29 ASIAN LEGAL BUSINESS CHINA • 亚洲法律杂志-中国版 WWW.LEGALBUSINESSONLINE.COM/CHINA 2023 ALB CHINA CLIENT CHOICE which inevitably sets dual requirements on lawyers. In private wealth management and family succession, in particular, clients are even stricter with lawyers’ expertise and capability to deliver comprehensive and complete services. Qian Xin, a senior partner at JointWin Partners is an expert in private wealth management and family succession, agreed. Qian tells ALB that, “A lawyer is required to have not only professional competence, but also a sense of service. This is especially important in wealth management and family succession. This is because the cases in these areas often involve high-net-worth clients with complex property and asset structures, and long-term financial planning within families.” However, simply being able to develop a workable legal structure or win a lawsuit cannot make a private lawyer for clients. Gu Wenjun cites several examples. “You may receive a call in the middle of the night from a client asking for help with a very minor traffic accident or dispute involving a family member; you may help mediate a family conflict or get involved in strategy development for a major crisis in the family business. These ‘atypical legal services’ that require timely response, all-round support, and privacy protection, make you a distinctive and irreplaceable lawyer that clients can truly trust. You are the special “private” lawyer for your client only when you combine professional skills and a service mindset.” Qian Xin also mentiones that “having a service mindset is not necessarily dancing after clients’ pipe. We sometimes need to say no to our clients while adhering to our principles as legal professionals.” INDUSTRY EXPERTS Moreover, profound industry insights and a forward-thinking mindset are indispensable basic qualities for legal professionals. The ranked lawyers this year are aiming to become an all-round legal professional with a forward-thinking business mindset and a service attitude. An important pillar that underpins national economic growth, the real estate and infrastructure sectors have experienced periods of rapid development and tightening regulation over the past two decades. “Amid tougher regulation, economic slowdown, and retreating yields, the negative economic impact of the epidemic over the past three years has further catalyzed financial bankruptcy, and a large number of real estate companies and the upstream and downstream partners are stuck in the mire,” says Tian Shaoqing, a senior partner at Lantai Partners. “Both the government and the industry are exploring and practicing a new model to promote healthy development. The good news is that the housing market is recovering as the government starts to relax the regulation.” In the new competitive landscape, the entities in real estate development and infrastructure investment are under severe pressure to work out their way forward and seek transformation. They have to predict and adapt to the business environment and policy changes on the one hand and prepare well for risks on the other. Hence greater challenges are imposed on the legal services market. “We need to keep updated with the latest developments in market development, regulatory policies, and relevant laws and regulations, and leverage our expertise and experience to deliver an ultimate service experience that is interdisciplinary, systematic, and innovative with the right balance of business interests and legal risks,” Tian adds. Chen Jun, a partner at AnJie Broad Law Firm engages in the investment of insurance institutions, has serves more than 100 insurance and related institutions. She also observed changing client requirements in private equity and venture capital investment. “First of all, lawyers are required to understand the industry of the investee and give more advice at the business level. Based on the client’s business objectives and the characteristics of the investee and overall industry, lawyers should design targeted arrangements and identify contract terms that cover investment, yields, and exit path, so that the client can secure a legal and valid deal with lower risks while meeting their business objectives. Their rights and interests as an investor are better guaranteed.” In addition, clients want lawyers with good communication and problemsolving skills. “Most lawyers can identify and summarize the problems faced by their clients, but the ultimate goal is to solve problems and achieve the objectives of transactions. Therefore, lawyers need to leverage professional and industry knowledge and fully communicate with clients about their business needs and objectives, so personalized and targeted legal advice and solutions are guaranteed for clients.” For example, “when pursuing private equity investment, insurance institutions want to operate in a legitimate and compliant way, with stable and reliable sources of income and a practical exit path, but there is no such thing as a perfect and risk-free arrangement. So lawyers need to fully communicate with their clients to balance their compliance METHODOLOGY In March, ALB launched the 2023 ALB China Client Choice survey. The survey, which spanned a one-month period, aimed to identify preferred lawyers based in Mainland China, irrespective of nationality or specialization. In-house counsels, company management, and third-party business consultants were invited to participate. Participants were asked to nominate their preferred lawyers for recognition, with nominated lawyers being required to be based in Mainland China and could specialize in any field of law. Nearly 1800 responses were collected during the survey period. Responses were gathered from in-house counsels and business professionals representing various companies. 评选方法 ALB于今年3月启动了2023年ALB China客户首选律师调查，邀请参与问 卷的人士是公司法务人员、管理人员或 第三方商业顾问。被提名的律师可以是 任何业务领域或国籍，但必须常驻在中 国大陆工作。在为期1个月的调查期中， 收集到约1800份来自各公司法务及商 务人士提供的调查反馈，每位参与者提 名合作过的优秀律师，同时详细列举出 了推荐理由。
RkJQdWJsaXNoZXIy MjA0NzE4Mw==