5 Asian Legal Business | November 2024 Briefs often makes it an ideal stepping stone, easy to navigate yet sufficient to launch these companies onto a path towards international investment. SGLA, with its newly minted Hong Kong office, is keen to capitalise on these evolving dynamics. The firm aims to swiftly address the emerging needs of its clientele while also exploring fresh business opportunities in this vibrant market. Yang of Wang Jing & GH shares a similarly ambitious vision for its Hong Kong operations. He tells ALB that in the future, its Hong Kong office will be “committed to providing Chinese legal advisory services to both domestic and international clients, focusing on meeting the diversified needs of Chinese enterprises going global, particularly in areas such as overseas investment and financing, maritime and admiralty law, data compliance, and dispute resolution.” Weathering the storm Zhou of SGLA admits that under the current subdued market conditions, along with the high costs of operating in Hong Kong, law firms are hard-pressed to maintain the business viability of the bottom-line. “Considering the three-year joint operation period, the operating costs of a Hong Kong office are no small figure,” he says. Nonetheless, SGLA recognises the critical importance of early internationalisation for its next phase of growth. And since the official announcement of their Hong Kong office, SGLA has already witnessed encouraging business indicators, validating their strategic move. On the revenue side, Zhou expects the firm to weather this initial phase, eventually breaking even before reaching profitability. “For large law firms, having a Hong Kong office has become a ‘standard configuration,’ signalling to peers and clients that our presence is being continuously improved and that we have the capability to offer services in Hong Kong and even globally.” Guangzhou-based Wang Jing & GH has already allocated a sufficient budget for its Hong Kong office, which is strategically positioned with a dual focus. Firstly, it will serve as the firm’s overseas headquarters, acting as a crucial link between domestic and international operations. Secondly, by capitalising on Hong Kong’s status as a global financial hub and the largest offshore Renminbi clearing centre, the 北京 丨 上海 丨 西安 丨 成都 丨 大连 丨 深圳 丨 济南 丨 厦门 丨 香港 丨 天津 丨 广州 丨 杭州 丨 悉尼 丨 苏州 丨 纽约 丨 武汉 丨 多伦多 丨 南京 丨 联营办公室* 福州 丨 郑州 丨 海口 丨 重庆 丨 合肥 丨 青岛 丨 洛隆 丨 南昌 丨 温州 丨 宁波 丨 太原 *观韬亚司特（上海自贸区）联营办公室 地址：北京市西城区金融大街5号新盛大厦B座19层 电话：8610 6657 8066 邮箱：guantao@guantao.com 观之以韬 示之以略
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