US law firms shrink China footprint as investment decline hurts business
At least four US-based civil law firms have closed offices in China this year, the Post has confirmed
Slowing investments in China by American corporate clients and intensified local competition have prompted US-based civil law firms to continue to reduce their presence in China.
At least four US-based civil law firms which focus on corporate clients – Morrison Foerster, Perkins Coie, Sidley Austin and Weil, Gotshal & Manges – have closed offices in China this year, the Post has confirmed.
This came after the China Business Law Journal reported in July that six US law firms, including the four firms who had replied to the Post, had closed offices in Beijing, Shanghai and Hong Kong this year following closures by four different firms in 2023.
The Philadelphia-founded Dechert has withdrawn from the China market entirely after closing its offices in Beijing and Hong Kong, the journal said. The firm was also slated to close its office in Chicago.
Winston & Strawn also closed its Hong Kong office last year, but has maintained its operation in Shanghai, according to the journal.
