10 ASIAN LEGAL BUSINESS CHINA • 亚洲法律杂志-中国版 SEPTEMBER 2023 After over two months of extensive research and careful consideration, the 2023 ALB China Top 15 New Technology In-House Teams list has been revealed. In China, companies in the new technology sector have ample room for growth, but they are also contending with increasingly stringent regulations. How do the in-house teams in this domain adapt to the swiftly evolving landscape? Several award-winning teams share their insights with ALB. RANKING BY ASIAN LEGAL BUSINESS, TEXT BY VICTOR WU 经过两个多月的调研和评选，2023 ALB China十五佳新科技公司法务团队榜单出炉。在中国，新科技公司拥有 广阔的发展空间，也面临着趋严的监管。工作于这一领域的法务团队如何应对快速变化的发展环境？部分上榜团 队与ALB分享了他们的思考。 排名：《亚洲法律杂志》，作者：吴嘉林 “In recent years, the exponential growth of the technology industry has brought many new challenges and opportunities to in-house teams. The rise of new technology companies has not only transformed the industry landscape, but also raised the bar on in-house teams. In terms of professional capabilities, new technology in-house teams have shown outstanding performance. They are capable of providing effective legal support for the strategic development of their organizations as well as necessary legal safeguards for the companies’ business expansion. In terms of technological innovation, these in-house teams actively explore new legal technology, and employ big data, artificial intelligence and other technologies to improve the efficiency and accuracy of legal risks management.” The above text is an overview generated by a Large Language Model to describe “new technology in-house teams.” Although it is not 100 percent accurate and objective, the understanding and expression by AI-generated content (AIGC) of current technological developments, the role of in-house teams and the mutual influence of company development and in-house legal work are very much aligned with the original intention and significance of this ALB list. In fact, the AI-generated text has even “considered” the fact that in-house teams have begun to actively use legal technology products. AI technology represented by AIGC set off a global wave at the beginning of this year. In addition, many other new technology fields such as semiconductors, chips, biomedicine, new energy and smart manufacturing are also making rapid strides in China, transforming the country’s traditional industry structure and economic landscape, and generating huge attention and many hot topics. High-end and new technologies have already become important features of China’s emerging economy. The National Bureau of Statistics has made it clear that the emerging economy is based on new industries, new business formats and new business models, and driven by the Internet and new technological revolution. It is an economic format characterized by in-depth integration of information technology and industrialization, innovation of business models, institutions and mechanisms, efficient investment in human capital and reduced dependence on material factors. All the new technology companies spotlighted by ALB’s list exhibit such characteristics and are in harmony with the development trend of the new economy. According to data from the National Bureau of Statistics, the economic valueadd of China’s “new industries, new business formats and new business models” reached approximately 21 trillion yuan ($2.89 trillion) in 2022, up 6.5 percent over the previous year and equivalent to 17.36 percent of total GDP. The continued rise of this figure over the past three years is proof that the momentum of the emerging economy has not been hampered by the pandemic. In the capital market, the STAR Market and the ChiNext have become the main stages for A-share IPOs. According to China’s Financial News, the number of IPOs on STAR Market and ChiNext stood at 123 and 148 respectively last year, accounting for 63 percent of total IPOs. The combined amount of funds raised by IPOs on those two markets accounts for 73 percent of the total amount raised by A-share IPOs, testament to the support the capital market has lent to technology innovation enterprises and emerging industries. COVER STORY TOP 15 NEW TECHNOLOGY IN-HOUSE TEAMS 十五佳新科技公司法务团队
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