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Decoupling: China's biggest western law firm reduces its headcount
来源：shippingazette 编辑：编辑部 发布：2023/08/14 09:07:24
DENTONS, the largest western law firm in China by headcount, is hiving off its operation in the country in response to Beijing's intensifying regulation, which has hit foreign companies, reports London's Financial Times.
The law firm has informed clients it was making the move due to the "evolving regulatory environment for Chinese law firms," including new requirements "relating to data privacy, cyber security, capital control and governance."
The decision by Dentons comes amid worsening prospects for foreign companies in the country as the Chinese government expands cyber security and data protection laws on national security grounds.
"China broadened its anti-espionage laws in April to cover any "documents, data, materials or items related to national security and interests," said the client advisory.
Lawyers for Dacheng, the firm in China, will operate within a completely separate entity to which Dentons will refer clients, Dentons said.
Dentons had merged with Chinese group Dacheng in 2015. But the Dacheng name will no longer be used by Dentons, and the Chinese entity will not contribute to the firm's global profit pool. The group is already regionally separated under the Swiss verein system, which allows merged entities to remain somewhat independent.
The law firm has informed clients it was making the move due to the "evolving regulatory environment for Chinese law firms," including new requirements "relating to data privacy, cyber security, capital control and governance."
The decision by Dentons comes amid worsening prospects for foreign companies in the country as the Chinese government expands cyber security and data protection laws on national security grounds.
"China broadened its anti-espionage laws in April to cover any "documents, data, materials or items related to national security and interests," said the client advisory.
Lawyers for Dacheng, the firm in China, will operate within a completely separate entity to which Dentons will refer clients, Dentons said.
Dentons had merged with Chinese group Dacheng in 2015. But the Dacheng name will no longer be used by Dentons, and the Chinese entity will not contribute to the firm's global profit pool. The group is already regionally separated under the Swiss verein system, which allows merged entities to remain somewhat independent.