14 ASIAN LEGAL BUSINESS CHINA • 亚洲法律杂志-中国版 AUGUST 2024 COVER STORY and competitiveness of each lawyer, but also attracts more high-quality clients and talents to gravitate toward us, which is also key to our continuous, rapid growth.” “Internally, we have diversified training programs such as the “Spring Bamboo Shoots Program” for young lawyers to help them grow rapidly through systematic learning, practical training and personalized guidance. Externally, we have established education and internship training bases in five wellknown universities such as Shenzhen University, and created China’s first lawyers’ academy that is jointly established by law firms, universities and lawyers’ associations to train elite lawyers and cultivate outstanding talents.” KEEPING UP WITH THE TIMES Behind the rapid growth and continuous breakthroughs of firms, there are often various difficulties that law firm management and partners, and even all lawyers, need to confront together. As industry leaders, the winning firms also have many “growing pains”, but they choose to never “lie flat” and are always committed to analyzing and solving problems. All winners have mentioned that competition in the legal services industry has become increasingly fierce in recent years. Zhang Min, Director of Beijing Shengchi Law Firm’s Management Committee, emphasizes the need for firms to adapt swiftly to competition. “Shengchi has always been actively competing on the market by keeping pace with the times. The Internet has had a great impact on people’s behavioral patterns, which means the era where firms could wait for business to come to them has long gone.” Citing his own experience, Zhang says: “It takes a good blacksmith to make good steel. The more severe the market environment, the more efforts firms need to make to build up their own capacity and improve service quality. We should pay attention to not only competition in acquiring business, but also to competition in delivering results. Only by delivering cases well and effectively safeguarding the legitimate rights and interests of the parties can a firm maintain long-term, healthy development”. “Branding has become an important manifestation of a company’s competitiveness. Law firms are no different. Having a brand with good reputation and wide recognition can help a firm attract more high-quality clients, thereby occupying a favorable position amid market competition,” emphasizes Zeng. He thinks that faced with challenges from various types of business such as high-end, non-standard business, conventional comprehensive business and bulk business, a firm can take different measures to consolidate its market position and pursue sustained development. “For high-end, non-standard business, China Commercial Law Firm focuses on differentiated product design. Through in-depth research of client needs, we have ‘commoditized’ legal services to make them more visual and standardized. Differentiation can not only raise the efficiency of working with clients, but also help promote internal cooperation among lawyers, thereby establishing a unique brand image.” “For conventional comprehensive business and bulk business, we actively expand diversified market channels, and in particular step up the development and use of the Internet to find case sources. Through livestreaming, short videos and other platforms, we have built a new media matrix to enhance brand awareness and influence. We also employ traditional methods such as offline professional training, so as to form a market development system combining both online and offline activities,” says Zeng. Li similarly believes that firms need to keep up with the times. “The recent market reality is that clients’ willingness and ability to pay have declined, but their requirements for services have increased. Considering that some traditional practice areas are no longer very profitable, firms need to proactively seek new areas and new directions.” “For example, many firms are actively developing international business, and Blossom & Credit has also set up an international practice group. However, if the products and services trade zone legal service product featuring “legislative research, ShenzhenHong Kong collaboration, compliance development, cross-border legal services, and investment promotion”. “Internationally, we rely on the advantage of the Guangdong-Hong Kong-Macao Greater Bay Area as an international gateway to gradually expand to countries along the ‘Belt and Road Initiative’ route and their surrounding areas, and maintain close contact with legal service providers in Singapore, Cambodia, Laos, Vietnam, Malaysia and other countries. We also have outreach in North America, the Middle East and Europe. Such presence not only helps us establish brand image and increase market share on the international stage, but also lays the foundation for us to occupy a more important position in the global legal services market in the future.” Zeng says that to enhance international influence, China Commercial Law Firm has actively led and participated in the establishment of multiple international exchange platforms, such as the Qianhai Belt and Road Legal Services Federation and the Shenzhen Qianhai International Commercial Mediation Center. “Talent is key to our sustained, rapid development. To raise the level of crossborder services, we have made vigorous efforts to attract and train cross-border lawyers, especially in overseas markets such as ASEAN, and have built a highly competent and professional team by welcoming lawyers with rich experience in international legal services.” Zeng adds that China Commercial Law Firm currently has many lawyers who can work proficiently in Japanese, Korean and other languages, with more than 20 lawyers qualified to practice overseas. China Commercial Law Firm has also stepped up support for individual lawyers. It has launched the “Individual/ Team + Specialization” IP short video project to use interactive video content to showcase the professional competency of the firm, build up the personal brand of lawyers, and enhance the firm’s brand image and profile. “The creation of professional IP for all staff not only uplifts the market influence
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