ESTABLISHED IN 1992
Managing Partner: Kong Xin, Wu Gang, Andrew Zhang
Number of partners: 150+
Number of associates: 600+
Firm Overview
Most firms provide legal advice; we deliver business solutions.
Established in 1992, Commerce & Finance Law Offices (C&F) was among the first Chinese law firms that supported companies with IPOs in capital markets at home and abroad. Dedicated to increasing its presence in the global market for commercial legal services, the firm has advised on a great many projects of such significant market impact that the entire industrial landscape has been reshaped, gaining strong recognition.
We understand the demands of our clients and provide them with high-quality legal services upholding the “client-oriented” belief. We boast a team of more than 700 professionals located in seven offices in Beijing, Shanghai, Shenzhen, Hong Kong, Chengdu, Hangzhou and Wuhan. We efficiently pool forward-looking commercial insights across major sectors and industries, and comprehensively mobilise firm-wide resources and wisdom in order to deliver the most up-to-date solutions in support of your commercial goals and aspirations.
We serve various types of clients including large state-owned enterprises (SOEs), public companies, financial institutions and private businesses. Through long-term and close co-operation with our clients, we have developed a deep understanding of their culture and operational model, based on which we can well serve their needs and goals. We maintain sound communication with our clients and work to maximise their interests. So far, we have served more than 5,000 clients worldwide and advised on nearly half of the IPOs in the Chinese, American and Hong Kong markets, having accumulated rich experience and earned wide recognition.
We have been ranked as one of the eight most prestigious “Red Circle” law firms in China by THE LAWYER, a leading rating media in the field of legal services, and consecutively ranked among the best in the industry by various international rating agencies.
Key Practice Areas
Domestic capital markets; Hong Kong and overseas capital markets; Banking and finance; Mergers & acquisitions; Private equity; Investment funds; Outbound investment; Foreign direct investment; Bankruptcy and reorganisation; New economy (TMT); Healthcare; Real estate and construction; Antitrust and competition; International trade/WTO; Compliance and government regulation; Cybersecurity and data protection; Litigation; Arbitration; Intellectual Property; Labour and employment; Securities compliance; Administrative and criminal action; Taxation and wealth planning.
Independent intelligence on this law firm
The following information is sourced directly from China Business Law Journal and/or Law.asia and is not part of the directory listing provided by the law firm.
Testimonials
The legal director of the investment banking department of a leading international investment bank praised Commerce & Finance, saying “the firm’s capability and track record is unquestionable”.
China Business Law Awards 2022
The anonymous referrer said: “Commerce & Finance Law Offices is exactly the law firm we need to further co-operate with, since it has provided us with outstanding legal services.”
China Business Law Awards 2022
Liu Yi Man, executive director and CEO of Edvantage Group, said: “[The transaction] was pressed for time, but Sun and his team proved their professionalism in resolving issues with the HKEX and SFC [Securities and Futures Commission].”
China Business Law Awards 2022
The project manager of a bank was very satisfied with the service provided by the law firm: “Commerce & Finance has assigned experienced, qualified and sufficient lawyers to fully engage in the project. The team provided high quality and efficient professional services to the company in various aspects, including due diligence, revision of corporate governance documents, meeting support, assistance to the authorities and the exchange in filings and feedback, in strict accordance with the requirements of relevant laws and regulations, with reference to market practices, and taking into account the actual situation of our company.” He also recommends Hou Qinghai, a Beijing-based partner of Commerce & Finance.
China Business Law Awards 2021
An in-house counsel of a joint venture, formed by a foreign investment and a financial group backed by the Chinese government, comments: “[Commerce & Finance] has demonstrated its professionalism and dedication in providing advice and services on compliance in specialised areas. Their feedback on relevant issues was timely and the operational recommendations made were practically feasible.” He also recommends Li Amin, a Shanghai-based partner of Commerce & Finance.
China Business Law Awards 2021
Helen Feng, CEO of ai-finance, says, “[Commerce & Finance’s team] is very familiar with the fintech sector and has been very responsible during the process. They are experienced in balancing the interests between state-owned and private parties and risk controls. They have proposed innovative solutions to solve problems and hastened the establishment of the joint venture.”
China Business Law Awards 2021
Xu Weijian, finance director of Lixiang Education, also highly praises the firm: “The Commerce & Finance team has been with us for three years. It is able to see the core of the issues and give professional advice in a timely and precise manner, and the company is very much appreciative of the team’s capabilities and its sense of service.” Xu recommends Wu Peng, a Beijing-based partner at Commerce & Finance.
China Business Law Awards 2021
Darren Wu, the legal director of Fibocom Wireless, recommends Guo Xiaoming, a partner of Commerce & Finance in Shenzhen: “[Guo Xiaoming] is modest, low key and pragmatic, with the elegance of a barrister. He continues to conduct forward-looking legal research in the areas of export control compliance, dispute resolution and intellectual property, leading the industry’s development and progress.”
China Business Law Awards 2021
A client in the biotech industry recommended Commerce & Finance’s Zhang Xiaoman, saying, “Every time we inquired about an issue, Mr Zhang responded patiently in a prompt manner, providing us with a great deal of support in terms of laws and regulations.”
China Business Law Awards 2019
Notable Deals
Recognised by China Business Law Journal as Deals of the Year
| LianBio offers shares on Nasdaq | 2022 | US$325 million | Details |
| NIO’s listing by introduction in HK, Singapore | 2022 | N/A | Details |
| ByteDance’s USD1.5bn acquisition of Amcare Healthcare | 2022 | US$1.5 billion | Details |
| M&A of Longyuan Power and Pingzhuang Energy | 2022 | N/A | Details |
| Shanghai Airport, Eastern Air Logistics JV | 2022 | N/A | Details |
| Redco’s tender offer and consent solicitations | 2022 | US$904 million | Details |
| Bilibili’s secondary Hong Kong listing | 2021 | US$2.5 billion | Details |
| Kuaishou Technology’s USD5.4bn Hong Kong IPO | 2021 | US$5.4 billion | Details |
| Trip.com lists in Hong Kong | 2021 | US$1 billion | Details |
| Energy China merges with Gezhouba | 2021 | N/A | Details |
| New Tianjin Steel’s mixed-ownership reforms | 2021 | US$3.1 billion | Details |
| Reorganisation of Bestway Marine | 2021 | US$157 million | Details |
| Weichai’s acquisition of Lovol Heavy | 2021 | US$155 million | Details |
| Cosco Shipping Development’s asset restructuring | 2021 | N/A | Details |
| Kangmei Pharma’s fraud liability dispute | 2021 | US$14.2 billion | Details |
| Nuclear company acquires Tsinghua Tongfang | 2020 | N/A | Details |
| China Bohai Bank’s Hong Kong Listing | 2020 | US$1.77 billion | Details |
| Trip.com Group issues exchangeable bonds | 2020 | US$500 million | Details |
| WIMI’s US public offerings | 2020 | US$26.1 million | Details |
| Yum China’s HK secondary listing | 2020 | N/A | Details |
| Bohai Steel Group’s reorganization | 2019 | N/A | Details |
| GIC acquires JD logistics warehouses | 2019 | N/A | Details |
| Kingsoft’s A-share listing on Star board | 2019 | N/A | Details |
| Canaan Technology’s Nasdaq listing | 2019 | US$400 million | Details |
| CanSino Biologics’ HK listing | 2019 | US$154 million | Details |
| CMGE’s Hong Kong listing | 2019 | N/A | Details |
| Jinxin Fertility Group’s HK IPO | 2019 | N/A | Details |
| Wanda Sports Group’s listing on Nasdaq | 2019 | US$190 million | Details |
| Ascletis Pharma’s Hong Kong IPO | 2018 | N/A | Details |
| China Tower’s Hong Kong IPO | 2018 | US$6.9 billion | Details |
| COSCO Shipping Holdings and Shanghai International Port jointly acquire Orient Overseas (International) | 2018 | N/A | Details |
| Qihoo 360 Technology’s A-share backdoor listing | 2018 | N/A | Details |
| China Resources Healthcare acquires Phoenix Healthcare | 2017 | N/A | Details |
| China Unicom’s mixed-ownership reform | 2017 | N/A | Details |
| Maoyan Media and Weiying Technology strategic partnership transactions | 2017 | N/A | Details |
| CEXIM sets up overseas EFP programme | 2017 | N/A | Details |
| Kaisa Group’ exchange offer and new issuance | 2017 | N/A | Details |
| State Grid issues US$7.7 billion medium term note | 2017 | N/A | Details |
| China Tower acquires tower assets of three telecom companies | 2015 | N/A | Details |
| Cheung Kong and Hutchison’s reorganization spin off and listing | 2015 | US$54.2 billion | Details |
| Dongfeng Motor’s equity investment in PSA Peugeot Citroen Group | 2014 | US$2 billion | Details |
| Baidu’s notes offering on NASDAQ | 2014 | US$1 billion | Details |
| WH Group’s HK IPO | 2014 | US$2.36 billion | Details |
| Bank of China’s offshore issuance and HK IPO | 2014 | US$6.5 billion | Details |
| Greenland’s bond offering | 2014 | US$1 billion | Details |
| COSCO Hong Kong’s indirect acquisition of 21.8% stake in CIMC | 2013 | US$1.2 billion | Details |
| Beijing Capital Land’s issuance of RMB2 billion guaranteed bonds | 2013 | US$327.9 million | Details |
| China Vanke’s establishment of US$2 billion guaranteed medium term note programme | 2013 | US$2 billion | Details |
| Forgame’s Hong Kong IPO | 2013 | US$206 million | Details |
| CIMC’s landmark B-share to H-share Listing | 2013 | US$1.8 billion | Details |
| China Galaxy Securities’ Hong Kong IPO | 2013 | US$1.1 billion | Details |
| Sinopec’s US$3.1 billion private H-share placement | 2013 | US$3.1 billion | Details |
| Chow Tai Fook lists in Hong Kong | 2012 | US$2 billion | Details |
| New China Life Insurance lists in Hong Kong | 2012 | US$1.9 billion | Details |
| Shuanghui’s general offer | 2012 | US$5.07 billion | Details |
Contact us
Beijing Head Office
12-14th Floor, China World Office 2
No. 1 Jianguomenwai Avenue
Beijing 100004, China
Telephone: +86 10 6563 7181
Fax: +86 10 6569 3838
Email: beijing@tongshang.com
Shanghai
10/F, Tower 1, Jing An Kerry Center
1515 West Nanjing Road
Shanghai 200040, China
Telephone: +86 21 6019 2600
Fax:+86 21 6019 3278
Email: shanghai@tongshang.com
Shenzhen
23/F, Building A, CASC Plaza
No. 168 Haide 3rd Road, Nanshan District
Shenzhen 518067, China
Telephone: +86 755 8351 7570
Fax: +86 755 8351 5502
Email: shenzhen@tongshang.com
Hong Kong
29/F, 238 Des Voeux Road Central
Hong Kong
Telephone: +852 2151 5150
Fax: +852 2151 5158
Email: hongkong@tongshang.com
Chengdu
33/F, Building B, Twin Rivers International
No.535 Tianfu 1st Street, High-tech District
Chengdu 610000, China
Telephone: +86 28 6753 5588
Fax: +86 28 6753 5588
Email: chengdu@tongshang.com
Hangzhou
12/F, Zhongtian Guokai Building
69 Chengxing Road, Qianjiang CBD
Shangcheng District, Hangzhou 310020, China
Telephone: +86 571 8829 8760
Fax: +86 571 8888 8888
Email: hangzhou@tongshang.com
Wuhan
27/F, Pingan Finance Centre
No.1628 Zhongshan Avenue
Jiang’an District, Wuhan 430010, China
Telephone: +86 27 8288 3835
Fax: +86 27 8288 7122
Email: wuhants@tongshang.com
Website
http://www.tongshang.com
