Baker & McKenzie, FenXun Win Approval for Shanghai Law VentureAndrea Tan
Baker & McKenzie, the world’s largest law firm by revenue, and Beijing-based FenXun Partners won approval for the first joint office in the Shanghai free trade zone that will advise clients on both international and Chinese law.
The office was licensed today and will serve as an example for the development of China’s legal services industry, the Shanghai justice bureau said in a statement Tuesday.
China created the Shanghai zone for simplified customs clearance in September 2013 and has announced plans for at least three more free-trade zones in Guangdong and Fujian provinces and Tianjin city. The country is modernizing and becoming more of a player in the global market, said Eduardo Leite, Chairman of Baker & McKenzie’s executive committee.
“We expect China’s legal system and the rule of law will likewise continue to evolve in a positive way,” he said.
The tie-up follows the creation of the world’s largest law firm by number of lawyers with the agreement in January of Beijing’s Dacheng Law Offices and Dentons to combine.