Founded in 1992, Commerce & Finance Law Offices is active in key areas of transactional law, especially in the overseas capital markets. Headquartered in Beijing, the firm also has branch offices in Shanghai and Shenzhen.
Focusses / specialisms
Commerce & Finance’s core practice areas cover securities, investment, banking and finance, and M&A. It has a traditionally strong IPO practice and is recognised as a market leader in this area. The firm has participated in many landmark listings and reorganisations of state-owned and private enterprises.
Key clients
The firm’s notable clients include NIO, China Energy Engineering, Ningbo Zhoushan Port, Guizhou Branch of Agricultural Bank of China, Yunnan Branch of Agricultural Bank of China, the Export-Import Bank of China, Industrial and Commercial Bank of China, Chengdu Branch of Agricultural Bank of China, BOCOM Financial Asset Investment and International Alliance Financial Leasing.
Research period review: 33rd edition (2022/2023)
Commerce & Finance Law Offices is a go-to firm for many top-notch banks. Among the publishable transactions, the team assisted the Export-Import Bank of China in issuing green agency bond of Rmb5 billion for “carbon neutrality” in the national interbank bond market through Bond Connect. This issuance attracted more than 70 investment institutions and participation from more than 10 financial markets including Europe, Japan and the US.
On capital markets side, the team is well-recognised by peers and clients during the research cycle. The firm assisted co-sponsors Morgan Stanley, Credit Suisse and China International Capital Corporation in electric vehicle producer NIO’s secondary listing in HKSE in early 2022; and assisted co-issuing managers Credit Suisse and Goldman Sachs in NIO’s secondary listing in Singapore in May 2022. The firm advised Ningbo Zhoushan Port in completing its non-public issuance of A-shares totalling Rmb20 billion.
In late 2021, the firm assisted CICC, the financial adviser of H-share listed China Energy Engineering Corporation (CEEC), in CEEC’s share exchange and merger of A-share listed Gezhouba Group. The share exchange and merger amounted to Rmb120 billion, and it was the first occasion of H-share listed companies merging with A-share listed companies. After the merger, Gezhouba terminated its listing and CEEC took over all the assets and liabilities from Gezhouba.
Deal highlights: 33rd edition (2022/2023)
NIO’s secondary listing in Hong Kong and Singapore.
Export-Import Bank of China’s Rmb5 billion bond issuances.
Ningbo Zhoushan Port’s non-public A-share offering.
Super Hi International Holding’s Hong Kong listing.
Hainan Strait Shipping and Guangdong Xuwen Strait’s joint venture.
Client feedback: 33rd edition (2022/2023)
M&A
“Professional and conscientious.”
Lawyer feedback: 33rd edition (2022/2023)
Priscilla Lee
“Priscilla is quite professional and conscientious, with excellent analytical and problem-solving skills.”
