China Business Law Journal – May 2025

Betting on a bounce

Fortune favours the bold. In times of uncertainty, those who act with foresight and conviction often find themselves ahead of the curve. As China’s capital markets enter a new phase of transformation, companies are faced with both renewed opportunities and nuanced challenges. The cover story of this issue, Market revival?, takes a sharp look at the dichotomy that has emerged in recent months: on one hand, Hong Kong’s IPO market is showing signs of full-on revitalisation, driven by a wave of tech and consumer sector listings; on the other, the A-share market remains subdued, weighed down by cautious investor sentiment and shifting regulatory priorities.

This divergence poses strategic questions for capital-hungry companies. What’s driving the resurgence in Hong Kong? Are regulatory reforms finally bearing fruit, or is the city’s international positioning offering a different kind of appeal to issuers? Meanwhile, how should companies approach the quieter mainland market – wait for the tides to turn, or explore alternative financing options?

As listing frameworks evolve and market sentiment rebounds, companies that move swiftly have a rare opportunity to get ahead in a shifting landscape. Through interviews with leading capital markets lawyers and analysis of transactional data, we unpack the underlying forces shaping these contrasting narratives.

Complementing our market analysis is a feature series, New beats in compliance, where capital markets experts dissect the latest regulatory and compliance developments. These practitioner-written articles address new filing regimes, cross-border disclosure obligations, and the impact of corporate governance considerations. For GCs and decision-makers alike, the pieces serve as both a legal update and a strategic guide.

Shifting from market mechanics to professional growth, From expertise to excellence features insights from Richard Tian, Skechers China’s legal director, who shares a personal and practical perspective on the evolving role of in-house counsel. From upholding legal and compliance standards to avoiding detrimental mindsets, the author outlines a compelling roadmap for up-and-coming in-house counsel seeking to elevate their impact within their organisations.

Time, as every lawyer knows, is the most elusive resource. In The best of time, we speak to some of the most in-demand legal professionals in the country to uncover how they manage their calendars, keep learning, and still carve out time for family and personal development. Their stories show that time management is not just a skill – it’s an art.

Rounding out this issue is our annual CBLJ In-house Counsel Awards, a celebration of legal excellence across industries. This year’s honourees represent the very best in strategic thinking, compliance innovation and leadership. From manufacturing to fintech, our awardees exemplify the evolving role of in-house counsel as business enablers and risk navigators. Let’s congratulate all the winners and commend their outstanding contributions to the legal and business realms in China.