Policy Chairman's response to The Times article: Shanghai grants licence to first western law
It is encouraging to see China taking a positive step towards greater liberalisation of its legal sector.
When it comes to legal services, London is a global leader and the industry helps cement our position as the number one world financial centre. Further opening up markets to international competition is key to Shanghai's economic ambition and thus presents new opportunities and challenges for both domestic and overseas companies.
Already more than 20 UK based legal firms have a presence in China and as the world’s second-largest economy, with an increasing need for professional advice, UK companies stand ready to offer their skills and expertise. Strengthening our links with Chinese firms, clients and legal institutions, and promoting use of English law, will certainly help UK firms stand out among our competitors.
Mark Boleat, Policy Chairman at City of London Corporation, EC2V 7HH