Michelmores supports launch of YangTze Law
Michelmores LLP has announced the launch of YangTze Law − the UK's first wholly Chinese-owned law firm. YangTze Law has been set up as an Alternative Business Structure, following approval from the Solicitors Regulation Authority, to serve the needs of a new generation of mainland Chinese corporates looking to invest in the UK and Europe.
Malcolm Dickinson, Managing Partner at Michelmores, has been appointed as its CEO, and will work alongside the Chinese management team. He will continue to fulfil his role as Managing Partner at Michelmores.
The firm is the brainchild of Steve Ng, a British-educated, Hong Kong and Beijing based lawyer, who will act as co-Executive Director alongside Winston Gao, a senior partner at Jun Yan Law Firm in Shenzhen.
Malcolm Dickinson, Steve Ng and Winston Gao have worked closely on the project for the last two years, and Malcolm has spent two months of the last twelve in China. Michelmores has recently taken on several Chinese clients, spearheaded by Dickinson. He comments:
"The Chinese market is vast - many UK and international law firms have spent a lot of time and money investing in China. We see YangTze Law as a unique opportunity for Michelmores, to access the market in a different way. Chinese corporates are being pointed by their Government towards foreign direct investment, and so we feel like it is great timing to be involved in a venture like this, and support Chinese clients in navigating their way through the UK and global business landscapes.
"We are already seeing significant work opportunities arising from this innovative idea – the UK's first wholly Chinese-owned law firm. We look forward to a long and fruitful relationship with YangTze Law."
Stephen Denyer, Head of City and International for the Law Society, comments:
"I am delighted that a new type of Chinese legal service provider is coming to London and doing so in collaboration with an English law firm. This underlines the important global role of London as a legal hub and the attractiveness of our jurisdiction."
Steve Ng, who is also the Secretary General of the YangTzejiang Legal Network in China, with over 40 independent law firm members and 3,000 lawyers comments:
"YangTze Law is a Chinese law firm, for Chinese clients, backed up with the local expertise provided by Michelmores. We are very grateful to Michelmores for their support and, in particular, Malcolm Dickinson. The project would never have been launched without his vision, drive and entrepreneurship.
"There are many Chinese firms looking to invest and do business in the UK and Europe, but for whom cultural and legal differences can be a real barrier. We are hopeful that YangTze Law will help to unlock the door for a new group of Chinese investors, and we believe that its launch is great news for both the UK economy and Chinese businesses."
YangTze Law is based at 25 Southampton Buildings, London WC2A 1AL.