Ashurst > Beijing, China > Firm Profile

Ashurst
LEVEL 26 WEST TOWER
TWIN TOWERS, B12 JIANGUOMENWAI AVENUE, CHAOYANG DISTRICT
BEIJING 100022 PRC
China

China > Banking and finance: foreign firms Tier 2

Ashurst‘s ‘solutions-driven‘ finance team advises on the full spectrum of banking and financing work, and clients additionally benefit from the firm’s provision of PRC law advice through its joint operation office with PRC law firm, Guantao Law Firm. Working across the firm’s Beijing and Hong Kong offices are Patrick Phua, who has extensive expertise in China’s derivatives and structured products market; and Daniel Lau, a cross-border debt-related transactions specialist. Providing further support are Singapore and mainland China-based Chin Chuan Chen, who is experienced in energy and financing transactions throughout Asia, Latin America, Africa and Eastern Europe; Hong Kong-based Eric Tan, who advises on both sides of the lending relationship; and Beijing counsel Emma Zhang, an expert in banking and project finance work in the power, resources and infrastructure sectors.

Practice head(s):

Testimonials

The strength of the Ashurst banking practice is that it is solutions driven.

The Greater China team is effectively bilingual which is important to us. All their partners, associates and trainees are proficient/native in English and Mandarin. Also, the partners have spent time working in mainland China (or with mainland Chinese firms) and this is extremely important to us.

Ashurst provides very relevant and helpful services based on its well-balanced view and approach to global standards and China specificities.

They have extensive cross-border experience in the Greater China space and are great at client care.

The Ashurst banking team is great value for money, and the partners are accessible and hands on.

The team is excellent and knows its subject matter.

Eric Tan is knowledgeable and willing to go the extra mile. We like him because he has both offshore and onshore knowledge, which is important for the cross-border nature of our deals.

Eric Tan is a standout for us. He is able to marry experience gained from offshore practice with his expertise to deliver what we want.

Key clients

Bank of China (Hong Kong)

Banco Santander

China Construction Bank (Asia) Corporation

Deutsche Bank

Natixis

DBS

Pacific Aegis Capital Management

Shagang South-Asia (Hong Kong) Trading Co

Société Générale

Australia and New Zealand Banking Group

Work highlights

  • Advised Bank of China (Hong Kong) and China Everbright Bank Co (as mandated lead arrangers and bookrunners) and a syndicate of banks on an up-to HKD8.7bn syndicated term loan facility for Fans Group.
  • Advised Banco Santander, China Construction Bank, Natixis and 10 other banks on a €860m syndicated facility for CNCE Group (Hong Kong) Co.
  • Advised China Construction Bank (Asia) Corporation (as mandated lead arranger and bookrunner, lender and agent) on an up-to $400m syndicated term loan facility for An Ke Technology Company.

China > Fintech: foreign firms Tier 2

Consistently advising significant technology platforms, Ashurst‘s multi-disciplinary Asia-Pacific practice advises across a wide spectrum of work in the fintech sector, across multiple jurisdictions, providing banking, technology, corporate, financial regulatory and competition law expertise. The Hong Kong-based practice is led by Joshua Cole, who has a long track record in advising on large and significant fintech and TMT matters in Asia, including cross-border M&A and joint ventures. Cole is additionally experienced in advising on outsourcings and regulatory compliance across the Asia-Pacific. Further support is provided by Ben Hammond, who leads the non-contentious financial services regulatory practice in Hong Kong; and Beijing-based China finance practice head Patrick Phua.

Practice head(s):

Testimonials

‘Very familiar with regulatory framework in Hong Kong, deep knowledge of payments and remittance regulatory environment. Customer oriented, very responsive and excellent at meeting budgets and timelines.’

‘Ben Hammond – expert in Fintech and solid partner to our business. Excellent prioritisation and overall excellent understanding of our needs as a customer.’

 

Key clients

Tyme Group

Tencent

WeChat Pay

Divit

DBS

BNP Paribas

OKEx

Finnovasia

Airstar Bank

Work highlights

  • Advised Tyme Group, a global digital banking group, on establishing a joint venture with JG Group (one of the largest conglomerates in the Philippines) to create a digital bank.
  • Assisting Tencent with the international expansion of WeChat and WeChat Pay across Asia and internationally.
  • Assisted Divit, a start-up buy-now-pay-later provider, with its entry on the Hong Kong market.

China > Projects and energy: foreign firms Tier 2

Led by banking partner Chin Chuan Chen, who splits his time between Beijing and Singapore, Ashurst’s Asia project finance offering excels in advising Chinese and international sponsors, commercial banks and ECAs on multijurisdictional infrastructure and energy projects. The team has ‘rich experience advising on complex finance structures’, including large syndicated facilities and mandates involving multi-sourced financings. Based out of Beijing, ‘very enthusiastic’ counsel Emma Zhang is noted for her aptitude at handling complex cross-border project financing transactions, including high-speed railway, power, and metal smelting projects in Asia. Beijing-based counsel Zhibin Fan is recognised for his ‘conscientious and proactive’ approach to lenders on the financing of a range of projects, including coal-fired and hydropower plants in Asia and Africa.

Practice head(s):

Other key lawyers:

Testimonials

The team has rich experience advising on complex finance structures.’

Emma Zhang is very enthusiastic in the work she undertakes for her clients.’

Zhibin Fan is conscientious and proactive.’

Key clients

China Development Bank

Bank of China

Industrial and Commercial Bank of China

China Construction Bank

Export-Import Bank of China

Deutsche Bank

China Export & Credit Insurance Corporation

Agricultural Bank of China

China Minsheng Bank

Shanghai Rural Commercial Bank

Bank of China (Hong Kong) Limited Jakarta Branch

Work highlights

  • Advised the lending syndicate, arranged by China Development Bank and Bangkok Bank Public Company Limited on the $250m+  dual-currency facilities to Thai Pipeline Network Company for the construction of the extension of the existing petroleum pipeline system to the northeastern region of Thailand.
  • Advised China Development Bank Corporation and Bank of China on post-completion matters of a series of central Asia-China natural gas pipeline projects.  
  • Advised a syndicate of lenders on a $4bn-plus term loan facility for the Republic of Angola, to finance the construction of the Caculo Cabaca hydroelectric power project with an installed capacity of more than 2,100MW.

China > Corporate and M&A: foreign firms Tier 4

At Silver Circle firm Ashurst, lawyers of the Chinese offices frequently work alongside their colleagues, spread across its 29 global offices, on the full array of cross-border M&A deals, both inbound and outbound, in addition to joint ventures, governance and regulatory matters. In Shanghai, Michael Sheng handles both inbound and outbound investments while elsewhere in Beijing, the office was recently bolstered by the relocation from Sydney of Dan Yang, a lawyer whose experience renders him a natural choice for outbound Chinese investment to Australia. The team enjoys a close relationship with Guantao Law Firm, an alliance that renders it well-placed to advise on both international and PRC law considerations.

Practice head(s):

Other key lawyers:

Testimonials

‘The team is very knowledgeable with good commercial sense. They understand the business intricacies between the transacting parties and do a great job in advising risks and proposing mitigating actions.’

Key clients

Tyme Group

Mobvista Inc.

SYNthesis med chem Pty Limited

The founder and shareholder of Kokido Development Limited

Beijing Energy International Holding Company Limited

Facebook

Mirae Asset Securities (HK) Limited

Star Combo Phara Limited

Lotus Investment Holdings Pty Ltd

Work highlights

  • Advised Tyme Group, a global digital banking group, on establishing a joint venture with JG Group, one of the largest conglomerates in the Philippines, to create one of the first digital banks and potentially the first foreign invested joint venture in the digital banking business in the country.
  • Advised SYNthesis med chem Pty Limited on the sale of 100% equity interest in its wholly-owned subsidiary, SYNthesis med chem (Hong Kong) Limited to Hong Kong-listed VIVA Biotech Holdings.
  • Acted for Mobvista Inc. as the purchaser in the acquisition of the entire equity interest in Beijing Reyun Technology Co., Ltd. for an aggregate consideration of RMB1,500,000,005.

China > Regulatory/compliance: foreign firms Tier 4

Ashurst’s financial regulatory team is highly focused on handling regional and international regulatory issues, investigations and disputes. Its client roster features banking, asset management, securities brokerages and insurance companies, and its joint operation with Guantao Law Firm expands its expertise and geographic reach, particularly in financial services disputes. Practice head Patrick Phua splits his time between Hong Kong and Beijing and is supported by Priscilla Chen, senior associate Tracy Wang and counsel Yolanda Liu. Wang and Liu are based in its Beijing and Shanghai offices, respectively.

Practice head(s):

Other key lawyers:

Priscilla Chen; Tracy Wang; Yolanda Liu; Yi Man; Yichen Cui

Testimonials

‘The team comprises a mix of strong local PRC talents and foreign practitioners who have vast experience with China’s legal and regulatory landscape. Ashurst’s team provides very sound advice, with a strong practical element. The practical solutions given by Ashurst are especially vital in helping MNCs negotiate the complex environment in China and manage the legal / regulatory risks.’

‘Patrick Phua, and his team are always very responsive to our needs in China, especially given the very dynamic environment there. The quality of advice is consistently sound, with a very practical edge to the advice, i.e. not textbook advice. It facilitates our assessment of the risks involved, and the implementation of solutions to manage the issues on hand.’

Key clients

China Development Bank

Bank of China

Industrial and Commercial Bank of China

China Construction Bank

Export-Import Bank of China

Deutsche Bank

China Export & Credit Insurance Corporation

Agricultural Bank of China

China Minsheng Bank

Australia and New Zealand Banking Group

CMB International Finance

BOCOM International Asset Management

China Everbright Finance

CMBC Capital Finance Limited

Tai Fung Bank Limited

S&P Ratings (China) Co., Ltd

Work highlights

  • Advised S&P Global in establishing its China subsidiary.

Hong Kong > Structured finance and securitisation

The ‘responsive and highly technical‘ team at Ashurst provides ‘innovative financing solutions‘ to Chinese and international buy and sell-side stakeholders across a range of derivatives and structured finance products. Team head Patrick Phua has an excellent perspective of regulatory and transactional matters relating to the onshore and offshore derivatives market, and is one of many in the team that has strong relationships with Chinese financial institutions. The arrival in November 2020 of Jonathan Chapman from King & Wood Mallesons has enhanced the firm’s ability to service international financial institutions, particularly on fixed income derivatives work. In addition to being adept at advising on sell-side matters, ‘very engaging and responsive‘ partner Priscilla Chen is well-known for her work on behalf of Chinese institutions as buyers of risk.

Practice head(s):

Testimonials

‘Responsive, very good technically and easy to work with.’

‘Their presence in Hong Kong and mainland China avails Chinese clients of innovative financing solutions and related legal advice.’

Work highlights

  • Advised a group of leading PRC banks for bespoke loan hedging for a power plant project finance in Bangladesh.
  • Advised a number of leading global investment banks entering into hedging arrangements in respect of the issuance of a high yield “green” bond by a Singapore private company.
  • Advised a leading Hong Kong securities company in amending the settlement mechanism of loan-linked structured notes issued under a repack note programme and early redemption of the notes and transfer of the underlying loan commitment.

Hong Kong > Banking and finance

Ashurst has a large team spread across Greater China, with outposts in Beijing, Shanghai and Hong Kong. Key areas of focus include project financing, real estate financing, margin loans, structured lending, fund financing and acquisition financing. Patrick Phua heads the team, he is the managing partner of the Beijing office and splits his time between Beijing and Hong Kong. Eric Tan and Daniel Lau, who also splits his time between Beijing and Hong Kong are key practitioners, both have considerable experience in the local market.

Practice head(s):

Patrick Phua (Beijing/Hong Kong)

Other key lawyers:

Eric Tan; Daniel Lau (Beijing/Hong Kong)

Testimonials

‘The strengths of the Ashurst banking practice are that they are solutions-driven’.

‘Eric Tan is knowledgeable and willing to go the extra mile’.

‘We really appreciate how they are able to coordinate internally to deliver cross-practice products effectively’.

‘Eric Tan is our preferred choice for banking deals. He is thorough, gives good advice and communicates well’.

‘We find the team to be accessible, practical with their advice and efficient with deal management’.

‘The team members are all at least trilingual and this helps with communications with different stakeholders within our company’.

‘Eric Tan is our go-to partner for banking deals. He consistently delivers impeccable quality, gets the work done and is exceptional with client care. ’

Key clients

Bank of China (Hong Kong) Limited

Banco Santander SA

China Construction Bank (Asia) Corporation Limited

Deutsche Bank

Natixis

DBS

Pacific Aegis Capital Management Limited

Shagang South-Asia (Hong Kong) Trading Co., Limited

Société Générale

Australia and New Zealand Banking Group

Work highlights

  • Advised Bank of China (Hong Kong) Limited and China Everbright Bank Co. Ltd. as mandated lead arrangers and bookrunners and a syndicate of banks in an up to HKD$8.7bn syndicated term loan facility to Fans Group Limited.
  • Advised Banco Santander, China Construction Bank, Natixis and 10 other banks on the EUR860m syndicated facility to CNCE Group (Hong Kong) Co Limited. CNCE Group (Hong Kong) Co Limited is a subsidiary of China National Chemical Corporation Limited, a Chinese state-owned chemical company.
  • Advised China Construction Bank (Asia) Corporation Limited as mandated lead arranger and bookrunner, lender and agent in an up to $400m (with an option of additional commitment) syndicated term loan facility to An Ke Technology Company Limited, a company indirectly owned by Ping An Insurance (Group) Company of China Ltd.

The firm: Ashurst is a leading global law firm advising local and global corporates, financial institutions and governments on their most complex transactions, disputes and projects. Founded in 1822, the firm today has more than 3,600 people, including over 450 partners, working across 29 offices in 17 countries, offering the reach and insight of a global network, combined with the knowledge and understanding of local markets. The firm brings together lawyers of the highest calibre with the technical knowledge, industry experience and regional know-how to provide the incisive advice clients need.

Ashurst Greater China: Ashurst’s Greater China practice consists of offices in Shanghai, Hong Kong and Beijing which were respectively established in 1998, 2008 and 2013. The firm provides premium support in all practice areas to clients in Greater China and the wider Asia Pacific. The Greater China team advises leading financial institutions, sovereign and investment funds, and corporates on the full array of high profile M&A, complex banking and finance, derivatives and structured products, debt and equity capital markets, projects, private equity, dispute resolution, regulatory and restructuring matters. In early 2018, Ashurst and Guantao Law Firm, a leading firm in China, launched a joint operation office (JOO) in China, allowing us to offer a truly one-stop service to clients that combines international expertise with full PRC law capability.

DepartmentNameEmailTelephone
Office Managing Partner, Beijing and Head of Global Loans and Global Markets, Asia Patrick PhuaPatrick.Phua@ashurst.com+86 10 5936 2888
Office Managing Partner, Hong Kon Ben HammondBen.Hammond@ashurst.com+852 2846 8914
Office Managing Partner, Shanghai Michael ShengMichael.Sheng@ashurst.com+86 21 6263 1818
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