Bloomberg Law
April 22, 2015, 1:20 PM UTC

Unpacking Baker & McKenzie’s Joint Shanghai Operation

Casey Sullivan

Baker & McKenzie’s announcement last week that it had gained regulatory approval to form a first-of-its kind joint operation with FenXun Partners in the Shanghai free-trade zone caught the legal world by surprise.

For years, global law firms have been trying to enter China, opening offices in Beijing and Shanghai, despite strict regulations that prevent foreign law firms from practicing there. Many of these satellite offices fail to cut a profit or else merely break even, according to one recent empirical study that surveyed dozens of lawyers.

Still, many law firms continue to invest in China. Baker & McKenzie has operated in Beijing since ...

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