (NASDAQ: FMCN)
Represented Shanghai Shendi Group in connection with an RMB 12.9 billion syndicated loan provided by China Development Bank, Bank of Communications, Shanghai Pudong Development Bank, and nine other domestic lenders for the construction and development of Shanghai International Tourism Resort (Shanghai Disneyland)
Represented China Windpower Group in connection with a syndicated loan arranged by International Finance Corporation (IFC) for the first wind farm project in the PRC to obtain long-term project financing in US dollars from a syndicate of international banks
Represented a syndicate of lenders consisting of J.P. Morgan Securities plc as arranger and HSBC as agent in connection with debt financing provided to Bain Capital for its acquisition of a non-performing asset portfolio comprising dozens of debtors held by China Cinda
Honors and Awards
For Individual
Rankings in Banking & Finance, Chambers Asia Pacific, 2013-2016, 2019-2025
Rankings in Banking & Finance, Chambers Greater China, 2022-2025
Highly Regarded, IFLR1000, 2011-2025
Lawyer of the Year-Shanghai, IFLR1000, 2025
China Top Female Lawyers, ALB, 2015
Women Leaders, IFLR1000, 2020-2025
For Deal
“HEC Technology's RMB28bn WinTriX acquisition”, Deals of the Year, China Business Law Journal, 2025
“CSPC Phase III Ethylene Project and Polycarbonate Project financing”, Best Funding Solution of the Year, Adam Smith Awards Asia, 2024
“Financing for Blackstone's Acquisition of Interplex”, Finance Deal of the Year, Asia Legal Awards, 2023
“INVISTA Project Financing”, Deal of the Year (Shanghai) IFLR1000 China
“Financing for Tianqi Lithium's Acquisition of SQM”, Finance Deal of the Year: Acquisitions, The Asian Lawyer & Deals of the Year, China Business Law Journal, 2019
“Ascent Real Estate Investors / Sigma Delta Investment Partners Financing for Acquisition of Zhongguancun Dinghao Electronics Building”, Deal of the Year: Banking and Finance, IFLR1000 China, 2020 & Provincial Impact Deal of the Year (Beijing), IFLR1000 China, 2020
“Focus Media Privatization”, Deals of the Year, China Business Law Journal, 2013 & Deal of the Year, Asian-Mena Counsel, 2013
“Acquisition of Atotech by Carlyle Group”, Creative Financial Case in Shanghai Free Trade Zone of the Year, PBOC Shanghai Head Office, 2017
“Shanghai Disneyland Project” Project Finance Deal of the Year, Asia Legal Business (ALB), 2013 & the Best Syndicated Loan Project, Shanghai Banking Association, 2013
“Gansu Guazhou Wind Power Project”, Project Finance Deal of the Year, China Law & Practice, 2011
Memberships & Affiliations
Member, Administrative Reconsideration Committee (the First, Second, and Third Terms), Shanghai Pudong New Area People's Government
Related
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Deals Related
Zhong Lun Advises Ascendent on Privatizing Hollysys
Zhong Lun Law Firm acted as the PRC legal counsel to Ascendent Capital throughout this transaction since August 2021.
2024-07-26 -
Awards Related
Zhong Lun Recognized in 19 Practice Areas with 89 Lawyer Rankings in the Chambers Global Guide 2026
On February 12, 2026, the internationally renowned legal directory Chambers & Partners released the Chambers Global Guide 2026. Zhong Lun Law Firm garners accolades in 19 practice areas, with 15 practice areas placed in Band 1. A total of 76 lawyers received among them 89 individual rankings in the guide.
2026-04-16
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Bar Admissions/Professional Qualifications
PRC Bar, 1993
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Education
EMBA, CEIBS, 2013
LL.B., East China University of Political Science and Law, 1992 -
Professional Experience
Partner, Zhong Lun Law Firm
Partner, Horizon Law Office -
Languages
Chinese
English