ENG

CV

Duchao ZHANG

As an expert in enterprise crisis management, Mr. Zhang has led or participated in numerous prominent large-scale projects in China, serving in various roles such as litigation/arbitration counsel, legal advisor, or bankruptcy administrator. He has acted as legal counsel for domestic banks including Agricultural Bank of China and Export-Import Bank of China; foreign banks including BNP PARIBAS, UniCredit Bank, and Intesa Sanpaolo; asset management companies (AMCs) including China Great Wall Asset Management, China Huarong Asset Management (now China CITIC Financial Asset Management Co., Ltd.), China Cinda Asset Management, and China Resources Asset Management; trust companies including Bohai Trust, Guolian Trust, and Jilin Trust; financial leasing companies such as Bohai Leasing; internet finance firms including CreditEase and Jinxin.com ; large central enterprises including China Energy Investment Corporation (CHN Energy) , CNPC, FAW Group Corporation , SAIC Motor, Sinomach, CRRC Corporation Limited , Sinotrans, and China Resources Group; local state-owned enterprises including Shanxi Coal Import & Export Group, Shandong Energy, and Jinchuang Group; private enterprises such as HNA Group; emerging internet companies including Meituan , Didi, Tidy Technology, Zhigui Technology, and Super Monkey; traditional companies such as Yili Group and Tongrentang; as well as foreign-listed companies/entrepreneurs from the United States, Singapore, and other countries, providing comprehensive legal services across numerous litigation/arbitration, debt restructuring, equity/control rights disputes, and NPL disposal projects.

Additionally, Mr. Zhang serves as a strategic partner or permanent legal counsel, providing full-process support in special opportunity investments and debt restructuring bailout projects/areas for state-owned capital including CINDA REAL ESTATE, Great Wall Fund, and China Galaxy Investment, as well as professional investors including Xingfu Anji and Bohai Trust. He also provides one-stop services for distressed companies and their shareholders, from scheme design to capital introduction and asset promotion.

Representative Matters

Listed Companies (Domestic A-Share) – (Pre-)Bankruptcy Reorganization / Debt Restructuring

  • Acted as a member of the liquidation group and provisional administrator for Dongfang Fashion (603377.SH), providing legal services for overall risk resolution

  • Acted as legal counsel to the controlling shareholder of Botian Environment (603603.SH) in its bankruptcy reorganization

  • Acted as bankruptcy administrator for Sichuan Jinding (600678.SH)

  • Acted as bankruptcy administrator for Shixian Paper (600462.SH)

  • Acted as bankruptcy administrator for Jinyi Culture (002721.SZ) and provided legal opinions and support regarding investor introduction

  • Acted as legal counsel to the controlling shareholder of Caissa Tourism (000796.SZ) in its bankruptcy reorganization and shareholder debt restructuring

  • Acted as restructuring legal counsel to the controlling shareholders of three listed companies in the manufacturing, non-ferrous metal, and financial sectors

  • Acted as legal counsel to a state-owned enterprise, devising a novel debt restructuring scheme for the acquisition of renowned traditional Chinese medicine brand Guangyuyuan (600711.SH)

  • Acted as legal counsel to the ultimate controller of a large listed company, coordinating debt restructuring across multiple domestic and overseas listed companies for bailout and debt resolution

  • Acted as legal counsel to the industrial investor in Bubugao (002251.SZ) bankruptcy reorganization, facilitating special opportunity industrial investment

  • Acted as legal counsel to a consortium of investment institutions in the Jinke Properties (300656.SZ) reorganization project, including establishing investment platforms

  • Acted as legal counsel to the restructuring investor in Tianbang Group (002124.SZ) bankruptcy reorganization

  • Acted as special legal counsel to Peking University Assets, a shareholder of Founder Group, participating in the overall risk disposal at both the listed company and shareholder levels

  • Acted as legal counsel to a strategic investor in the risk disposal of an A-share listed company, handling matters including financial fraud, delisting risk, and board restructuring

  • Acted as special legal counsel to a strategic investor in the bankruptcy reorganization and substantive consolidation delisting investment of Orient Group (600811.SH)

  • Acted as legal counsel to the restructuring investor in Huawen Media (000793.SZ) bankruptcy reorganization

  • Provided legal advisory services regarding the acquisition of shares in the creditor platform for a newly established entity post-reorganization of a key subsidiary of Kangdexin (002450.SZ)

  • Acted as legal counsel to a partner and financier in the Pangda Automobile (601258.SH) bankruptcy reorganization and related company debt restructuring

  • Acted as legal counsel to the restructuring investor in Dongfang Ocean (002086.SZ) bankruptcy reorganization

  • Acted as legal counsel to the restructuring investor in Xinhualian (000620.SZ) bankruptcy reorganization

  • Represented a financial institution as a restructuring investor in the pre-bankruptcy and bankruptcy proceedings of *ST Youshu (300209.SZ)

  • Acted as legal counsel to an institutional investor in the pre-bankruptcy and bankruptcy reorganization of Sansheng Shares (002742.SZ)

  • Acted as legal counsel to a financial institution in the bankruptcy reorganization investment of Zhongli Group (002309.SZ)

  • Acted as legal counsel to the restructuring investor in Mingjiahui (300506.SZ) bankruptcy reorganization

  • Acted as restructuring advisor to an asset management company in the state-owned equity acquisition project of Anyang Iron & Steel (600569.SH)

  • Represented a restructuring investor in the bankruptcy reorganization investment of Jingang Glass (300093.SZ)

  • Acted as legal counsel to the investor in the bankruptcy reorganization of Geo-Jade (600759.SH)

  • Acted as legal counsel to a state-owned enterprise for the emergency resolution of bond default risk involving a large enterprise group, including debt restructuring and credit enhancement for affiliated listed companies

 

Listed Companies (Hong Kong, US, etc.) – Bankruptcy / Debt Restructuring

  • Acted as bankruptcy administrator for Suntech Power (NYSE: STP)

  • Acted as bankruptcy administrator for Qunxing Paper (03868.HK) and its affiliates

  • Acted as special legal counsel to the Vice-Chairman Financial Institution of the creditor committee in the bankruptcy reorganization of 19 enterprises including the controlling shareholder of Fengxiang Shares (09977.HK) and related derivative litigation

  • Acted as restructuring legal counsel to the ultimate controller of a Hong Kong-listed company (financial holding group and environmental enterprise)

  • Provided legal services for the debt restructuring project of a Hong Kong-listed energy company

  • Acted as legal counsel to a Hong Kong-listed consumer company and its domestic A-share listed company for overall risk resolution and compliance

  • Acted as legal counsel to a Hong Kong-listed company, providing legal opinions on domestic bankruptcy reorganization issues related to its domestic affiliates

 

Large Financial Institutions, Central Enterprises – Liquidation & Policy Research Projects

  • Acted as bankruptcy administrator for Xinhua Securities Co., Ltd.

  • Acted as legal counsel to the trusteeship working group of a trust company regarding the liquidation of a provincial financial leasing company

  • Acted as special legal counsel to China Energy Investment Corporation for voluntary liquidation and bankruptcy liquidation projects of its subsidiaries

  • Acted as special legal counsel to a new energy vehicle subsidiary of a large state-owned automotive group regarding internal trusteeship and related liquidation projects of an affiliated technology company

  • Acted as legal counsel for the bankruptcy liquidation project of a subsidiary of China Metallurgical Group Corporation

  • Acted as legal counsel and lead drafter to one of the Big Four AMCs for a research project on bankruptcy risk segregation in AMC investment and M&A

 

Well-known Enterprises (Non-Listed, Domestic & International) – Debt Restructuring

  • Represented a leading international chip company, providing legal services in connection with the debt restructuring and related derivative litigation involving a large domestic technology enterprise in which it had invested

  • Acted as legal counsel to JIDU Auto, advising on out-of-court debt restructuring and bankruptcy reorganization matters

  • Acted as restructuring advisor to a central enterprise in its capacity as shareholder and investor, advising on the debt restructuring and derivative litigation involving Byton New Energy Automobile Co., Ltd. (BYTON)

  • Represented a leading technology company in a debt restructuring project with a major international technology group and was responsible for designing the restructuring plan

  • Provided legal services to an asset management company acting as fund provider in connection with the equity acquisition of a distressed listed steel enterprise

  • Represented the ultimate controller of a well-known private environmental protection enterprise in Hunan, designing a debt restructuring plan for its environmental company and core subsidiaries, and providing related legal services

  • Represented a major secured creditor in the substantive consolidation bankruptcy reorganization of a Beijing-based real estate enterprise, providing full-process legal services in supervision and rights protection

  • Acted as bankruptcy restructuring advisor to an overseas investment institution in connection with the bankruptcy liquidation of a Chongqing-based new energy enterprise

  • Acted as legal counsel to a strategic investor participating in the debt restructuring project of a provincial railway transportation infrastructure company

  • Acted as legal counsel to a real estate company and its ultimate controller, assisting and guiding the administrator in successfully completing the consolidated reorganization of 19 enterprises, including the real estate group

  • Represented the ultimate controller of Super Monkey in reaching a preventive bailout and restructuring arrangement with shareholders holding repurchase rights

  • Represented the largest creditor in the bankruptcy liquidation case of Chazu Yinxiang Tea Industry Co., Ltd., a case accepted under elevated jurisdiction by the Zhuzhou Intermediate People’s Court

  • Acted as legal counsel to a central enterprise in the consolidated reorganization of 27 entities, including Qixing Group and its affiliates, and engaged in negotiations with a major AMC regarding debt assignment matters

  • Represented an investor in the debt restructuring project of a tourism development company in Shandong Province

  • Represented an investor in the debt restructuring and related derivative litigation involving a mining company

  • Represented creditors in the bankruptcy liquidation project of Yicheng Iron and Steel Co., Ltd of Jiugang Group

  • Represented overseas creditors in the bankruptcy liquidation project of China International Packaging Company

  • Represented creditors in the bankruptcy liquidation project of Wuxi Hu’an Cable Co., Ltd.

  • Provided legal services for the debt restructuring project of a central enterprise steel group

  • Provided legal services for the bankruptcy reorganization project of Haixin Iron and Steel Group Co., Ltd.

  • Provided legal services for the bankruptcy reorganization project of Haiwei Iron and Steel Group Co., Ltd.

  • Provided legal services for the bankruptcy reorganization project of Shanxi Liansheng Energy Co., Ltd.

  • Provided legal services for the debt restructuring of Shandong Changxing Wind Power Group Co., Ltd.

  • Provided legal services for the bankruptcy reorganization of Tongliao Changxing Wind Power Co., Ltd.

  • Provided legal services for the restructuring project of Zouping Xinxing New Energy Development Co., Ltd.

  • Provided legal services for the restructuring project of Jiangsu Luling Chemical Industry Group Co., Ltd.

 

Real Estate/Tech Enterprises – Bankruptcy M&A & Special Opportunity Investments

  • Acted as legal counsel to a mega real estate enterprise in China for its multi-trillion RMB debt resolution, risk prevention and control, and domestic/overseas bankruptcy reorganization project

  • Acted as legal counsel to a financial institution as strategic investor in the substantive consolidation bankruptcy reorganization investment project involving Sanya Mangrove Hotel and other enterprises in Hainan

  • Acted as legal counsel to a financial institution as industrial investor in the bailout substantive reorganization project of the Shanghai Hongqiao Hub

  • Acted as legal counsel to an internet enterprise in its debt restructuring-style acquisition of controlling interest in a real estate technology company

  • Acted as legal counsel under PRC law for a technology debt restructuring project

  • Acted as legal counsel to Bohai Financial Leasing in the bankruptcy reorganization and bond default project involving Wuyang Construction Group

  • Represented a technology enterprise, providing legal services for its debt restructuring-style acquisition of a laundry enterprise

  • Represented Jilin Expressway in formulating a bankruptcy reorganization plan to acquire control of a target company

  • Represented Sinotrans in a real estate bankruptcy liquidation and related litigation matters

  • Acted as legal counsel to shareholders and the largest creditor in the Runhe Real Estate bankruptcy reorganization project

 

Court-Appointed Bankruptcy Administrator – Liquidation Cases

  • Acted as bankruptcy administrator for Zhongyang Credit Guarantee Co., Ltd.

  • Acted as bankruptcy administrator for Beijing Manrui Kangnuo Biotechnology Co., Ltd.

  • Acted as bankruptcy administrator for Beijing Desi Ruichi Pharmaceutical Technology Co., Ltd.

  • Acted as bankruptcy administrator for Beijing Haoyang Dongfang Technology Development Co., Ltd.

  • Acted as bankruptcy administrator for Beijing Jiuding Communication Equipment Co., Ltd.

  • Acted as bankruptcy administrator for Beijing Chao’an Weiye Municipal Engineering Co., Ltd.

  • Acted as bankruptcy administrator for Beijing Zhonglian Chemeng Network Technology Services Co., Ltd.

  • Acted as bankruptcy administrator for Beijing Kaku Century Animation Culture Co., Ltd.

  • Acted as bankruptcy administrator for Beijing Zhenguo Beverage Co., Ltd.

  • Acted as bankruptcy administrator for Beijing Dekorui Advertising Media Co., Ltd.

  • Acted as bankruptcy administrator for Beijing Pangu International Travel Service Co., Ltd.

  • Acted as bankruptcy administrator for Qingshi Manyin (Beijing) Catering Management Co., Ltd.

  • Acted as bankruptcy administrator for Beijing Shengda Baoye Materials Co., Ltd.

 

Litigation & Arbitration – Representative Matters

  • Represented a Hebei hospital in a retrial case before the Supreme People’s Court against a construction company

  • Represented a real estate company in an appeal before the Supreme People’s Court concerning a property rights protection dispute with an enterprise

  • Represented an energy company in a series of cases before the Supreme People’s Court, including a sales contract dispute with a partner

  • Represented a major state-owned bank in an administrative lawsuit filed by an investor against the China Banking Regulatory Commission and other entities

  • Represented a state-owned policy bank in a procuratorial protest case concerning a financial loan dispute submitted to the Supreme People’s Procuratorate

  • Represented a listed energy company in a series of litigation cases before a provincial High People’s Court

  • Provided comprehensive collection and litigation legal services for a state-owned enterprise regarding a series of disputes totaling nearly RMB 20 billion spread across over 20 provinces and municipalities, arising from policy-based entrusted loans

  • Represented a listed company in responding to a series of lawsuits concerning the confirmation of bankruptcy common benefit claims

  • Represented an investment fund in an arbitration case regarding share repurchase disputes with an invested enterprise

  • Represented a listed company in responding to a series of lawsuits concerning pre-contractual liability brought by a restructuring investor

  • Represented a leading enterprise in the embodied AI niche sector in handling a series of litigation cases related to control rights disputes (including information rights, dissenting shareholder repurchase, director/supervisor/officer liability, etc.)

  • Represented a state-owned enterprise in an arbitration case involving equity acquisition and criminal compromise disputes with a partner

  • Represented a state-owned policy bank in a series of commercial cases regarding bankruptcy creditor’s rights disputes against a substantively consolidated bankrupt enterprise and its ultimate controller

  • Represented an oil technology company in a dispute over a drilling equipment procurement contract with a manufacturing enterprise

  • Represented a Korean enterprise in a technology contract dispute with a Chinese technology company

  • Represented a Henan real estate company in a dispute over a cooperative real estate development agreement

  • Represented a state-owned enterprise, providing legal services for an executive commercial crime and investigation compliance project

  • Represented a trust company in participating in the reorganization of a Shanxi energy group as a creditor

  • Represented a central enterprise in a series of disputes over cooperative real estate development with a real estate company

  • Represented a well-known internet company in a dispute over a contract for custom-developed technology products with a listed company

  • Represented the Zhejiang branch of a state-owned bank in a dispute over cooperative real estate development with a real estate enterprise

  • Represented a central enterprise construction group in a bidding dispute concerning a Shenzhen real estate project

  • Represented a central enterprise in a dispute over cooperative real estate development with a provincial real estate company

  • Represented a large Hebei real estate company in a dispute over cooperative real estate development with another real estate company

  • Represented a subsidiary of a central enterprise in a series of disputes over targeted real estate development with a real estate company

  • Represented an Inner Mongolia energy company in a loan contract dispute with an exploration company

  • Represented an investment management company in suing a state-owned entity over a lease contract dispute

  • Represented a fund company in a series of cases involving interplay between civil and criminal matters, including equity disputes

  • Represented a real estate enterprise in a series of cases involving interplay between civil and criminal matters

Honors and Awards

For Individual

Recommended Lawyer in Restructuring/Insolvency, Chambers Greater China Region Guide, 2025-2026

Special Recommendation in Dispute Resolution-Litigation, LEGALBAND

Finalist for Young Lawyer of the Year, ALB China Law Awards, 2025

Specially Recommended Lawyer in Restructuring/Insolvency, The Legal 500 Asia Pacific-Greater China, 2026

China Top 30 Lawyers, LEGALBAND BOB (Best of the Best)

Top 15 in Bankruptcy Reorganization, Clients’ Trusted Lawyers (Blue Ribbon), LegalOne

For Deal

Top 10 guiding bankruptcy reorganization and liquidation cases, Supreme People's Court of China

Top 10 guiding commercial cases issued, Supreme People's Court of China

Typical Case for Rule of Law Business Environment by a provincial high court

Memberships & Affiliations

Director of Training Committee, Beijing Association of Insolvency Administrators

Member, Bankruptcy and Liquidation Committee, Beijing Lawyers Association

Distinguished Lecturer, New York Institute of Finance

Recommended Expert in Restructuring/Insolvency (Greater China), Global Law Experts

Member, INSOL International

Guest Columnist, Caixin

Publications

Publications & Academic Works

“Debt Restructuring”, CITIC Press

“Bankruptcy and Litigation Practice Handout”, Law Press · China

“Empirical Study on Solutions to Funds Occupation and Illegal Guarantees in Listed Companies”, Law Press · China

“Mineral Resources and Mineral Rights Disputes: Case Study on The Practice of Mineral Resource and Mineral Right Disputes”, Law Press·China

Industry Standards Development

White Paper on Industrial Data Element Registration (member of editorial board)

Compliance Guidelines for the Full Process of Real World Assets (RWA) Projects (Drafter)

Group Standard: Cross-Border Data Compliance Guidelines (Drafter)

Effectiveness Evaluation of Compliance Management System for Small and Medium-sized Enterprises (member of editorial board)

Compliance Guidelines for Generative Artificial Intelligence Data Applications (drafter)

Related

  • Bar Admissions/Professional Qualifications

    PRC Bar

  • Education

    LL.M., Jilin University School of law
    LL.B., Jilin University School of law

  • Professional Experience

    Partner, non-equity partner, and associate, Zhong Lun Law Firm, 2021 to present
    Associate, King & Wood Mallesons, 2011-2021

  • Languages

    Chinese
    English