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US law firm Coudert Brothers LLP is planning to expand in China, in a bid to seize more of the country's booming legal market.
"We are preparing to open a new office later this year in the western part of China, most likely in Chengdu, capital of the southwestern Sichuan Province," said Tao Jingzhou, managing partner of the firm's Beijing office.
The leading US law firm has filed the application with the local government and expects to be approved soon.
"With the most dynamic economy on earth, China is the world's largest potential market for legal services," Tao said.
Demand for legal support is rising on the Chinese mainland while foreign investment in the area has been increasing over recent years, Tao said.
But few foreign law firms focus their businesses in that region.
"The time is right for us to set up the fourth office in the country," Tao said.
As the first foriegn law firm to enter the Chinese market in 1979, the 150-year-old firm has set up three offices, in Beijing, Shanghai and Hong Kong.
"In the next five to 10 years, one of our priorities is to expand our business in China," said David Huebner, chairman of Coudert Brothers LLP.
Huebner said in the past three to four years, Coudert's China practice has been one of the best of all its 30 offices worldwide.
The company is going to bring a legal expert in anti-dumping laws from its Washington office to Beijing to meet the legal service demands raised by increasing trade disputes after the country entered the World Trade Organization (WTO).
"With both local and international anti-dumping expertise in our Beijing office, we expect our Chinese practice to become a leader in representing Chinese companies in trade disputes, whether they occur in China or elsewhere in the world," he said.
The company has represented Chinese enterprises in more than 10 accusations brought by the European Union against dumping.
From handling these cases, Tao found Chinese enterprises have begun to use WTO rules to protect themselves. But there are still a lot to learn from them, Tao said.
For long-term development, Coudert plans to forge a joint venture with local partners in China, as they expect the central government to create new policies in two years.
"One of the best ways for foreign law firms to stay in China is to become fully local," said Tao.
Statistics show that more than 110 foreign law firms from 16 countries have set up offices in China by the end of last year, but many did not fare very well.
(China Daily April 12, 2004)
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