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Crystal Chen

Projects Partner, Hong Kong SAR

“I have a deep understanding of the business needs and risk profiles of Chinese banks and SOEs and have in-depth experience of developing and financing of overseas projects. I always look to find solutions to complex issues and to work with clients and counterparties to bring deals to satisfactory conclusions.”

Overview

Professional experience

Education and qualifications

Overview

Crystal represents export credit agencies, lenders, multilateral development agencies, project sponsors and other project participants on a wide range of cross-border project financings, and joint venture and acquisition transactions. She has particular experience of projects in the power, petrochemical and mining sectors.

Crystal focuses most of her practice in China inbound and outbound projects, advising all stated-owned commercial and policy banks and numerous engineering, equipment and construction, and power companies. In recent years, she has developed a leading position advising Chinese policy banks, commercial banks and major state-owned enterprises on their outbound projects under the Belt and Road Initiative.

Work Highlights
  • Crystal has led, or been a major adviser, on many groundbreaking project developments and project financings. These include advising:
  • a syndicate including Chinese policy and commercial banks and Pakistani local banks as the lenders on the Hubo power plant project, the first IPP in Pakistan that is majority-owned by a Chinese state-owned enterprise
  • a syndicate including Industrial and Commercial Bank of China, Bank of China, China Construction Bank, Agricultural Bank of China, Silk Road Fund and Standard Chartered Bank on the US$2.5bn financing of a clean coal-fired power plant in Hassyan, Dubai, UAE
  • IFC in its equity investment in a Cayman holding company owned by China Three Gorges Corporation, which in turn owns, constructs, develops, maintains and finances renewable energy projects in Pakistan
  • the Government of Mongolia on three of the most important projects in the country, including the Oyu Tolgoi copper-gold mine project
    United Energy on the development and Sinosure-covered financing of a wind power project in Pakistan. This was the first project achieved financial close under the “China-Pakistan Economic Corridor”
  • a syndicate of all Chinese banks on the financing of the US$5bn Fujian Refinery and Ethylene Cracker project in China, sponsored by Exxon Mobil, Saudi Aramco and Sinopec

Professional experience

Crystal co-authored “Sphere of Influence”, published in the IFLR 1000 Project Development Guide 2018/2019.

Education and qualifications

Crystal studied law at the China University of Political Science and Law, Beijing, and holds a Magister Juris (M. Jur) from the University of Oxford and master’s in law from New York University School of Law (Vanderbilt Scholar).

She speaks English and Mandarin.