Deals
China Lawyer Cycles His Way to Create World’s Largest Legal Firm
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Peng Xuefeng’s journey to creating the world’s largest law firm started in 1992 with bicycle rides across Beijing as he met with clients on a handful of cases.
Encouraged by China’s opening up to the world economy after three decades of insular rule under Mao Zedong, Peng said he had left a job paying less than 100 yuan ($16) a month as a government lawyer to set up Dacheng Law Offices, one of China’s first private law firms, with four partners. In the first eight months of operation, the firm generated $56,000.