Dacheng is singled out for its ‘rich industry experience and project experience’. The sizeable team which has an impressive network of offices across China, has a strong securities practice. The team is regularly instructed on IPOs, and refinancing in domestic and overseas markets. Based in Beijing, Joanna Liu assists listed companies with restructuring and reorganisation projects, and termination of VIE and red-chip-related structure issuers. Qing Guo, a specialist in asset securitisation, regularly advises on credit asset securitisation projects. Meanwhile, in Shanghai, Frank Qu is experienced in issuing non-performing asset-backed securities and bond issuance, and Enshun Wang recently advised a wholly foreign-owned enterprise in an IPO on the STAR Market and advised on a number of restructurings of listed companies.