US firm Dechert has been granted a licence to open an office in Beijing, its first in mainland China, the firm has said in a statement.
The Beijing office will represent domestic and international companies, financial institutions, and private investors in a full range of corporate matters and transactions, cross-border M&A, and compliance and corporate governance issues. “The decision to establish on-the-ground resources in Beijing results from our assessment of our clients’ current and potential business interests in mainland China and neighbouring countries,” said Dechert chairman Barton Winokur.
Earlier this year, the firm opened its first Asian office in Hong Kong after entering into a formal association with local firm Hwang & Co, a move described as “strategically imperative” by Dechert partner and Hwang & Co managing partner Basil Hwang.
The entrance of Dechert into mainland China caps off a busy couple of months for US firms in Asia. So far this year, 10 US firms have obtained licences to open firms in China. In June, Bullivant Houser Bailey formed a strategic alliance with Lehman Lee & Xu following the entrance of Covington & Burling, Taft Stettinius & Hollister, and Weil, Gotshal & Manges.