De Wolf & Partners establishes a branch office in Shenzhen
September 30, 2013 Category Members' News, Weekly
De Wolf & Partners, a Structural Partner of the Flanders-China Chamber of Commerce (FCCC), announced the opening of a new branch office in Shenzhen (Guangdong province). This is the second office in China for De Wolf & Partners. The Shanghai office was established in 2007, when Philippe Snel, the firm’s Resident Partner in China, joined the firm. This office is mainly focusing on providing assistance to European companies doing business in or with China, helping them to find a way through the maze of Chinese regulations and administrations. In more recent years the firm has also been involved in advising Chinese companies with respect to their European (or even African) investments.
“Currently the balance is about 80% work for inbound (to China) clients versus 20% for outbound (Chinese) clients, but we expect that outbound investment will continue to grow in the years to come” predicts Philippe Snel. “In fact inbound and outbound investment to, respectively from, China are very much interconnected” he adds, “being successful on the inbound business allowed us to become well acquainted with the local business practices and more importantly helped us to establish our business network in China, which network is now steadily feeding our outbound practice.”
The Shenzhen office will be catering its services to European companies who are investing or developing their businesses in the South of China, with a particular interest for those companies who are currently doing business in China from their Hong Kong base. However, the focus of the Shenzhen office will also be to provide assistance to Chinese enterprises from the region, which are expanding their business activities to Europe.
Why Shenzhen?
Philippe Snel explained: “Shenzhen holds a unique position in China. It is located at the hearth of the Pearl River Delta, the economic powerhouse of Southern China, yet is only a stone-throw away from Hong Kong, the financial hub for China and beyond. Moreover, it is home to some of the most advanced Chinese companies, eager to further their international expansion. We have been active in this area for many years already, and now we are eager to really become part of this thriving business hub. We want to put the focus on outbound investment as there is more and more demand. Europe is viewed by Chinese investors as a safe, stable destination for investment. It has a large consumer market for sales of goods and services, as well as advanced technologies, an educated workforce and desirable brands that could be acquired to help their competitiveness both domestically and internationally. Operating in the EU, however, is not considered easy and there are numerous obstacles often relating to bureaucratic procedures and high costs.”
“A lot of trading companies do not protect themselves and face problems afterwards. By being present, we can work preventive and assist them. Shenzhen is definitely one of the hotbeds for Chinese outbound investment. In particular Shenzhen companies appreciate our expertise in the field of intellectual property and technology transactions.”
Inauguration office
The office was inaugurated in the beginning of June in the presence of the Consul General of Belgium in Guangzhou, Mr Jan D’Halleweyn. Preceding the inauguration, the Consul General together with De Wolf & Partners and in collaboration with the Brussels, Flanders and Walloon investment agencies, hosted an event for more than 50 Chinese investors and entrepreneurs presenting the interest of Belgium as a base for their M&A activity in Europe. At this occasion Luc Stalars, Managing Partner of De Wolf & Partners, declared: “We were the first Belgian law firm to register an office in China in 2007. Today, we are the first European law firm to establish a presence in Shenzhen. This new development bears testimony of our firm’s strong commitment to China and of our determination to provide even better service to our Chinese clients who are venturing their businesses in Europe.”
For more information on the Shenzhen office: Yves Tavernier (yves.tavernier@dewolf-law.be), Partner of De Wolf & Partners Brussels or Philippe Snel (philippe.snel@dewolf-law.cn), Partner of De Wolf & Partners Shanghai/Shenzhen. Website: www.dewolf-law.com
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