Reopened borders, scrapped restrictions, and conciliatory policies have come as relief to PRC law firms in Hong Kong, with economic activities in Greater China expected to steadily pick up following a difficult pandemic period. While lawyers are wary of an uncertain regulatory landscape and moderate investor confidence, they are also banking on their unique positioning as a bridge between China and the rest of the world. 

Combining an international outlook with traditional Asian values and culture, Hong Kong is often lauded as an open society guided by more progressive social ethos, which includes gender equality.

Innovation has become a vital attribute for law firms globally, particularly in the face of challenges brought about by increasing digitalisation, as well as uncertainty from geopolitical developments and the pandemic. In Asia, law firms are embracing the wave and incorporating new technologies and techniques to secure new clients and enhance service delivery. RANKINGS AND TEXT BY ASIAN LEGAL BUSINESS

Recently, China joined governments in the Asia-Pacific region in rolling back travel restrictions to send off the COVID-19 pandemic, a sign that the aviation industry’s revival was well and truly taking off.

With hopes rising for a recovery in legal work as Asia’s economies roar back to life in 2023, law firms are pulling out all the stops to burnish their marketing strategies to woo clients. Marketing and business development leaders tell ALB how they plan to pivot and grow their business to better meet clients’ needs.

In a bid to burnish its reputation as a global arbitration powerhouse, Hong Kong has recently heralded a new regime that allows locally based lawyers to charge a broad range of success fees for arbitration seated in or outside the Chinese city, upon agreement with their clients.

Despite persistent inflation and geopolitical instabilities, there are rising hopes for a generally better 2023 that is expected to see a revival in economic activities and business confidence.

KPMG Law has recently undergone a combination with ZICO Law as the Big Four consulting firm looks to extend its reach across Southeast Asia. Leaders of the two entities share with ALB on how they plan to guarantee a smooth transition and harness their respective strengths to scale new heights in the region.

Although the COVID-19 pandemic appeared to be drawing to a close after three years, law firms in Asia looking for a boom in 2023 are confronted with a moderate global economic outlook that could continue to affect legal demands. Lawyers from different Asian jurisdictions share with ALB how they expect their market to develop, and what in-house counsel should be looking out for.

With global economic uncertainty at a decades-long high – thanks to the impact of a once-in-a-century pandemic, geopolitical turmoil, market disruptions and more - Asian HNWIs are turning to offshore jurisdictions more than ever before to secure and grow their assets. And that growth is set to continue in 2023, say offshore lawyers.