13 ASIAN LEGAL BUSINESS CHINA • 亚洲法律杂志-中国版 WWW.LEGALBUSINESSONLINE.COM/CHINA COVER STORY distinctions, supporting the maintenance of our desired market share and growth rate.” W&H Law Firm, a notable national entity, presently runs eight offices in South China and has been setting up four new offices in Qianhai, Hong Kong, Zhongshan, and Nansha since 2023. Huang Shumin, the South China Regional Director and head of the Shenzhen office, describes the firm’s expansion strategy during these challenging times to ALB: “South China, the powerhouse of the GBA and Hainan FTP, is ripe with economic vitality, regional benefits, and collaborative potential across regions. The abundance of business prospects is a call to law firms to strategically position themselves for the future. Our growth in service locations is indicative of our clear business direction and our deep commitment to the South China market.” Despite the region’s potential, the South China market faces hurdles, mainly due to clients’ decreasing ability and readiness to pay, which has intensified competition in the legal services sector and led to aggressive pricing strategies. W&H has chosen to forego excessive competition in favor of improving service quality and developing new competitive advantages. “We motivate our lawyers to seek out and capitalize on new business opportunities, and to devise legal service offerings that cater to robust market needs, such as legal safeguards for entrepreneurs and datarelated legal services, which have garnered favorable reception in the market. For service delivery, we’ve strengthened our collaborative team approach to provide clients with all-encompassing, seamless services.” Wang Jing & GH Law Firm, a prominent local firm, has successfully navigated a host of challenges since 2023 through strategic internal capacitybuilding and external expansion, according to the firm’s Director, Jeff Yang. “Marking a significant organizational change, we replaced traditional ‘practice groups’ with ‘fields’ in 2023, which has greatly enhanced our specialization and allowed for comprehensive capacity development. This change has also supported the growth of our specialist teams,” explains Yang. Additionally, the firm has branched out into new business domains. “This year, we welcomed two senior consultants, Zeng Lei and Zhang Xin, both of whom are ex-Tencent staffers. Their induction has spearheaded our new ‘cross-border data compliance for enterprises going overseas’ service area. In a pioneering move, we’ve also consolidated our domestic and international offices to create a Family Office. This innovative division amalgamates legal, financial, tax, children’s education, residency planning, family trust, and investment advisory services, offering a holistic solution for wealth management and succession planning as part of our
RkJQdWJsaXNoZXIy MjA0NzE4Mw==