Here’s the intro to the report…We don’t want to bring anybody down and especially all the worker bees who had so much fun calling China firms and compiling the report.
But do remember this is a country that appears to run the same trade and growth figures quarter in and quarter out and has a banking industry piling out numbers than only the most naive can truly believe.
We would suggest that China firms are growing and in the main to mergers or acquisitions of other firms rather than any efficiency in generating fees
The Lawyer write..
China’s top grossing firms made 55 per cent more money in 2015 than two years previously, exclusive research by The Lawyer has revealed.
The Lawyer’s third edition of the China Top 30 report – an annual ranking and analysis of China’s leading law firms – found the combined revenue jumped from RMB12.95bn (£1.5bn) in 2013 to RMB20.16bn (£2.3bn) in 2015.
Revenue growth was largely fuelled by recruitment efforts including national expansion through regional bolt-ons.
The total number of lawyers in the top 30 firms increased by around 36 per cent in the same period, to 23,023.
In the two year time period many of the firms opened offices overseas or joined forces with established international firms.
Dentons (formerly Dacheng), King & Wood Mallesons (KWM) and Zhong Lun once again claimed the top three spots in the league table by total revenue, following double-digit revenue hikes.
Dentons, the biggest Chinese firm by revenue, saw its 2015 revenue grow by 29 per cent to RMB2.9bn from RMB2.25bn in 2014. KWM’s revenue increased at a slightly faster rate of 30 per cent to RMB2.1bn. Zhong Lun, the smallest of the top three, recorded the fastest growth, up 34.4 per cent to RMB1.98bn.
