Linklaters, the well-known international law firm, is talking with Chinese law firm to build a "best friends" relationship and launch a joint operation in the Shanghai Free Trade Zone (FTZ) to enter into the Chinese legal market.
Three partners and 16 lawyers of Linklaters are now leaving their China offices to set up the new independent firm, an agreement that is expected to be finalised in the next two or three months.
The Shanghai FTZ was approved by China’s Ministry of Justice in January 2014, allowing foreign law firms with representative offices in China to set up joint operations with Chinese firms within the FTZ.
Up to now, Baker McKenzie was the first foreign law firm allowed to establish a joint operation in the Shanghai FTZ with a Chinese counterpart, partnering with FenXun Partners in 2015.