Do NASDAQ and NYSE market themselves in China?
NASDAQ has a representative office in China. And I think NYSE is planning an official presence soon. Other stock exchanges are also marketing themselves in China. Do you think that Chinese law firms are becoming more like U.S. firms with stratification between the top 10 and the top 100? Today there are many Chinese law firms, and the difference between the top and the bottom is huge. According to Chinese law, one of the prerequisites for setting up a law firm is that you have three qualified lawyers—which is a low bar. I would estimate that perhaps 50 or 60 percent of firms are composed of just three lawyers. But in the leading firms, such as King & Wood, there are more than 100 fee earners with offices throughout the country and abroad. What do you think are the biggest challenges that face you as a Chinese lawyer today? Keeping up with the latest developments in Chinese law is a challenge. Chinese law has evolved over the past decade into a sophisticated system in which literally, e
