12 ASIAN LEGAL BUSINESS CHINA • 亚洲法律杂志-中国版 AUGUST 2023 In the face of intense competition, both domestically and internationally, and complications within the partnership structure, Chinese companies face significant obstacles when it comes to achieving rapid growth. ALB highlights the top 15 companies that have overcome these challenges and achieved growth through improved service quality and efficiency, as well as by exploring new opportunities. RANKING BY ASIAN LEGAL BUSINESS, TEXT BY VICTOR WU 日趋激烈的行业竞争，跌宕起伏的内外局势，合伙制下的管理难题，中国律所在这样的背景下取得快速成长实属 不易。ALB再次聚焦十五佳成长律所如何逆风前行、提质增效、开辟新机。 排名：《亚洲法律杂志》，作者：吴嘉林 In June 2023, Chinese Ministry of Justice released the ‘Statistical Analysis of Lawyers and Grassroots Legal Services in 2022,’ which showed that at the end of last year, there were more than 651,600 practicing lawyers in China, 76,800 more than the previous year, an increase of over 13 percent; and China is home to more than 38,600 law firms, including more than 2,100 new entrants. Specifically, a total of 500 firms now have at least 100 lawyers, an increase of over 20 percent. Although the legal services industry was not spared the substantial impact last year given growing uncertainties of the domestic and international environment and slowing economic growth, the data above show that China’s legal services industry has managed to maintain its rapid growth seen in recent years, and that the market is still large enough to be explored and developed by Chinese firms. In this ranking, we are highlighting those firms that have managed to overcome difficulties, stand out from competition and become industry leaders. The list of “15 Fastest Growing Firms” in China is based on indicators such as increases in the number of fee-earners, new key partners, new offices, new key clients, new practice areas and revenue. Those 15 firms have not only delivered outstanding report cards in the said key indicators, but they also each rank among the best in the country thanks to their respective undisputed competitive advantages and comprehensive strength in several fields. This year’s 15 winners include established firms headquartered in Beijing, Shanghai and Shenzhen, large firms in non-first-tier cities that are deeply involved in regional markets, as well as medium-sized firms that have just switched from the traditional boutique firm model to being full-service providers, with seven new entries. Given different size and market positioning, each firm has different development strategies and plans. ALB has invited several winning firms to share their continuous growth journey and the challenges they face. CHALLENGES AND OPPORTUNITIES The period under review for the 2023 ALB China Top 15 Fastest Growing Firms is from April 2022 to April 2023. Affected by the pandemic, activities in Shanghai COVER STORY
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