Seminar on U.S. Capital Market for Chinese Companies: Transactions in the

Current Environment On April 14, 2011, CBLA, Troutman Sanders, China General Chamber of Commerce – USA (CGCC) and Asian Financial Society (AFS) co-organized a seminar on the U.S. Capital Market for Chinese Companies. The seminar was held at Troutman Sanders’ offices in Manhattan’s Chrysler Building and attended by over 130 professionals and businesspersons.

Left to right: Jie Xiu, Aurora Cassirer and Howard Jiang (Troutman Sanders) and Michael Creasy (Grant Thornton) As Chinese companies become more active in the U.S. capital market, their activities have raised significant compliance challenges under U.S. securities laws and regulations. Navigating the current environment and developing opti-mal strategies to achieve both an attractive valuation and access to continuing infusion of

equity and debt capital following the IPO/RTO can be a complex matter. This in-depth seminar by experts in this field, including Aurora Cas-sirer (Managing Partner of New York Office) and Jie Xiu (Senior Associate) of Troutman Sanders and Michael Creasy, Audit Practice Leader at Grant Thornton, provided Chinese private companies with a roadmap to the going-public process and shed light on many critical and time-sensitive issues. Howard Jiang, part-ner of Troutman Sanders, gave opening remarks and moderated the panel discussion.

At the seminar, CGCC announced the estab-lishment of its Professional Services Committee, which will serve as the first stop for CGCC’s member companies seeking legal, financial and consulting services in the U.S., and will be chaired by Xiaolin Zhou, with Alex Hao as Executive Director. AFS Chairperson Tracy Wan and CGCC’s Lijie Zhu also delivered remarks. CBLA’s Pearl Hou contributed to the organiza-tion of this seminar.

S U M M E R 2 0 1 1 N E W S L E T T E R

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Seminar on Investment-Based and Employment-Based Immigration

On June 7, 2011, CBLA, Fragomen, Del Rey, Bernsen and Loewy and Fudan University Alumni Association USA jointly hosted a seminar on investment-based and employment-based immigration at the Bank of America Tower in Manhattan. The panel, comprised of Fragomen partners Patrick Shen, John Carter, Janet Henner and Parisa Karaahmet and senior associate Susan Hershkowitz, presented to an audience of around 50 who were drawn by the interesting topic. CBLA’s Steve Chen gave opening remarks.

Left to right: Parisa Karaahmet, Susan Hershkowitz, John Carter and Janet Henner (Fragomen, Del Rey, Bernsen and Loewy) The Immigrant Investor Visa (EB-5) Program was created some 20 years ago, and a recent surge in interest in this program has reached a new high this year. While providing exciting opportunities for investors and project develop-ers alike, the EB-5 program is not a guarantee for obtaining a permanent resident visa, and many risks for investors are often obscured by the promotion of project developers. During the seminar, the panelists shared their thoughts and offered valuable insights into the EB-5 applica-tion process. They helped dispel common mis-conceptions about the process and alerted the audience to pitfalls in choosing investment projects. The seminar was enthusiastically received by the audience and the panelists graciously stayed over time for Q&A. CBLA’s Jun Ge and Esther Chiang contributed to the organization of this seminar.

Greater China (Shanghai) Kick-Off Party On June 12, 2011, CBLA hosted the Greater China (Shanghai) Kickoff Party in the Paris Ballroom of Shanghai’s Le Royal Meridien. The party attracted approximately 60 lawyers from top U.S. firms, magic circle firms and top PRC firms, bankers, and in-house counsels from multinational companies. CBLA’s Jie Zhu introduced the history and development of CBLA. The party also featured a panel including Mr. Zhengdong Liu, former president of the Shanghai Bar Association, Ms. Yingxi Fu-Tomlinson, managing partner of Kaye Scholer’s Shanghai Office and Justin Flowers, director of Lateral Link. The party was generously co-sponsored by Kaye Scholer and Lateral Link. The panel discussion focused on the options and prospect of returning legal professionals, the Chinese legal market, and returning legal pro-fessionals’ pro bono work. The panel discussion and the following Q&A lasted more than one hour. Providing a great opportunity for partici-pants to mingle and connect, the party closed much later than scheduled. Participants ex-pressed their enjoyment of the party and strong interest in future Shanghai events.

Left to right: Zhe Yu (Kaye Scholer), Simon Mui (Debevoise & Plimpton), Yingxi Fu-Tomlinson (Kaye Scholer), Annie Lin (Lateral Link), Justin Flowers (Lateral Link) and Jie Zhu (Wilson Sonsini) The Shanghai kick-off party signifies the contin-ued growth of CBLA, its commitment to its members and friends, and its determination to achieve greater and wider success.

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Fireside Chat On May 19, 2011, Gregory Tan, partner at Shearman & Sterling, hosted a chat on “Recent Trends and Developments: Outbound Activities for PRC Financial Institutions” over a delectable Peking duck dinner in Manhattan. Gregory shared with eleven investors, bankers and lawyers his views and thoughts on Chinese companies’ outbound investments, as well as his working and living experiences in the U.S. and Asia. The lively discussion covered emerging trends and hidden opportunities in today’s challenging environment, helped investors in their decision-making and inspired young professionals in their career planning. This chat was organized by CBLA’s Jun Ge, Mingzhang Zeng and Esther Chiang.

Movers and Shakers CBLA congratulates Helena Huang on joining King & Wood in April 2011 as partner to lead its cross-border restructuring practice. Helena will also play a significant role in the firm’s expan-sion of its private equity practice and its repre-sentation of large Chinese companies’ acquisi-tions overseas. Helena had been partner of Kirkland & Ellis since 2006 in New York and Hong Kong. Helena is one of the few US restruc-turing lawyers with a Chinese legal background, and has over ten years’ experience in represent-ing large corporations and financial institutions in connection with all aspects of complex Chap-ter 11 reorganizations, out-of-court workouts and cross-border insolvency proceedings. He-lena also specializes in global acquisitions and

dispositions of distressed businesses and assets and restructurings of underperforming portfolio companies, as well as in private equity fund formation and investment matters.

Community Bulletin Board China Investment Group is a group of influen-tial lawyers, accountants, bankers, investors, medical specialists, businessmen, government officials and cultural leaders, all with the com-mon interest of being actively involved in China. CIG meets in Manhattan on the third Thursday of every month to listen to prominent China experts, as well as review possible investment opportunities. Recent sessions have been held at JPMorgan, Merrill Lynch, Deutsche Bank, Mor-gan Stanley, Skadden Arps, Loeb & Loeb, Katten Muchin Rosenman and DLA Piper. Generally, there are one or two featured speakers followed by a roundtable discussion. Past speakers in-clude Stephen Roach (former Chairman of Morgan Stanley Asia), Robert Hormats (former Vice Chairman of Goldman Sachs International and now Under-Secretary of State for Business, Economic and Agriculture Affairs), Steve Orlins (President of the National Committee on U.S.-China Relations), David Laux (President of the U.S.-Taiwan Business Council), Paul Speltz (Ambassador, Asian Development Bank), Xiao-jing Li (General Manager of Bank of China USA) and Carl E. Walter (author of Red Capitalism). See www.chinainvestmentgroupllc.com. On March 19 and 20, 2011, Global China Con-nection hosted its third Annual U.S. Conference entitled “China on the Global Stage.” The con-ference featured many distinguished speakers from, among others, Goldman Sachs, Microsoft, Deloitte, KPMG, Ernst & Young and Sidley Austin. Financial Services Forum President Rob Nichols gave opening remarks. Goldman Sachs Managing Director James Li and KPMG Partner Mark Barnes delivered keynote speeches. In addition, GCC will hold its annual Asia confer-ence entitled “Cultivating Tomorrow’s Leaders” on July 9, 2011 in Beijing. The conference will bring together leading change-makers to share their stories of personal growth with 400 student leaders from all over the world. See http://www.gccglobal.org/Leadership.

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Our Institutional Members

宾汉麦卡勤律师事务所

Bingham McCutchen has over 100 years of history and 13 offices in the US, Asia and Europe with over 1,100 lawyers advising clients on transactions throughout the Asia-Pacific region, including China, India, Indonesia, Aus-tralia, Japan, Korea, Malaysia, the Philippines and Vietnam. In Asia, our Hong Kong and Tokyo offices provide a full range of business law services including cross-border financial restructurings, corporate, M&A, investment funds, finance, financial regulatory, litigation, arbitration, intellectual property, antitrust, employment, real estate and international trade. Bingham has a long history of practice relating to China. Our lawyers include Hong Kong, English, U.S., Japanese, and Australian-qualified lawyers who are fluent in English, Mandarin and Cantonese.

Founded in 1993 and formerly known as China Law Office, DeHeng Law Offices is one of the largest full-service international law firms headquartered in China. Over years, it has developed a service network with offices in all major cities in China and over 1,000 profession-als worldwide. DeHeng is specialized in practice areas such as domestic and overseas issuance, underwriting, stocks and bonds listings, invest-ment funds, spin-offs and M&A of domestic and foreign enterprises, company and assets restruc-turing, bankruptcy liquidation, equity transac-tion, cross-border investment, financing, inter-national bidding, information communication, real estate development and operation, and key infrastructure projects. Its professional teams have received numerous awards including “Best IPO of the year,” “Equity Market Deal of the Year” and “The Best Equity Transaction.”

Jun He is widely recognized as a leading full-service law firm in China. As one of the first privately owned PRC law firms, we are re-nowned as a pioneer in the reestablishment and continued development of the legal profession in contemporary China. Since our inception in 1989, we have evolved into one of the largest and most established PRC law firms with offices in Beijing, Shanghai, Shenzhen, Hong Kong, New York and Silicon Valley, employing over 400 attorneys. Operating under a fully inte-grated system and aided by state-of-the-art communications technology, we are fully equipped to provide seamless professional services of the highest standard. Our New York office, established in 1993 and currently located at Rockefeller Center, is the first overseas branch office of any PRC law firm.

Established in 1993 and headquartered in Bei-jing, King & Wood is one of the largest law firms in China, with over 830 lawyers and 16 offices. The firm has wide-ranging international reach through offices in Tokyo, Silicon Valley and New York. Believing that the professional qualifications of lawyers are key to its success, the firm recruits from prestigious law schools around the world, and has a training and men-toring system dedicated to providing all lawyers with the best opportunities for professional development. King & Wood’s extensive experi-ence and knowledge of international and local laws allows us to deliver high-quality, compre-hensive legal service, meet diverse client needs worldwide, and earn an outstanding profes-sional reputation both within and outside of China.

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Morrison & Foerster is a leading international law firm with a diversified presence in Beijing, Shanghai, and Hong Kong. Having been han-dling major matters in greater China for more than 27 years, with nearly 80 multilingual U.S., PRC and HK qualified legal professionals, coupled with approximately 1,000 international lawyers in sixteen locations around the world, MoFo provides comprehensive coverage for investment, finance and regulatory matters to a wide spectrum of clients, including many of the world’s largest multinationals, the most active institutional PRC companies as well as promis-ing startups in telecoms, cleantech and life sciences industries. Key areas of the firm’s practice in China are capital markets, mergers and acquisitions, private equity and venture capital, real estate, foreign direct investment, technology and sourcing, and litigation.

O’Melveny & Myers was one of the first U.S. law firms to establish an office or become locally qualified to practice in Hong Kong, Shanghai and Beijing. The Firm’s China practice covers the full spectrum of business, commercial mat-ters, and adversarial proceedings, from provid-ing advice on complex acquisition, investment, commercial, financial, and capital markets transactions; to establishing joint ventures; to international trade matters and cross-border disputes. O’Melveny is an acknowledged mar-ket leader in China, with more than 100 profes-sionals on the ground representing clients on cross-border matters. The Firm also has strong China practice teams in the United States, Japan, and the United Kingdom that work closely with the firm’s China offices. The Firm’s China prac-tice group is comprised of lawyers with U.S., PRC, Hong Kong, and U.K. legal training.

Founded in 1873, Shearman & Sterling is one of the world’s leading global law firms with ap-proximately 900 lawyers based in 20 major financial and commercial centers in Asia, Europe, Latin America and North America. In China, Shearman has offices in Beijing, Hong Kong and Shanghai. We have been on the fore-front of the region’s most dynamic and innova-tive transactions for over 30 years. Many of our attorneys in China are from the region, or are long-time practitioners in China, and speak Mandarin and various Chinese dialects. Attor-neys in Shearman’s China practice are qualified in U.S., UK and Hong Kong law and have expertise in a wide range of practice areas. In 2010, Shearman expanded our pan-Asia capa-bilities further with the launch of a dedicated Hong Kong law practice.

Sidley Austin has an established presence in the Greater China region and with offices and professionals in Beijing, Hong Kong and Shang-hai, we are well placed to offer a full range of services to all those involved in doing business in China. Sidley’s professionals in China are capable of handling a broad range of corporate, finance, litigation, regulatory and industry-specific matters and are qualified to advise on U.S., Hong Kong and English law. The firm represents global, U.S. and European companies, financial institutions, funds, life science compa-nies and others establishing business operations in China, as well as many Chinese companies establishing operations and dealing with regula-tory schemes in the EU, the U.S. and elsewhere. The firm’s Asia-Pacific practice has received numerous honors, including “Most Innovative U.S. Law Firm” by IFLR earlier this year.

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Career Opportunities

 

Lateral Link is a full-service legal recruitment firm devoted to assisting our network of top attorney candidates and employer clients in making the right choices. Founded and man-aged by alumni of Harvard Law School, our diverse and talented team includes former practicing attorneys, recruiting directors and legal search professionals who share a commit-ment to high-quality, efficient service. Because our recruiting consultants have been in the shoes of our candidates and clients, Lateral Link understands the issues that attorneys and re-cruiting personnel face when making employ-ment decisions. We have successfully placed hundreds of attorneys at law firms and in-house positions throughout the United States, Europe and Asia. We leverage our status as one of a very few true “go-to” recruiting firms for non-public positions with major US–based and international firms and companies with the localized on-the-ground connections necessary to get our candidate members expedited atten-tion during their job search. Our Shanghai-based team of Justin Flowers, Managing Director of International Placements, and Associate Director Annie Lin, has years of experience advising and placing associate, counsel and partner level candidates in the Beijing, Shanghai and Hong Kong markets with law firms as well as our elite in-house clientele.

Cypress Recruiting Group was launched in 2001 by a Harvard Law School graduate to guide U.S. and China based attorneys on their lateral moves in China. Unlike other large U.S. based recruiting firms that assign just one re-cruiter to the Asian region, the entire Cypress team focuses exclusively on the Asian legal markets and consists of research associates, marketing and H.R. specialists and ex-practicing attorneys from top-tier law firms. We hear stories about unresponsive recruiters in this market who are overwhelmed and taking on too many Asia candidates at one time. We pride ourselves on being responsive and honest. With our full staff and offices in New York and Asia, we have the resources and support that allow our recruiters to focus on one thing—their candidates’ professional and personal well-being. Cypress recruiters are highly selective and it’s our policy that we only work with a handful of candidates at any given time. We have recently had candidates interview at top firms such as Shearman, Milbank, Simpson Thacher, MoFo, Jones Day, Herbert Smith, as well in-house positions at Goldman Sachs and both US and RMB private equity funds. Given our history and unparalleled relationships in China, we have placed more attorneys in China than any other Asia focused US recruiting firm. Cypress is known for the regional expertise, full staff and long lasting relationships that simply no other recruiting firm can offer. Visit www.cypressrecruiting.com or contact us at (212) 979-5900 or info@cypressrecruiting.com. Our legal blog provides lifestyle information, hiring trends and substantive legal and financial updates-- www.asialegalblog.com.

About CBLA

Chinese Business Lawyers Association, Inc. (www.cblalaw.org) is a New York non-profit organization founded in early 2009. CBLA is a unique global forum of professional and social exchanges for legal, finance and other profes-sionals with an interest in law and business in U.S. and China, without regard to location, ethnicity and language. If you have information to contribute to our quarterly newsletters, including the “Movers and Shakers” and “Community Bulletin Board” sections, please email media@cblalaw.org. Please note that CBLA has not verified and cannot be responsi-ble for third-party statements contained in this newsletter.

“Cypress Recruiting is a superb recruiting team. Frankly, they are our #1 recruiter – and we will look at candidates Cypress sources more positively than others because, frankly, they have some ability to get the good ones.” – Ken Siegel, Managing Partner, Morrison & Foerster.