The Hong Kong Bar Association (the HKBA) signed a Memorandum of Understanding (MoU) with the Hong Kong Chinese Enterprise Association (the HKCEA) through its Special Committee on China Practice Development to facilitate cooperation between Hong Kong barristers and legal professionals. This was done with a view to cementing a framework which would assist Chinese enterprises in their efforts to go outbound and invest overseas.
The MoU was signed on 17th January 2017, by the Chairman of the Special Committee on China Practice Development of the HKBA- Dr William M.F. Wong, S.C. and the Chairman of the Hong Kong Chinese Enterprise Association- Mr Du Chun, in the presence of legal delegates.
Ms Winnie Tam, S.C., the Chairman of the HKBA described the agreement as a milestone as it provides an optimal opportunity for barristers in Hong Kong and legal teams from China to collaborate with a view to supporting China in its integration with the global community.
Given their expertise in overseas finance investment, cross-border mergers and acquisitions, intellectual property and trade disputes, barristers from Hong Kong could potentially make a significant contribution to the expansion of Hong Kong Chinese enterprises into foreign markets.
Solicitor General of the department of Justice, Mr Wong Wai Chung and Deputy Director of the Legal Department of the Liaison Office of the Central People’s Government in the HKSA, Mr Yu Xue Jie, also anticipated further cooperation in the context of China’s 13th Five-Year Plan and the One Belt and One Road initiative.*
* Please refer to Tai Kung Pao ”大律師公會中企協簽合作備忘”, 18/01/2017