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The firm

Founded in 2009, Cathay Associates Kejie is a transactional and litigation law firm within a global network, specialising in advising domestic and international leading companies, financial institutions and governments. At first focussing on mergers and acquisitions, securities issuance and capital markets, venture capital and private equity and corporate and foreign direct investment, in 2015 Kejie expanded its practice area to commercial litigation and arbitration. The number of professionals in Kejie has grown from 10 professionals since its establishment to more than 40 professionals currently.

Areas of practice

M&A: delivers a full range of M&A services regarding financing, taxation, competition and regulatory, pensions and employment, IP and IT, and real estate; includes cross-border deals where the firm works with leading international legal counsel to provide the best expertise for each transaction.

Securities issuance and capital markets: advising sponsors, lead managers and PRC issuers or overseas issuers with PRC assets on the issuance of equity and debt securities in private placements and public offerings, including the issuance of H-share, B-share, red-chip share, Eurobond, convertible bond and other types of securities in Hong Kong, Singapore, New York, London and other international markets, and the issuance of A-share in the public offerings in Shanghai and Shenzhen.

Venture capital and private equity: regularly represent international institutional/financial investors in targeted investment transactions and in devising new investment models for their corporate venturing, portfolio investment and private equity investments in the PRC. Significant experience in structuring on-shore/off-shore aspects of investments and effective exit strategies for international investors, through trade sales and off-shore public offerings; also represent corporate clients in similar transactions. We are also actively involved in the formation of RMB private equity fund.

Corporate and foreign direct investment: represent large multinational corporations as well as small/medium-sized companies in their direct investment activities in the PRC. Extensive experience in assisting clients in all areas of investment in the PRC, including direct investment structures, joint venture negotiations, IP protection and technology transfer issues, foreign exchange control, relevant labour and tax law, environmental law, other PRC regulatory and approval matters and holding company structure.

Financial regulations: represent a broad range of foreign and domestic financial institutions, including commercial banks, policy-oriented banks, insurance companies, securities firms, asset management firms, trust and investment firms, and other institutions. It advises on the supervision and regulation of commercial banks, insurance companies, securities firms, asset management firms, trust and investment firms and exchange and clearing houses (broadly, all of the areas regulated by the CBRC, CIRC and CSRC). Expertise extends from simply advising on the rules to the application of the rules in relation to commercial transaction, the structuring of new and innovative products, the establishment of representative office, branch office and joint venture entities, distribution and outsourcing arrangements in financial services business, regulatory investigation and disciplinary proceedings and e-commerce projects relating to financial services.

Real estate: services are both conventional and specialist, ranging from project development, land use rights assignment and transfer, sale and purchase of all property, property lease to acquisition of equity interest in domestic real estate company by international investors and IPO of domestic real estate company. Involved in the development of real estate investment trusts and formation of private equity real estate investment fund. Also involved in the formation of RMB private equity fund.

Insurance: services include acquisition of equity interests in domestic insurance companies, the establishment of representative office and foreign-funded insurance companies in China by foreign insurance companies and the structuring of insurance product and insurance-related litigation.

Commercial litigation and arbitration: dedicated to providing high quality dispute resolution services required by corporate clients. The practice has focused on resolving disputes arising from M&A, joint venture, venture capital and private equity, corporate governance, securities, intellectual property, real estate and construction, commercial loan and security, etc.


Other offices Shanghai

Member Cathay Associates (against the backdrop of the Belt and Road Initiative and the rapid internationalization of the Renminbi, Cathay Associates Kejie initiated a global legal service network named as Cathay Associates in September 2015. Cathay Associates aims at providing cross-jurisdictional legal services to Chinese enterprises with ambitious global strategies. Currently, Cathay Associates has 35 member firms with 39 offices in 36 countries across Asia, Europe, South American and Africa.

Number of lawyers 46

Above material supplied by Cathay Associates Kejie.

Legal Developments in China

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • What is the relationship between PPP and concessions?

    From fledgling concessions to PPP that is sweeping the country today, there are two major sets of regulations to be followed: one being regulations for concessions led by the National Development and Reform Commission (“NDRC”) and the other the series of regulations for PPP led by the Ministry of Finance (“MoF”).  However, to date, there is still not one law that expressly defines the relationship between the two, resulting in much confusion and many impediments in practice.  The relationship between concessions and PPP is an issue currently desperately needing clarification.
  • Thought on Developing Convention on Enforceability of Settlement Agreements Reached Through Concilia

    The UN Commission on International Trade Law (“UNCITRAL”) held its 47th session in New York on 7-18 July 2014 and the Author had the privilege of attending the conference at invitation of Mr. Yu Jianlong, President of the Asia Pacific Regional Arbitration Group (“APRAG”). During the conference, the U.S. Government submitted a proposal suggesting Working Group II (Arbitration and Conciliation) of UNCITRAL (“Working Group II”) to develop a multilateral convention with respect of the enforceability of international commercial settlement agreements reached through conciliation (“Enforceability Convention”) for the purpose of encouraging the use of conciliation in resolving international commercial disputes.  Read more
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    With the widespread use of the PPP model in China, financing channels for PPP projects have also increasingly diversified.  Bank, trust, fund and insurance channels of capital have all rushed onto the stage of project financing. Subject to Article 43 of the Commercial Bank Law, banks, as the traditional big brother of financing, have always played the role of lender.  In practice, the opinions as to whether they can participate in the bidding on, and contributing capital to, PPP projects as private investors have been mixed.

    The current PPP tide in China driven by the Ministry of Finance and the National Development and Reform Commission witnesses the transformation and upgrading of large state-owned enterprises.  These enterprises that have traditionally only been familiar with bid invitation, bid submission, and construction, have started to have an impact on numerous new areas such as project proposal and planning, company establishment and acquisition, fund establishment and operation, etc.  Certain state-owned enterprises that got their starts fairly early have cultivated teams with extensive experience in investing, and certain enterprises that are just starting up are selecting young talent from various entities in all out effort to catch up.  Private enterprises also participate enthusiastically.
  • Transfer Pricing – New Risks in Declaring Price Impact of Special Relationship to China Customs

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  • New China Customs Taxation Policy on Cross-Border B2C E-Commerce Imports

    The Ministry of Finance, General Administration of Customs and State Administration of Taxation of China jointly issued a circular (“Joint Circular ”) relating to the taxation policy on the cross-border e-commerce retailing imports, with effect as from April 8, 2016.
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    One of the most important negotiated points by parties in contract negotiations is the dispute resolution clause. If parties agree on arbitration, they often negotiate which arbitration institution or arbitration rules will apply in resolving potential disputes.
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    Ren Qing and Wu Peng, Partners in Zhong Lun Law Firm

    By Steve Zhao
  • Zhong Lun Advises Chinese Consortium on $1.9 Billion Acquisition of OmniVision Technologies, Inc.

    On April 30, 2015, OmniVision Technologies, Inc. (OVTI, a Delaware company listed on NASDAQ) announced that it has entered into a definitive agreement to be acquired by a consortium composed of Hua Capital Management Co. Ltd. (“Hua Capital Management”), CITIC Capital Holdings Limited (“CITIC Capital”) and GoldStone Investment Co. Ltd. (“GoldStone Investment”) (collectively, the “Consortium”). Under the terms of the agreement, OmniVision stockholders will receive $29.75 per share in cash, or a total of approximately $1.9 billion. The agreement was unanimously approved by OmniVision’s Board of Directors.