17 ASIAN LEGAL BUSINESS CHINA • 亚洲法律杂志-中国版 WWW.LEGALBUSINESSONLINE.COM/CHINA COVER STORY secondary market to benefit lawyers and create a virtuous circle.” “Externally, we will first pursue moderate expansion and continue to attract professional teams to reach 500 practicing lawyers in our Shanghai headquarters in the next three years. Apart from Beijing, Shanghai, Guangzhou and other first-tier cities, we will focus on establishing presence in capital cities in the Yangtze River Delta region, and important prefecture-level cities in Jiangsu, Zhejiang and other provinces, so as to reach 20 domestic offices and five overseas offices, thus creating a nationally renowned brand that is capable of serving clients both at home and abroad. Second, we will work on brand building, including branding of the firm as a whole, branding of practice teams and branding of individual lawyers. They should complement and support each other,” says Pan of Ronly & Tenwen. Cao says that JAVY will always remain clearheaded and keep its original vision in mind. “In the next step, we will spare no effort to achieve the strategic goal of becoming a large national firm in accordance with the goals set in our first Five-year Plan. Specifically, we will spend three years to further innovate work ideas and management measures, and improve the construction of the national legal services network, to make JAVY a well-known national firm where the number of lawyers and the number of elite lawyers both rank among the highest across the country. Further, in five years, we will establish a service network with global coverage and become a global firm.” According to Jiang of Hylands: “In the face of the global economic recession, China’s legal services industry will become a jungle society where only the fittest survive. Hylands must remain firm in our development direction, and focus on risk control, especially criminal, administrative and civil legal risks. In addition, while attracting top talents, we must further enhance organizational capabilities.” “Hylands aims to join the $200 million revenue club by the end of 2023, achieve the fee target of 2 billion yuan in three years, and reach 3 billion yuan in five years before Hylands’ 30th anniversary. We should be among the top ten in China for the three indicators of number of practitioners, total revenue and revenue per lawyer, and become a leading firm,” shares Jiang when it comes to specific targets. To achieve these goals, Hylands will rely on the dual drivers of R&D and organization. On the one hand, to become a R&D-oriented firm, Hylands has set up a research institute this year, and will gradually unveil industryleading legal service products, publish business articles combining theory and practice, nurture the growth of partners with more academic activities, so as to create the image of lawyers with deep professional expertise. On the other
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