The formation of the Greater Bay Area is a vital aspect of the strategic economic growth plan for China and, in particular, Hong Kong, which is designated to play an important role in the provision of legal services.
With its internationally recognized legal and dispute resolution system, Hong Kong is envisioned to become the arbitration center for the whole of the GBA. Stephenson Harwood, an international law firm with eight global offices and more than 190 partners, has front-row seats to these exciting developments.
“The GBA is key to Stephenson Harwood’s strategy. We opened in Hong Kong in 1979 and Guangzhou in 1996. In 2016, we entered into a CEPA (Closer Economic Partnership Agreement) association with Wei Tu Law Firm in Guangzhou, where we operate — providing English, Hong Kong and Chinese legal advice and representation — as the Stephenson Harwood-Wei Tu (China) Association. Lawyers in our Hong Kong office have been among the first to pass the new GBA lawyer exams, allowing them to practice in the GBA,” shared Andrew Rigden Green, a Chartered Institute of Arbitrators fellow, partner and head of international arbitration at Stephenson Harwood, Hong Kong.
Rigden Green notes that Hong Kong’s legal and court system remains “very firmly separate” from mainland China with “judges from all across the common-law world, not just Hong Kong.”
He points to arbitration as crucial to the independence of Hong Kong’s legal system.
“The Hong Kong International Arbitration Centre is one of the world’s most respected arbitral institutions and draws arbitrators from across the globe,” he said.
“Two cutting-edge legal developments strengthen this: a law simplifying enforcement of Hong Kong arbitration awards in China, and a new law on preserving assets or evidence in China in support of Hong Kong arbitration. This is a game changer for any business with counterparts in China, as they will be able to obtain security and evidence. This procedure is not available for arbitration in any other part of the world,” he added.
“We have worked very closely with Japanese clients for many years, particularly in the finance, trade and maritime sectors, key sectors for the GBA. These legal changes in Hong Kong and the GBA, alongside Stephenson Harwood’s close relationship with Japanese clients and long experience in the region, will be keys to our clients’ success in the GBA.”
