China Practice

Davis Polk’s involvement in China dates back to the end of the Qing Dynasty, when the firm worked on financing transactions for the construction of railways in China. Among the top global firms, we now have one of the largest presences in China, with offices in Beijing and Hong Kong.

One-Stop U.S., Hong Kong and English Law Services

Our sophisticated and fully integrated U.S., Hong Kong and English law platform makes our China practice one of the best among international firms. With our one-stop law services and the firm’s strong cross-practice collaboration, our Asia-Pacific practice provides our Chinese clients with one of the most efficient full-service global law firms in China today.

Comprehensive Practices

We offer a broad range of world-class practices:

CAPITAL MARKETS

Our top-ranking international capital markets practice in China has made us the go-to firm in this sector. Our extensive experience includes advising on some of the largest and most complex securities offerings ever by Chinese issuers, including Hong Kong and U.S. IPOs, rights offerings, high-yield and investment-grade debt offerings, convertible and exchangeable debt securities, and complex liability management exercises.

MERGERS AND ACQUISITIONS

We are a market leader for M&A work in China, renowned for our work on complex cross-border transactions, including both public and private M&A, joint ventures, spinoffs, privatizations, direct investments, buyouts and private equity. We have advised on some of the largest ever China outbound transactions in history and have extensive experience with China inbound deals.

CHINA ENFORCEMENT INVESTIGATIONS AND ADVISORY

We have one of the largest and most highly regarded enforcement and litigation practices in Asia. Our China enforcement, investigation and advisory team offers clients a distinctive platform of regulatory, dispute resolution and litigation advice covering both U.S. and Hong Kong legal and regulatory matters.

Leading investment banks, multinational corporations and government-related entities around the globe turn to us to handle a range of global enforcement and litigation matters including, but not limited to, major cross-border investigative and arbitration work and highest-stakes civil and criminal litigation. We also work side by side with major Chinese corporations to develop effective compliance programs, prepare policies and procedures to control risk, investigate potential misconduct, deal with regulatory authorities in multiple jurisdictions and devise strategies for remedial action.

Time-Tested Client Relationships

We have strong relationships with numerous state-owned and private Chinese companies, financial institutions, government agencies as well as many other multinational companies that are active in China.  

Knowledgeable and Experienced Professionals

We have one of the largest contingencies of bilingual Mandarin- and English-speaking lawyers amongst peer firms in China. Our legal team in China combines in-depth knowledge of the Chinese market with leading international experience. Our lockstep compensation structure ensures seamless collaboration worldwide between different teams, offices and practices. 

Recognition

  • Asia Legal Awards – "International Law Firm of the Year" and "Securities Firm of the Year," 2017
  • IFLR Asia Awards
    • "Most Innovative U.S. Firm in Asia," 2014-2017
    • "Law Firm of the Year": Equity, 2017
    • "China Practice of the Year," 2016
  • China Law & Practice Awards – "Capital Markets Firm of the Year": International, 2017
  • FinanceAsia Achievement Awards – Best Law Firm, 2016
  • Chambers Asia Awards – "Law Firm of the Year," 2015
  • Asian-MENA In-House Community Survey – "Capital Markets Firm of the Year," 2016
  • China Business Law Journal – "Best Overall International Law Firm for China Work," 2014 

Notable Matters

CAPITAL MARKETS
  • China Everbright Greentech Limited on its $390.2 million Hong Kong IPO and global offering.
  • Postal Savings Bank of China on its $7.4 billion Hong Kong IPO and global offering – named “Equity Deal of the Year” at the 2016 IFLR Asia Awards, “Deal of the Year” by Asian-MENA Counsel 2016 and “Equity Market Deal of the Year” at the 2017 Asian Legal Business Hong Kong Law Awards.
  • China International Capital Corporation Limited on its $801 million Hong Kong IPO and global offering.
  • BeiGene on its $182.2 million U.S. IPO on the NASDAQ – named “Deal of the Year” by Asia Business Law Journal 2016.
  • Legend Holdings Corporation on its $1.96 billion Hong Kong IPO and global offering.
  • JD.com on its $2.05 billion SEC-registered U.S. IPO on the NASDAQ and its subsequent $619 million secondary offering – named “Deal of the Year” by Asian-MENA Counsel 2014.
  • Xunlei on its $101 million SEC-registered U.S. IPO on the NYSE.
  • Baidu Inc. on its $124 million SEC-registered U.S. IPO on the NASDAQ.
  • China Railway Construction Corporation Limited on its $500 million Regulation S zero coupon H share convertible bonds offering – named “Deal of the Year” by China Business Law Journal 2016.
  • Zhejiang Geely Holding Group on its $400 million credit enhanced green bond offering – named “Securities Deal of the Year: Debt” by 2017 Asia Legal Awards and “Best Corporate Green Bond”at the 2016 Asset Regional Awards.
  • The People’s Bank of China on its RMB5 billion bonds offering.
M&A 
  • Syngenta on a $43 billion offer by ChemChina – this is the largest Chinese outbound transaction ever; named “Finance Deal of the Year: Acquisitions” at the 2017 Asia Legal Awards, “M&A Deal of the Year” by Asian Legal Business 2017 and “Outbound Deal of the Year” at the 2017 China Law & Practice Awards.
  • China Vanke on its participation in the $11.6 billion acquisition of Global Logistics Properties.
  • Ingram Micro on its $6 billion acquisition by Tianjin Tianhai, a subsidiary of China's HNA Group.
  • IDG Capital, together with China Oceanwide on its acquisition of International Data Group.
  • Huatai Securities on its $780 million acquisition of AssetMark – named “M&A Deal of the Year” at 2017 IFLR Americas Awards.
  • Uber, a software application that coordinates rideshares, in connection with the merger of Uber China with Didi Chuxing, a mobile platform taxi-calling application – named “Deal of the Year” by Asian-MENA Counsel 2016 and China Business Law Journal 2016.
  • Freeport-McMoRanon its sale of its interest in TF Holdings to China Molybdenum for $2.65 billion.
  • China Resources Beer on its $1.6 billion acquisition from AB InBev of SABMiller's 49% interest in China Resources Snow Breweries, a joint venture between China Resources and SABMiller and the largest brewer by volume in China.
  • Fujian Thai Hot Investmenton its $1.4 billion acquisition of Dah Sing Life Assurance Company, Dah Sing Insurance Services and Macau Life Insurance Company from Dah Sing Financial Holdings and Macau Insurance Company.
  • Meituan Corporation in connection with its strategic cooperation with Dianping Holdings Ltd. – named “Best China Deal” at the 2015 FinanceAsia Achievement Awards and “Best Deal: North Asia” at the 2016 Asset Country Awards.  
  • Shanda Group on its equity investment in Legg Mason.