China "Firsts"

The success of our China Team is a direct result of a long-term commitment to the China market, a legacy of important local relationships and more than three decades of pioneering legal strategies in one of the world's most dynamically changing business environments.  As members of the firm that opened the first offices of a foreign law firm in China (Beijing 1979, Shanghai 2001) and Hong Kong (1972), Orrick's China lawyers provide an impressive and unmatched history of proven experience helping local and international clients complete the following "first" commercial events that are key achievements in the economic history of China:

• First wholly foreign-owned business in China.
• First foreign equity joint venture under China's Joint Venture Law.
• First cross-border future flow securitizations in the People's Republic of China.
• First acquisition of an existing Chinese factory and operating business by a foreign company.
• First limited recourse project financing in China.
• First overseas listing of a Chinese enterprise—a dual listing in Hong Kong and New York relating to the company's initial public offering.
• First CMBS in the People's Republic of China.
• First foreign lawyers to act as counsel in connection with the issuance of Renminbi B shares to overseas investors on the Shanghai and Shenzhen stock exchanges.
• First bank loan to a Chinese joint venture.
• First offshore hedge funds in Asia.
• First conversion of an H Share company from the Growth Enterprise Market to the Main Board of the Stock Exchange of Hong Kong.
• First joint venture bank in China.
• First swap agreement with a Chinese borrower.
• First privatization of an H share company dual-listed in Hong Kong and New York, involving the first delisting of H shares from the Hong Kong Stock Exchange and American Depository Receipts from the New York Stock Exchange.
• First motion picture joint venture in China.
• First internal investigation of a Chinese domestic bank by a foreign law firm.
• First judicial liquidation of a Chinese joint venture.
• First syndicated note purchase agreement for a Chinese issuer.
• First successful spin-off from a GEM-listed company.
• First offshore oil concession to a U.S. petroleum company.
• First syndicated loan to the Bank of China.
• First domestic management buyout of a foreign investment enterprise, using domestic venture capital in Shanghai.
• First overseas issuance of shares by a Chinese automotive manufacturer.
• First fast-food joint venture in China.
• First partnership in Shenzhen involving a Chinese private enterprise and a foreign investment fund.
• First brewery joint venture in China.
• First application in China of a BOT structure in the water plant sector and one of the first competitively bid Build-Own-Transfer power plant projects in China.
• First soft drink concentrate plant joint venture in China.
• First design service joint venture in China.
• First, and China's largest, retail chain operator and no. 1 grocery retailer to be listed on the Hong Kong Stock Exchange.
• First use of a foreign-invested enterprise to satisfy domestic ownership requirements for a Shanghai vehicle-manufacturing joint venture.
• First WTO- based application to China's customs officials to exempt royalty duties for software imported on CDs.

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