China Business Law Journal – February 2024

Constant change

As the seasons shift, a constant theme in human society akin to nature is change. Throughout history, no country can stand at the top of the world forever, and no country will ever remain untouched by the winds of change.

China’s robust economy, which has witnessed remarkable expansion over the years, now faces the task of steering shifting global trade. After decades of upholding globalisation, the intricate web of complexities woven within China’s economic fabric is beginning to unravel, giving rise to a series of fresh reconstructions.

China continues to assert itself as a major player on the global stage, but balancing its international ambitions with the expectations and interests of other nations is proving to be a delicate task. Legal teams now confront competitive markets across the globe, a regulatory environment in constant flux, and ongoing technological advancements.

However, challenges also bring forth opportunities for legal professionals to adapt and evolve, as long as they remain agile, proactive and well-informed. In our cover story, Peer Power, five in-house counsel leaders from different sectors discuss their agendas for team-building, their expectations and fears, and their strategies for staying ahead in the business.

The legal industry is being forged anew, with an ongoing technological revolution forever altering the landscape. In Brain Trust: adjudicating private fund e-contracts, Zhang Guoming, chief risk officer at CITIC Securities, and Sun Jian and Kong Weilu, vice president and senior associate, respectively, at the company’s legal department, are looking for clear answers on validity issues and trial rules that adjudicators can follow, as electronic contracts progressively become prevalent in private fund transaction.

Shifting focus to the cyclical race of arbitration, the rivalry between Hong Kong and Singapore takes centre stage. Rising to the challenge, an interview with Joanne Lau, the new secretary-general of the Hong Kong International Arbitration Centre, reveals she is keen to play down any winner-takes-all comparisons, and is setting out her plans to ensure Hong Kong’s future as a dispute resolution hub.

Long-term development depends on a succession of talented individuals, regardless of the field. Amidst the hallowed corridors of law firms and courtrooms, the Rising Stars of legal professionals emerge, armed with new tools and perspectives. These bright and fresh minds, fuelled by a passion for progress, overcome the constantly shifting sands of the legal landscape, challenge conventions, and redefine the boundaries of their craft.

Therefore, in our upgraded “A-List”, we have maintained the Rising Stars category, selecting 100 lawyers aged 40 or below who practise PRC law, and 20 lawyers from foreign law firms or working overseas. As we applaud the winners, we anticipate a new era where efficiency, transparency and fairness intertwine with their pioneering research and unwavering dedication.