• Duchao ZHANG

    Equity Partner / Beijing

  • Tel +86 10 5796 5268

    Email zhangduchao@zhonglun.com

  • Practices

    Bankruptcy, Insolvency & Reorganization, Litigation & Arbitration, Corporate & Commercial Crime

Biographical notes

Duchao ZHANG

Mr. Duchao Zhang specializes in dispute resolution and debt restructuring and is especially adept at dealing with complex transactions and disputes involving commercial litigation, reorganization, pre-reorganization, out-of-court restructuring, corporate control, as well as special investment opportunities. He is experienced in developing diversified and comprehensive plans that integrate litigation and non-litigation solutions catering to commercial needs of his clients.

As a bankruptcy case administrator or litigation agent, Mr. Zhang has directly overseen or participated in numerous well-known large-scale projects in China. Additionally, he has served as a legal counsel to various domestic banks such as Agricultural Bank of China, and foreign banks including BNP Paribas, UniCredit Bank Ag, and Intesa Sanpaolo Bank, as well as asset management companies (AMCs) such as China Great Wall, China Huarong (now CITIC Financial), and China Cinda; trust companies such as Bohai Trust, Guolian Trust, and Jilin Trust; and also financial leasing companies such as Bohai Leasing; internet financial companies such as CreditEase and Jinxin Network; large state-owned enterprises such as China Energy Investment Group, China National Petroleum Corporation, FAW Group, China National Machinery Industry Corporation, CRRC, and Sinotrans; local state-owned enterprises such as Shanxi Coal International Energy, Shandong Energy, and Jinchuang Investment; private-sector enterprises such as HNA Group; emerging internet enterprises including Meituan, Didi, Tidy Washing Technology, and Zhigui Technology; traditional companies like Yili Group and Tong Ren Tang Group; as well as foreign listed companies and entrepreneurs from the United States, Singapore, and other countries, in numerous litigation and arbitration, debt restructuring, or non-performing asset disposal projects, providing comprehensive legal services to his clientele.

On top of such extensive track record, Mr. Zhang also serves as a strategic partner, providing end-to-end legal support to state-owned capital such as China Great Wall Fund and Galaxy Investment, as well as professional investors like Xingfu Anji (under China Fortune Land Development) and Bohai Trust, in special situation and debt restructuring relief projects/fields, in addition to which, Mr. Zhang offers one-stop services to distressed enterprises and shareholders, ranging from scheme design to fund introduction and asset promotion.

Representative Matters

(Pre-)reorganization/debt restructuring projects involving domestic listed companies

  • Acted by appointment as the bankruptcy reorganization administrator for Sichuan Golden Summit (Group) Co., Ltd. (600678.SH)

  • Acted by appointment as the bankruptcy reorganization administrator for Yanbian Shixian Bailu Papermaking Co., Ltd. (600462.SH)

  • Acted by appointment as the special legal counsel for the investor of Peking University Founder Group, participating in overall risk management of the corporate and shareholder for Peking University Founder Group and other listed companies

  • Acted a by appointment s the legal counsel for a controlling shareholder of an A-share listed company, participating in the bankruptcy reorganization and shareholder debt restructuring work of the company

  • Acted by appointment as the legal counsel for the controlling shareholder of Poten Environment Group Co., Ltd. (603603.SH) in the bankruptcy reorganization project of the company

  • Acted by appointment as the legal counsel for the investor in the bankruptcy reorganization of listed company Shandong Oriental Ocean Sci-Tech Co., Ltd. (002086.SZ)

  • Acted by appointment as the legal advisor for the controlling shareholders of three listed companies in the manufacturing, non-ferrous metals, and financial industries in a bankruptcy reorganization project

  • Advised on the acquisition of equity shares in a new holding platform subsequent to the restructuring of the core company Kangdexin (002450.SZ)

  • Acted by appointment as the bankruptcy administrator for a cultural industry A-share listed company and provided legal advice and support on introducing investors and related matters

  • Acted by appointment as the legal advisor for business partners and financing parties in the bankruptcy reorganization and related company debt restructuring of Pangda Automobile Trade Co., Ltd. (601258.SH)

  • Acted by appointment as the legal counsel for a state-owned enterprise in the acquisition of a traditional Chinese medicine A-share listed company through debt restructuring

  • Acted by appointment as the legal counsel for an asset management company in a restructuring project, providing legal services for the acquisition of state-owned equity in Anyang Iron and Steel Co., Ltd. (600569.SH)

  • Acted by appointment as the legal counsel for a state-owned enterprise in the urgent resolution of bond default risks of a large enterprise group and related listed company debt restructuring and credit enhancement projects

  • Other mandates omitted


Bankruptcy cases involving listed companies in Hong Kong and the United States

  • Acted as the administrator for the bankruptcy reorganization project of Shandong Qunxing Paper Co., Ltd. (03868.HK) and its affiliated companies

  • Served as the administrator for the bankruptcy reorganization project of Wuxi Suntech Power Co., Ltd. (NYSE: STP)

  • Acted as legal advisor for a financial institution as the vice chairman of the financial debt committee in bankruptcy reorganization and related litigation projects of 19 enterprises, including Fengxiang Co., Ltd. (09977.HK)

  • Served as the legal counsel for the restructuring of the actual controller of a Hong Kong listed company (which is a financial holdings group in the environmental protection sector)

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

  • Acted as the legal counsel for the overall risk mitigation and compliance project of a consumer service listed company in Hong Kong and its domestic A-share listed companies

  • Represented a leading technology company in debt restructuring projects with a large international technology group and designed restructuring plans for clients

  • Other matters omitted


Projects related to large financial institutions, state-owned enterprises liquidation, and project of policy research

  • Served as the bankruptcy administrator for the bankruptcy liquidation of Xin Hua Securities Co., Ltd.

  • Acted as legal counsel for the bankruptcy liquidation projects of subsidiaries of MCC

  • Acted by appointment as special legal counsel for self-liquidation and bankruptcy liquidation projects of enterprises under State Energy Group

  • Served as legal counsel and lead author on bankruptcy risk isolation issues in AMC investment and acquisition projects for a major asset management company

  • Others matters omitted


Other insolvency restructuring projects of large domestic and foreign enterprises

  • Represented an internationally recognized chip company in its investment in the debt restructuring of a major domestic technology enterprise and the litigation arising therefrom

  • Acted as restructuring consultant for a state-owned enterprise as a shareholder and investor, providing legal services for debt restructuring and derivative litigation for BYTON

  • Provided legal services for an asset management company as a capital provider in participating in an equity acquisition project of a distressed listed steel company

  • Served as bankruptcy restructuring council for a foreign investment institution participating in the bankruptcy liquidation project of a new energy enterprise in Chongqing

  • Served as legal counsel for a real estate company and its actual controller, assisting and guiding the merger and reorganization of 19 companies including a real estate group

  • Represented investors in debt restructuring projects of a tourism development company in Shandong

  • Represented investors in debt restructuring and derivative litigation of a mining company

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

  • Represented foreign creditors in the bankruptcy liquidation project of China International Packaging Corporation

  • Represented creditors in the bankruptcy liquidation project of Wuxi Hu’an Cable

  • Provided legal services for debt restructuring projects of a steel group corporation of a central state-owned enterprise

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

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

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

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

  • Provided legal services for 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 Industry Chemical Group Co., Ltd.

  • Other bankruptcy reorganization and debt restructuring projects of large energy groups

  • Others matters omitted


Bankruptcy mergers and acquisitions and special situation projects of technology companies as well as real estate and construction enterprises

  • Served as legal counsel for an internet company’s insolvency restructuring acquisition of controlling stake in a real estate technology company

  • Acted as legal counsel for a technology insolvency restructuring project under the laws of PRC

  • Acted by appointment as legal counsel for Bohai Leasing Co., Ltd. relating to the bankruptcy restructuring and bond default of Wuyang Construction Group Co., Ltd.

  • Provided legal services for a technology company’s debt restructuring acquisition of a detergent enterprise

  • Represented Jilin Provincial Expressway Co., Ltd. in formulating bankruptcy reorganization plans and acquiring control of target companies

  • Represented Sinotrans Limited in bankruptcy liquidation and related litigation cases involving real estate

  • Acted as legal counsel for shareholders and the largest creditors of Runhe Real Estate in bankruptcy reorganization projects

Others matters omitted


Court appointment as the bankruptcy administrator in bankruptcy liquidation cases

  • Acted by appointment as the bankruptcy administrator for Beijing Zhongyang Credit Guarantee Co., Ltd.

  • Acted by appointment as the bankruptcy administrator for Beijing Marui Kangnuo Biotechnology Co., Ltd.

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

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

  • Acted by appointment as the bankruptcy administrator for Beijing Chaoan Weiye Municipal Engineering Co., Ltd.

  • Acted by appointment as the bankruptcy administrator for Beijing Zhonglian Chemeng Network Technology Service Co., Ltd.

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

  • Acted by appointment as the bankruptcy administrator for Beijing Zhenguo Drinks Co., Ltd.

  • Acted by appointment as the bankruptcy administrator for Beijing Dekerui Ad Media Co., Ltd.

  • Acted by appointment as the bankruptcy administrator for Beijing Pangu International Travel Agency Co., Ltd.

  • Acted by appointment as the bankruptcy administrator for Light Food Drinking (Beijing) Catering Management Co., Ltd.

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


Litigation and arbitration

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

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

  • Represented the headquarters of a state-owned bank in managing administrative litigation cases, including lawsuits against entities such as the China Banking Regulatory Commission

  • Represented an energy company before the Supreme People’s Court in a series of cases related to disputes arising from purchase and sale contracts with a business partner 

  • Represented a prominent financial institution in a series of cases appealing to the Supreme People’s Procuratorate concerning debt disputes

  • Represented a listed energy enterprise in a series of litigation cases before a provincial-level high court

  • Provided comprehensive legal services to a state-owned enterprise for the resolution and litigation of disputes arising from policy-based entrusted loans and other causes totaling nearly CNY 20 billion across over 20 provinces, municipalities, and directly-administered cities

  • Represented a state-owned enterprise in arbitration proceedings related to equity acquisitions and criminal reconciliation disputes with a business partner

  • Represented a state-owned policy bank in commercial lawsuits it brought against a substantially bankrupt company and its actual controller for bankruptcy creditor disputes

  • Represented a petroleum technology company in disputes over its drilling equipment purchase contract with an equipment manufacturing enterprise

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

  • Represented a Henan-based real estate company in real estate development disputes

  • Provided legal services to a state-owned enterprise for commercial crime investigations and compliance projects concerning the executives of the client

  • Represented a trust company as a creditor in a restructuring case involving a Shanxi-based energy group

  • Represented a central state-owned enterprise in a series of real estate development disputes with a real estate company

  • Represented a prominent internet company in a dispute over a technology product commissioning contract with a listed corporation

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

  • Represented a central state-owned construction group in a tender dispute related to a real estate project with a company based in Shenzhen

  • Represented a central state-owned enterprise in disputes over real estate development cooperation with a provincial real estate company

  • Represented a major Hebei-based real estate company in real estate development disputes with another real estate entity

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

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

  • Represented an investment management company in a lease contract lawsuit that the client brought against a state-owned entity

  • Represented a fund company in equity disputes and other cases involving hybrid civil and criminal proceedings

  • Represented a real estate enterprise in a series of cases involving hybrid civil and criminal proceedings

Honors and Awards

For Individual

Distinguished Lecturer, New York Institute of Finance

INSOL International Fellow, International Association of Restructuring, Insolvency & Bankruptcy Professionals

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

Ranked, Chambers Greater China Region, 2025

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

Special Recommendation in Dispute Resolution-Litigation, LEGALBAND Top Ranked Lawyers, 2025

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

Memberships & Affiliations

Member, INSOL International

Member, Bankruptcy and Liquidation Committee, Beijing Lawyers Association

New York Institute of Finance

Publications

“Debt Restructuring”, CITIC Press, December 2020

“Bankruptcy and Litigation Practice Handout”, Law Press, February 2023

“Empirical Study on Solutions to Funds Occupation and Illegal Guarantees in Listed Companies”, Law Press, May 2024

“Mineral Resources and Mineral Rights Disputes: Case Study on The Practice of Mineral Resource and Mineral Right Disputes”, Law Press, August 2020

“White Paper on Industrial Data Element Registration (2023)” (member of editorial board), China Academy of Industrial Internet, November 2023

“Effectiveness Evaluation of Compliance Management System for Small and Medium-sized Enterprises” (member of editorial board), China Association of Small and Medium Enterprises, May 2022

“Compliance Guidelines for Generative Artificial Intelligence Data Applications” (drafter), China Electronic Chamber of Commerce

  • 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