When the U.S.-China trade war began, it triggered a sudden rush to rethink and diversify supply chains. Some in Hong Kong sought to deploy the ﬁrst sale rule, while others looked to strengthen their footprint in other markets in a bid to round out their Asia presence.
On Aug. 11, the Standing Committee of China’s National People’s Congress (NPC) passed a decision to implement pilot measures that will allow Hong Kong lawyers to practice in nine cities in the Greater Bay Area. Lawyers in Hong Kong and on the mainland say the measures provide more room for the professional development of Hong Kong lawyers, and facilitate the growth of legal services on the mainland.
The year 2020 will probably go down as one of the most tumultuous years in history. With the world seemingly on hold due to the COVID-19 pandemic, most activities and industries have ground to a halt. Since then, it’s been a very mixed bag of performances for M&A around the world.
Chinese investments and contracts in sub-Saharan Africa totalled $299 billion from 2005 to 2018, according to the China Investment Global Tracker, and in 2018, China said a further $60 billion would be invested into African nations. We speak to lawyers about what the hot countries and sectors are, and the challenges that Chinese companies face.
China recently unveiled a plan for the construction of the Hainan Free Trade Port, which aims to turn the island province into an open, world-class free trade port by the middle of the century. And as a series of reform measures involving customs, taxation and systems are rolled out, law firms are gearing up to service clients taking advantage of Hainan’s new status.
The global pandemic has rapidly sped up technology adoption across even typically conservative industries and users, and the disputes hearing process is no exception. While for some, this has created a steep learning curve, cost efficiencies and time saved, are among the payoffs that ensure digital disputes are likely here to stay.
COVID-19 has derailed business plans both global and domestic, and cast a long shadow of uncertainty across businesses. For offshore law firms who typically work nimbly with their colleagues across jurisdictions, the impacts have been twofold — with both their clients, and their offices to consider.
Earlier this year, Indonesian President Joko Widodo's government submitted a draft bill to the country's parliament. The omnibus law, as it is widely known, is a comprehensive bill that would regulate many provisions in various industry sectors into one law. Lawyers say that when passed, it will strengthen the economy by increasing competitiveness, creating jobs and making it to easier to do business in Indonesia.
Kyri Evagora has recently been appointed Reed Smith’s Asia-Paciﬁc managing partner. Stepping into the role at a time when COVID-19 has turned the legal industry upside down, Evagora tells ALB the ﬁrm is looking ahead, while ensuring it innovates internally to meet the current challenges.
COVID-19 has transformed homes into offices, removed commutes and turned the humble kitchen table into a place of business. The pandemic is drastically turning work culture on its head in almost every way possible.
As the pandemic drags on, redundancies as a result of COVID-19 have begun to rise in the region, with Zoom, Skype or email used at times to deliver the bad news. But employers must be careful to ensure they don’t cross the line or skip necessary steps during these extraordinary times. Lawyers around Asia weigh up the risks and considerations that ﬁrms should bear in mind.