Fangda's Financial Industry Group regularly advises domestic and international clients on the most complex and cutting-edge legal issues in the financial services sector in China. We are renowned for our participation in most of the market-leading deals, for our deep understanding of the financial services sector in China, and for our ability to help clients navigate complex financial services regulatory environments.
Fully fledged services
We offer fully fledged services relating to financial institutions and the Chinese financial market, ranging across regulatory work, financial transactions and contentious matters. We also advise Chinese financial institutions and investment companies on their outbound activities in the financial services sector. Our clients include all key participants in the financial services sector, including investment banks, asset managers, commercial banks, financial sponsors, alternative fund managers, insurers and fintech companies. In addition to licensing, governance, product, marketing, compliance and general regulatory issues, we also advise clients on new issues with the emergence of fintech, including blockchain, e-signature, big data, data privacy, cybersecurity and other related issues.
Highly experienced team
Our team comprises leading lawyers who have extensive experience in advising financial institutions on regulatory and M&A matters. Our team has developed longstanding relationships with many of the leading international and domestic financial institutions and know their businesses well. We offer a unique combination of international execution capabilities and in-depth understanding of domestic markets and regulations to ensure that matters are efficiently and effectively handled in each client’s best interests.
Ability to effectively balance client business needs with regulatory compliance
We have developed close working relationships with many of the regulatory bodies in China over many years. This experience enables us to provide clients not only with tailored strategic advice but also with well-informed tactical advice. We bring a practical and business-oriented approach to our full range of commercial legal services. In providing our services, we always balance client business needs with regulatory compliance.
Our all-round business areas:
Recognition
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- National Law Firm of the Year: China
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IFLR1000 Asia-Pacific Awards, 2019, 2022, 2023
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- Firm of the year - Shanghai
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IFLR1000 China Awards, 2021, 2022
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- Financial Services M&A Legal Adviser of the Year
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Mergermarket China M&A Awards, 2020, 2021
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- M&A Legal Adviser of the Year
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Mergermarket China M&A Awards, 2020, 2021
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- Finance Firm of the Year
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Asia Legal Awards, 2021
Notable Matters
Our experience includes advising:
- Represented Citi in the sale of its retail banking business in China
- Represented an international bank in the sale of its retail banking business in China
- Represented the majority offshore shareholder of an auto finance company in the sale of equity to a local Chinese company
- Represented DBS Bank in its acquisition of Shenzhen Rural Commercial Bank and in its following purchase of existing shares of Shenzhen Rural Commercial Bank from a Chinese shareholder
- Represented a leading fintech company in its various internet-based financing services offered in China and globally
- Represented Central Huijin Investment in its acquisition of the controlling stake in Hengfeng Bank by subscribing to 60 billion newly issued ordinary shares
- Represented Chengfang Huida in its participation in the risk resolution of Bank of Jinzhou
- Represented UBS in its USD 2 billion pre-IPO investment in the Postal Savings Bank of China
- Represented Citibank, as consortium head, in the USD 3.06 billion acquisition of a stake in Guangdong Development Bank
- Represented Newbridge Capital in its acquisition of the controlling stake in Shenzhen Development Bank, the first time a foreign investor had been permitted to obtain the controlling stake in a China-listed commercial bank
- Represented UBS in its USD 500 million strategic investment in the Bank of China and in its subsequent sale of its shares following the expiry of the lock-up period
- Represented Fudeng Financial Holding Co. and Bank of China in their RMB 1 billion joint acquisition of the equity held by China Development Bank in 15 rural banks
- Represented Dah Sing Bank in its strategic investment in Chongqing Commercial Bank
- Represented ANZ in selling its retail and wealth management businesses in China to DBS Bank
- Represented China Construction Bank in its acquisition of Banco WestLB do Brasil, a subsidiary of WestLB in Brazil
- Represented J.P. Morgan and Citibank in the conversion of a commercial banking branch in China into a wholly owned subsidiary
- Represented UBS and Founder Securities in the sale of their stake in Credit Suisse Securities to Beijing State-owned Asset Co.
- Represented a leading securities market maker in the establishment of its 100%-owned securities firm in China
- Represented SCB in the establishment of its 100%-owned securities firm in China, which became the first greenfield wholly foreign-controlled securities company after China formally removed limits on foreign ownership
- Represented BNP Paribas in the establishment of its 100%-owned securities firm in China
- Represented Nomura in establishing its full-service securities joint venture in Shanghai,which became the first non-CEPA foreign controlled securities company after China formally issued its policy to allow such investment
- Represented J.P. Morgan in the establishment of its foreign-controlled full-service securities joint venture in Shanghai
- Represented DBS in the establishment of its foreign controlled full-service securities joint venture in Shanghai
- Represented UBS in the establishment of its foreign controlled full-service securities joint venture in China
- Represented Credit Suisse in its equity step-up from 33% to 51% and further equity acquisition in its existing securities joint venture in China
- Represented HSBC in the establishment of its controlled full-service securities joint venture under the CEPA regime
- Represented China Renaissance in the establishment of its controlled full-service securities joint venture under the CEPA regime
- Represented Royal Bank of Scotland in its establishment of a securities joint venture in China and its subsequent exit
- Represented a global investment bank in the establishment of the first indirectly foreign-controlled securities joint venture in China
- Represented Citigroup Global Markets Asia in the establishment of its securities joint venture in China
- Represented Morgan Stanley in establishing its securities joint venture in China and in subsequently increasing its equity in the joint venture
- Represented CLSA in its establishment, restructuring and disposal of its securities joint venture in China
- Represented Morgan Stanley in its establishment of a wholly foreign-owned futures company in China
- Represented J.P. Morgan in its acquisition of a 49% stake in a PRC futures company and in its further step-up to acquire the remaining 51% stake
- Represented UBS Securities in its acquisition of a 66.7% stake in a PRC futures company
- Represented UBS in its strategic investment in Cinda Asset Management, which has as a subsidiary a controlled futures company
- Represented ABN AMRO in its acquisition of 49% of the equity interest in a futures company inChina and represented RBS on the subsequent shareholding matters related to the futures company
- Representing an international fund manager in its potential acquisition of an interest in a fund management company in China
- Representing an international fund manager in its potential acquisition of a majority interest in a fund management company in China
- Representing a US-headquartered fund manager in a potential equity increase in a fund management company in China
- Representing an international bank in its sale of an interest in a fund management company in China
- Represented BlackRock in its establishment of a foreign-controlled wealth management joint venture, BlackRock CCB Wealth Management, together with CCB WealthManagement and an affiliate of Temasek
- Represented an international asset manager in a potential wealth management joint venture with PSBC Wealth Management and DWS
- Represented an international bank in the proposed establishment of a wealth management joint venture with a PRC insurance asset management company
- Represented BlackRock in its establishment of a wholly foreign-owned fund management company, BlackRock Fund Management Company
- Represented SG Asset Management in its establishment of an FMC with Fortune Trust Investment and in its subsequent increase of its equity interest inthe FMC to 49%
- Represented Credit Agricole S.A. in its establishment of a fund management joint venture with Agricultural Bank of China Limited
- Represented Credit Suisse First Boston in its joint venture with ICBC, the first fund management joint venture between a domestic bank and a foreign fund manager
- Represented JPM in its equity step-up in its fund management joint venture with a PRC SOE
- Represented Guotai Junan Securities in its acquisition of 49% equity interest in CPIC Fund Management Co. from Allianz SE
- Represented Morgan Stanley in its equity step-up from less than 50% to 100% in its fund management joint venture with a PRC SOE and a PRC private company
- Represented Warburg Pincus in its investment in Zhong Ou Asset Management
- Represented Warburg Pincus in the sale of a portion of its equity interest in Hwabao WP Fund Management Company
- Represented UBS in the establishment of an online innovative wealth management platform
- Represented an international fund manager in the potential acquisition of an interest in a third-party wealth management company in China
- Represented UBS in the purchase of a 49% stake in UBS SDIC Fund Management, the first foreign investor to hold the maximum equity percentage permitted by law at thattime
- Represented UBS in FMC-related regulatory filings in connection with its takeover of Credit Suisse
- Represented Nikko Asset Management in its acquisition of a 40% stake in Rontong Fund Management
- Represented SG in its sale of an interest in Hwabao Fund Management Company to Warburg Pincus
- Represented an international asset manager in a potential investment in Everbright Wealth Management
- Represented Citi in its sale of a retail banking business that included wealth management business in China
- Represented an international bank in its sale of a retail banking business that included wealth management business in China
- Representing an insurance group in the proposed sale of 100% shares in a pension insurance company
- Representing multiple investors in their participation in the risk asset disposal of several life insurance companies
- Represented Generali in acquiring 51% of Generali China Insurance Company Limited, becoming its 100% shareholder
- Represented Central Huijin in the establishment of Zhonghui Life Insurance Co., Ltd. with China Insurance Security Fund Co., Ltd. and in the risk disposal of Tian An Life Insurance Co.
- Represented CICC in its investment in and its establishment of National Pension Insurance Company Ltd. with multiple financial institutions
- Represented a consortium in its proposed acquisition of the controlling stake in a domestic insurance group, which held P&C insurer, life insurer, pension insurer and asset management licenses
- Represented Shanghai Insurance Exchange in revising and translating rules and template agreements in connection with the newly launched international board for reinsurance trading in Shanghai
- Represented the Insurance Association of China and multiple other insurance institutions in formulating industry guidelines, Q&As and norms
- Represented China Ping An Life Insurance in its acquisition from CapitaLand of majority stakes in six Raffles City complexes in China
- Represented China Ping An Life Insurance in its acquisition of Zhengzhou Ping An Financial Center
- Represented China Ping An Life Insurance in its acquisition of RAYZONE, a WELL+LEED office building located in Lize Financial Business District of Beijing
- Represented a foreign insurance group in its establishment of a wholly foreign-owned insurance broker in China
- Represented Morgan Stanley in its investment in Zhong An Insurance, the first insurance company in China approved to conduct internet insurance businessRepresented CP Group in its acquisition of a 15.57% stake in Ping An Insurance Group
- Represented BNP Paribas Cardif in its acquisition of a 50% stake in ING-BOB Life Insurance Company from ING
- Represented Carlyle Group in its initial 24.9% investment in China Pacific Life Insurance as a strategic investor, and in the subsequent conversion of its investment to a 19.9% share in the parent company, China Pacific Insurance
- Represented National Trust in its establishment of a Sino-foreign life insurance joint venture with HSBC
- Represented a Fortune 500 private group in its proposed investments in the European insurance sector, including acquisition of majority shares in three insurance companies/service platforms, and in its public offer to acquire shares in a listed insurance company via competitive bid
- Represented Central Huijin in the risk disposal of China Great Wall Asset Management Corporation (AMC)
- Represented the local government in the restructuring of Huaxin Trust
- Represented a strategic investor in the risk disposal and restructuring of Sichuan Trust
- Represented investors in the risk disposal and restructuring of Xinhua Trust
- Represented Shanghai Electric and other investors in the risk disposal and restructuring of Anxin Trust
- Represented a domestic investor in the acquisition of the controlling stake in a trust company
- Represented J.P. Morgan in its investment in Bridge Trust Company
- Represented Bank of Montreal in its investment in COFCO Trust Company
- Represented Royal Bank of Scotland in its acquisition of a stake in Suzhou Trust Company and in its subsequent sale of that stake
- Represented Barclays Bank in its acquisition of a 19.5% shareholding in New China Trust & Investment
- Represented Morgan Stanley in its investment in Hangzhou Trust
- Represented a leading fintech company inits day-to-day domestic business related to financial activities andinternational expansion
- Represented Zhongmiao InnovationTechnology (Qingdao) in listing on the HKEX
- Represented UBS in establishing aninnovative wealth management online platform and successfully obtaining a funddistribution license
- Represented Tengyin, a renownedFintech company, in its series B funding
- Represented HKEX in its acquisition ofa 51% interest in Shenzhen Ronghuitongjin Tech
- Represented Ipreo in its establishmentof a Sino-foreign joint venture with Hundsun to deliver an electronicbookbuilding solution for bond syndication in China
- Represented an international client inits investment in Lufax, an online wealth management platform
- Represented Warburg Pincus in itsinvestment in Cango, a leading automotive finance service platform in Chinausing cloud-based infrastructure
- Represented Morgan Stanley in itsinvestment in Zhong An Insurance
- Represented QTrade in its businesscooperation with Tencent for establishing a financial marketinformation-sharing platform
- Represented a global financial serviceprovider in the proposed offer for sale of a number of trading platforms on across-border basis
- Represented a leading investment bank insubscribing to a fintech company’s series A+ funding
Our regulatory services include assisting with drafting and negotiations as well as with the following:
- Assisting clients in obtaining regulatory authorizations and completing all legal and compliance steps
- Structuring PRC financial market acquisitions and joint ventures, as well as conducting licensing, approval and filing procedures
- Providing strategic advice and tactical analysis for businesses providing financial services in China
- Supporting financial institutions including banks, securities and fund managers, insurance companies and representative offices of foreign banks in their ongoing China activities and operations, including trading, clearing and settling domestic securities, futures, commodities and currency products
- Advising on financial services such as factoring, auto finance, financial leasing, and supply chain finance
- Advising on fintech, including blockchain, e-signature, data privacy, big data, financing, licensing, and security and operational issues
- Advising on market misconduct, including misrepresentation, short selling, insider trading, and market manipulation
- Advising on foreign exchange issues
- Assisting with cross-border investment activities conducted through, for example, the QFII and QDII schemes and the CDR, stock, bond and wealth connects
- Advising on market access to, and risks associated with, the exchange clearing system and clearing houses in China
- Responding to regulatory investigations into securities investment, asset management, banking, foreign exchange, and money laundering
- Conducting complex cross-jurisdictional investigations and responding to regulatory enforcement actions
- Conducting in-depth reviews of financial institution the corporate governance, including systems and controls requirements, assisting with establishing reporting structures and decision-making processes, and advising on board and committee regulation
- Advising on system deployment, data storage and security, cross-border data transfer, and privacy protection, including mandatory requirements and best practices
