Major international law firms are said to be examining with great interest details on reforms to the Chinese legal market which were unveiled at the weekend.
As part of the Closer Economic Partnership (CEPA) arrangement between Hong Kong and mainland China, from January 1, 2004, Hong Kong law firms will be permitted to form alliances with Chinese firms.
However, only lawyers born in Hong Kong will be allowed to re-qualify to practice local law on the mainland, and even they will only be permitted to practice commercial law.
In the run-up to the introduction of these reforms next year, many US and UK law firms are looking to register locally as Hong Kong practices in order to take advantage of the opening-up of the Chinese legal sector.
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