20 ASIAN LEGAL BUSINESS CHINA • 亚洲法律杂志-中国版 SEPTEMBER 2024 At the start of 2024, the American Chamber of Commerce in South China released its Special Report on the State of Business in South China, which continues to express optimism about the region’s development despite the complex geopolitical environment and the slowdown in major global economies. The report highlights that, driven by the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) initiative, now in its fifth year, South China is poised to become a new hub for technological innovation in the coming years. This development is expected to create novel business models and opportunities, positioning the region as a key driver of China’s trade and economic growth. One of the main sources of economic vitality in South China is its deep connection with the global market. However, the modes of interaction between South China and the rest of the world have shifted in recent years. Liu Wen, partner at Commerce & Finance Law Offices, notes that whilst South China’s economy has always been strongly connected externally, this connection was previously dominated by trade in goods. Now, due to sanctions and other factors, some South China companies are relocating their factories overseas, particularly those whose products are exported to sensitive regions like Europe, the United States and Russia. These companies are increasingly setting up operations in locations such as Southeast Asia and Mexico. Lin Zejun, director of the Greater Bay Area office at East & Concord Partners, points out that South China is experiencing an unprecedented wave of overseas expansion in terms of depth, breadth and scope. He observes that manufacturing companies are not only moving their factories abroad but also establishing parts of their R&D centres overseas. Large companies are no longer limiting their outbound investments to a single host country; instead, they are targeting multiple countries, building comprehensive supply chains that integrate production resources and technologies from various regions. High-tech and Internet companies also stand out for their innovative approaches to overseas expansion. Lin notes that as multinational digital companies with Chinese backgrounds grow stronger, they are beginning to export their R&D and business models abroad. These companies have achieved rapid growth with minimal investment in manpower and capital due to their reliance on digital business models. East & Concord recently advised on a project REGIONAL REPORT South China has long served as a gateway for China’s global outreach. Recently, companies in the Guangdong-Hong Kong-Macao Greater Bay Area have spearheaded China’s global expansion, particularly in the manufacturing, technology and new energy sectors. As overseas operations localise, compliance demands grow. In response, South China law firms are innovating legal services and training cross-border talent. 华南地区是中国对外开放的窗口，近年，尤其粤港澳大湾区的制造、科创、新能源、电商、互联网等企业成为中国出海“主 力军”，愈发深入的海外本地化运营也对企业海外合规提出了更高要求。在此背景下，华南律所纷纷创新“出海”法律服务 模式、强调培养涉外法律人才，ALB与华南领先律所管理者聊了聊此方面的经验与挑战。 BY HU YANGXIAOXIAO 作者：胡阳潇潇 REGIONAL REPORT: SOUTH CHINA EYES OVERSEAS OPPORTUNITIES 华 南 地及区相报关告法：律企服业“务出 海 ”
RkJQdWJsaXNoZXIy MjA0NzE4Mw==