Hong Kong at the crossroads

Dominic Carman

Featured in our Offshore Report (April 2021)

The big offshore law firms maintain a strong presence in Hong Kong, which continues to generate an enormous flow of work in deals, disputes, finance, funds, listings and private wealth. Collectively, their local offices have expanded over recent years to surpass the 300-lawyer mark, making it the third most-heavily lawyered jurisdiction by offshore firms after Cayman and Jersey.

But Hong Kong is a city in transition as the People’s Republic of China (PRC) increasingly flexes its muscles in this unique Special Administrative Region (SAR). Indeed, 2022 will mark the halfway point of “one country, two systems”: the guiding principle for Hong Kong since it ceased to be a British colony.