Linklaters has unparalleled insight into China’s legal framework, having worked on more ‘firsts’ in this market than any other international firm.
In China, our integrated China team is made up of nearly 200 lawyers, half of whom speak Chinese, working across three major business centres: Beijing, Shanghai and Hong Kong. Each of our lawyers has his or her own specialisation in M&A and strategic investment both in and out of China, competition and regulatory, private equity, banking and projects, capital markets and dispute resolution.
Our China team offers a compelling combination of technical skills, market expertise, cultural awareness, linguistic capabilities and commercial judgement.
China’s legal framework remains intertwined with various aspects of the social and political environment. This is evident in the speculation around the recent establishment of a formal national security review board to monitor foreign investment in sensitive sectors. It is this framework that requires careful navigation in order to complete a transaction in China, and this is where we can help. We have worked on more ‘firsts’ in this market than any other firm –this, above all else, has given us considerable insight in to China’s legal framework
Innovation is a key part of what we do and our strong track record in product development is demonstrated by a number of landmark ‘firsts’ in China including:
- the first project financing led by a Chinese Bank in Europe - China Development Bank on its EUR350 million project financing of a 300MW mine mouth coal fired power plant in Stanari, Republic of Srpska, Bosnia and Herzegovina;
- the first ever RMB bond financing - Hopewell Highway Infrastructure Limited’s RMB bond issue;
- the first PRC offering of RMB-denominated debt securities outside Mainland China –advising Bank of China and Bank of Communications on the RMB 6 billion RMB bond issue by The Central People's Government of the People's Republic of China, acting through its Ministry of Finance;
- the first A share listed PRC bank to list outside China –China Merchants Bank;
- the first PRC commercial bank to list in Hong Kong –Bank of Communications IPO;
- the first pre-IPO convertible bond –Greentown China;
- the first concurrent A share/H share rights issue –the US$2.7 billion issue by Angang Steel;
- the first acquisition of shares in a PRC listed bank by a foreign bank −Citibank on the acquisition of a strategic interest in Shanghai Pudong Development Bank; and
- the first foreign bank investment in a new Chinese bank since 1949 −Standard Chartered Bank on its US$123 million investment in the new China Bohai Bank Ltd.
Recent significant transactions include advising:
- Industrial and Commercial Bank of China Limited on its acquisition of 80% of each of Standard Bank Argentina S.A;
- TOTAL on a world scale refining and petrochemicals complex in Guangdong province China in joint venture with Sinopec and Kuwait Petroleum;
- Pang Da Automobile Trade Co., Ltd in relation to their agreement to make an equity investment in Swedish Automobile N.V.;
- State Grid International Development Limited on its acquisition of 25% of Portugal’s state grid operators (REN) share capital for €387 million;
- Shandong Iron and Steel Group on its acquisition of a 25 per cent. stake in AML's Tonkolili iron ore mine and related rail, port and power infrastructure projects in Sierra Leone; and
- a group of 5 lenders lending on a project finance basis to Jhajjar Power Limited, the project company incorporated in India wholly owned by, CLP in respect of CLP's 1320MW power project in India.