ALB携手大成律师事务所重磅发布 | ALB区域市场报告:长三角地区

发布时间： 2020.10.27

自2020年7月，ALB陆续推出了一系列关于中国区域法律市场的报告，这些报告将涵盖深圳、广州、中国西部、长三角、山东及福建，在《亚洲法律杂志》中国版10月刊中，ALB携手大成律师事务所联合发布《中国区域市场报告：长三角地区》。

长江三角洲地区中国规模最大的城市集群地，在中国经济中扮演着举足轻重的角色：根据2018年数据，这里集中了中国约16%的人口，GDP则占中国总量的约23.5%。2018年底，中国政府正式将长三角一体化发展上升为国家战略，长三角将在创新突破和引领发展层面扮演更重要的角色。

借助良好的气候及地理条件，长江三角洲地区在距今七千余年前就孕育了中国最早的文明之一。从曾经的农业重地到后来的工业走廊，如今这一地区在中国经济中扮演的重要角色已无需赘述。

而伴随中国区域经济一体化特征不断显现，“长三角”的概念也经历了不断重塑。

最初，长三角是个单纯的地理概念；伴随城镇化发展和产业链形成，长三角逐渐演变成为了一个经济概念，其外延涵盖了受此地区辐射的诸多城镇。

而“长三角”概念的最新演变，则受益于中国政府颁布的政策。2019年12月1日，国务院正式公布《长三角区域一体化发展规划纲要》（后称“《纲要》”），其中明确提及由上海、江苏、浙江、安徽的27个城市组成长三角中心区。而更广义的长三角，如今则囊括了上海及江浙皖三省全部区域，共41 个城市。

根据山川网的说法，长三角的“41城阵容，毫无疑问是傲视全国所有城市群的超级存在”。

根据2019年中国各省市GDP统计数据，长三角省市江、浙、沪、皖分别位列全国第2、4、10及11位，年增速都高于6%，安徽甚至达到7.5%。长三角城市群中，上海GDP高于3万亿元人民币，苏州、杭州、南京、无锡、宁波5城也已进入“万亿元俱乐部”，在城市阶梯健康程度上居中国首位。

“内忧外患”下的长三角一体化

正如大成宁波分所执行主任童哲律师所说，“无论国务院是否公布《纲要》，长三角区域的经济发展一体化已是不争事实”。既然长三角的“自发发展”之路已经很顺利，中国政府此时将长三角一体化提升为国家战略的意义何在？

首先可以从长三角地区的“一体化心态”来理解这个问题。2019年《纲要》颁布后，香港《明报》曾在报道中说：“公布该区域的发展规划，意味着这个通盘计划的正式启动，该区域未来将进一步兴旺发达，能够带动该地区的一大片腹地，以至全国的繁荣进步。”

《明报》继而将长三角与珠三角进行了一番比较，并指出：“长三角关键的不在于自然条件，而在于能够做到‘体制一体化’……当广州和深圳还在争论谁是珠三角龙头的时候，上海已经多次召开长三角发展会议……共同发展的模式已经成为传统，这样才能称得上一体化的合作。”

换句话说，长三角早已懂得什么是“借力而为”，一体化纲要将继续催化合作的决心和智慧。

举例来说，目前是全球最大集装箱码头的洋山港，从行政位置上属于浙江，但管理权交给上海，以更好实现功能；根据《纲要》，“长三角各地方政府可建立政府间的财税分享机制和长三角一体化产业发展基金”，而早在2018年，上海国际集团就牵头发起了总规模1,000亿元人民币的长三角协同优势产业基金，对“硬科技”“完善产业链”和“明星项目”进行投资。

在新的一体化战略下，长三角还设立了区域合作办公室。以城际轨道交通项目为例，过去十几年中各地都以自身发展为重，长三办则协调规划了整体城际交通网。类似的例子还包括长三角营业执照和生产许可证的“一网通办”，以及以异地就医、养老便利为代表的民生领域一体化等。

一言以蔽之，《纲要》下的长三角未来将有希望实现真正的“全要素流通”。

2020年8月20日，习近平总书记在安徽考察时再次强调了长三角一体化的重要性。他给长三角发展指出了三个任务：集合科技力量，尽早取得突破；提供优质产品和高水平科技供给，支撑全国高质量发展；继续站在改革开放前沿，成为联通国际市场和国内市场的重要桥梁。

而自今年7月起，中国政府频繁提及“国内国际双循环”发展战略，长三角也是第一个和“双循环”明确联系在一起的区域。

这似乎都意味着：在2020年世界经济和地缘政治版图不断变化、中国面临“内忧外患”的背景下，长三角一体化具有了新的内涵。换句话说，正是基于其在中国的龙头地位，在不同国家针对中国加紧技术封锁、中国试图重塑其在世界版图中角色的过程中，长三角成为了“全村人的希望”。

上海：“资金泵”与研发高地

在“8.20讲话”中，习近平特别指出了上海未来发展的三个重点：浦东继续高水平改革开放；建好上海自贸区临港新片区；以及继续推动上海成为国际金融中心。

实际上，无论建设金融中心，还是开放引入外资，上海在长三角中扮演的最重要角色之一就是“资金泵”——通过不断吸引资金，支持长三角其他地区的产业发展需求。根据第一太平戴维斯的报告，长三角目前集中了中国约24%的资金。在中国，间接融资是企业最重要的融资方式，但政府一直在推动以股票、债券进行直接融资的比重，而上海的直接融资比重在2019年底已达到36%。

大成上海事务所主任刘蓉蓉律师向ALB例举了过去几年中上海最为重要的金融及对外开放创新政策：“上海自贸区新片区设立支持了金融业创新发展，扩大人民币跨境使用、深化外汇管理改革、优化金融发展环境等；科创板的设立，进一步刺激了高科技创新企业发展；扩大开放100条、鼓励跨国公司设立地区总部等政策，进一步响应《外商投资法》的落地实施，为上海的外资业务注入更多活力。”

这样的变化也影响了律所业务。“近年来，大成上海为中国企业‘走出去’、外商企业投资国内以及中国企业科创板上市提供了许多服务。”刘律师说。

上海的第二个角色，则是借助“全球城市”身份，成为整个长三角的研发中心。

刘律师观察道：“智能电网、新能源、集成电路、民用航空制造业等高新技术产业及战略性新兴产业近两年在上海有显著发展——特斯拉上海超级工厂和积塔半导体特色工艺生产线的落地是最典型的案例。上海正努力打造世界级新能源汽车产业集群、集成电路产业化新高地、智能电网功能应用示范基地、关键技术研发基地和主要装备制造基地。”

“高新技术产品或服务具有鲜明的技术性、影响性和知识产权性，因此要求律师的法律服务也更具有针对性和规范性。”刘律师说。在她看来，律师一方面应了解并协助技术法律规定、行业技术规范、企业技术标准等的改革和调整，同时在当下经济环境中，协助高新技术企业面临国际法律法规——尤其是国际贸易层面的挑战。

谈到上海近年来成为“兵家必争之地”的新业务领域，上海市律协副会长陈峰律师则指出了破产重整、科技金融及新兴互联网相关业务，以及康养和保险三个领域。陈律师认为，这些领域都对律师提出了新要求，“虽然国家一直在以新的立法规章规范新兴领域及业务，但许多行业仍具有很强的创新性，律师需要不断对新领域进行研究……上海律协一直在做这方面的工作，包括提前针对破产业务展开研究，设立金融工具研究会、人工智能和互联网研究委员会等”。

杭州：数字经济引领发展

坐拥以阿里巴巴、蚂蚁金服为代表的多家互联网巨头，杭州如今在中国互联网经济中扮演的角色不容小觑。

根据阿里研究院发布的《2019数字长三角一体化发展报告》，在对长三角地区进行的数字经济指数测评中，杭州以83分稳居第一。《报告》显示，杭州的数字基础设施指数为99，数字政务指数为93，数字商业指数为84，“从产业到生活，数字经济正在全面改造这座城市”。

杭州的发展也反映了整个长三角的情况。根据上述《报告》，长三角数字经济占全国数字经济总量的28%，其数字经济占当地经济总量的比重则达41%。截至2018年，长三角拥有58家独角兽企业，以沪、杭为两级，较均匀地分散在不同城市。

数字经济领域企业自然也是当地律所重点服务的对象。

以大成杭州事务所为例，互联网企业客户目前已占其总客户总量的约16%。“我们主要在企业合规、网络安全等方面为这类客户提供服务。”大成杭州主任何鑑文律师告诉ALB，“例如互联网个人隐私保护问题、互联网行业新型商业模式层出不穷背景下相关企业的经营业务资质问题。此外，我们也就互联网线上销售模式的合规性审查、互联网商业行为的刑事合规、互联网知识产权纠纷维权等提供服务。”

“中国很可能是全世界互联网发展速度最快的国家。”何律师谈及服务此类客户的特点时坦言，“该领域法律空白地带的产生速度往往比我们填补的速度更快，问题空前尖锐。律师的核心竞争力就是从现象中找出问题本质，准确提炼法律关系。”

因此，现实中，针对互联网企业及其产品，大成杭州的律师在根据现有法律进行初步合规审查外，还会根据自身经验、对相关行业政策前沿动态的了解，并结合法院判决、学术观点及监管部门意见等信息，对企业未来风险做出判断，以最大程度降低合规风险。

江苏及安徽：制造强省转型

在“8.20讲话”中，习近平同时提到，长三角“要加快产业数字化、智能化转型，提高产业链供应链稳定性和竞争力”，而这正是以制造业见长的江苏和安徽未来在长三角一体化发展中承担的任务。

据《长三角制造业协同发展报告(2020)》显示，“以机器人、集成电路、新能源汽车等为代表的长三角产业地图已基本完成”，且长三角“产业链呈现深度融合发展态势”。最典型的例子或许就是G60科创走廊，这个沿G60沪昆高速分布的条状区域分布了大量企业，从上海，经苏杭，抵达合肥，形成了“融资-研发-全产业链制造”的链条。

在中美贸易摩擦背景下，重新审视长三角的超级产业链具有重要意义，南京、合肥、苏锡常、南通等则是其中的重要城市。

谈到传统制造业过去几年的变化，大成南京事务所主任沈永明律师告诉ALB：“近几年江苏制造业企业开始进行智能化改造，体现在以下方面：一是‘5G+工业互联网平台’落成；二是上下游产业链协同力度加大，传统制造企业以‘智造’为核心，建设跨区域数字化工厂，并搭建工业互联网平台；三是数字化赋能向生产服务领域延伸，出现了中小企业信用评估、金融风控和信贷服务等平台。”

沈律师指出，在传统产业转型同时，江苏省过去几年也“出现了新型制造业、现代服务业以及未来产业的萌发和聚集”，这些新产业包括生物医药、软件和信息服务、金融和科技服务、现代物流与高端商务商贸、前沿新材料、新能源、核心信息技术等。

以被中国政府视为国家战略的新一代信息产业为例，根据第一太平戴维斯的报告，长三角共有七个产业集群入选了发改委第一批国家战略新产业集群名单，而“长三角在信息产业的优势在于全产业链覆盖，能为企业提供从网络搭建到终端存储系统的全产品线解决方案”。

产业格局的变化自然也影响了企业对法律服务的需求。

苏钢集团是江苏的老牌国企，苏钢总法律顾问何祥告诉ALB，在苏州市政府若干政策影响下，苏钢“不再局限于流水线制造，开始关注产品研发与设计、产能提高以及高效能机器运用”，同时开启了制造业高端国际化。

受企业转型影响，苏钢法务团队“从传统的合同审核、劳动争议处理等，开始（转向）帮助企业进行产业布局、境外投资、股权架构设计等。在‘一带一路’的大背景下，企业加强了境外投资的调研力度，这也是法务团队重点关注的领域”。

何祥告诉ALB，在这样的背景下，“专业化、国际化的律所能够更好地得到企业关注”。他将企业对外部律所的希望总结为三点：一是能够了解企业所在当地政策；二是能够跟随企业的发展步伐，了解不同地域、不同国家的法律和政策；三是除了在专业上取胜，也能有产业知识，提供商业资源。

而律所作为服务提供者，也在不断丰富服务维度。大成苏州事务所主任肖翔律师向ALB坦言，新老产业的发展“涉及技术层面和投融资操作，与传统制造业通过一般改良提升品质已有较大区别”。律所在提供服务时必须了解多方面背景，包括“采取何种投融资方案、采取何种方式进行知识产权和商业秘密保护、政府补贴扶持政策的充分利用、拟后期进入资本市场的前期规范引导、初创科技型企业的股权设计、网络数据保护等”。

南通：“小城”新事

在长三角一体化背景下，有些城市的变化则更为丰富，比如南通。

今年7月1日，沪通高铁开通，如今从上海坐城际高铁到南通只需一个半小时。南通还提出了“全方位对接上海”的口号。大成南通事务所高级合伙人王念律师告诉ALB，过去几年，南通在海港、城市地铁、高铁新城、新机场等基础设施建设上投资巨大，南通新机场、北沿江高铁和通州湾海港的建设“将从根本上改变南通的交通状况和城市地位”。

与此同时，王律师说，过去几年南通的市场采购贸易、跨境电商、外贸综合服务等新业态迅速发展，南通也在推动新一代信息技术地标产业、半导体、工业机器人以及航空、船舶配套、生物医药等产业集聚发展。

南通沿海开发集团有限公司是当地国企队伍中的新生力量，借助南通的快速发展，近年来其在房地产开发、融资租赁、物业服务等项目外，又开拓了教育产业、文化园区经营、商业保理、基金投资及商贸供应链等产业。尤其借助长三角一体化发展，沿海开发集团承担了不少区域重大项目。集团公司律师、法务主管宗海霞告诉ALB：“集团处于快速发展期，（但）对风险防控和法律服务的要求越来越高，管控难度越来越大。”

宗律师说，因此，法务团队与外部律师合作时，“最看重提供法律专业意见和解决问题的能力……在常年法律服务方面更关注‘广度’，需要服务响应快、应变能力强、法律功底扎实、把握精准要点、为特定场景下法律需求提供有力支撑，注重律所和律师团队带头人的行业位置、资历经验和客户口碑；专项法律事务方面则更关注‘深度’，注重律师在某专业领域的长期积累和深入研究”。

“新产业发展带来了新法律服务需求，也对传统服务提出了新期待。”王律师也坦言，“以重大产业项目法律服务为例，在服务内容上，提出了从征地拆迁、立项开工，到投产运营全流程服务需求；在形式上，提出了以网格、预约和驻点等形式提供及时高效服务的需求；在效果上，则要求有效预防和化解纠纷，做好项目建设法律风险防控。”

巨变合肥

另一座在一体化过程中经历剧烈区位变化的城市则是合肥。

作为安徽省会城市，合肥曾经的影响力稍显“透明”。不过，第一太平戴维斯指出，“未来五年，合肥的高铁线路将显著增加，与周边城市往来更加方便。此外，合肥信息技术产业发展有声有色，对新兴人才的吸引力持续提升”。

大成合肥事务所主任纪敏律师将合肥近年来的产业发展概括为：“传统产业释放新动力，新兴产业开启新引擎，共同驱动合肥高质量发展上台阶。”具体来说，以美菱为代表的家电产业成为产业发展最大亮点之一；装备制造业也进一步发展，高端制造、智能制造、机器人产业等风生水起。在新兴产业方面，伴随“中国声谷”园区落地，330余家企业入园，人工智能发展迅速。此外，以江淮大众、江淮蔚来为代表的新能源汽车产业也迎来了重要发展节点。

经济发展也带动了法律服务市场繁荣。安徽省律师协会副会长、合肥市律师协会会长周世虹律师告诉ALB，根据媒体数据，合肥“是改革开放以来经济发展速度最快的城市之一，和深圳的发展速度差不多；近年合肥城市范围不断扩大，人口数量已达到了800余万”。借助这些利好数据，合肥律师数量年增速达15%，业务收费年增速达24%。近两年，外来所在合肥设立分所势头迅猛，且业务量已占据本地半壁江山，“打破了原有竞争格局，更新了社会对律师行业的理解，提高了收费标准，也拓展了业务范围”，周律师说。

纪敏律师继而指出，经济发展同时引发了法律服务量变和质变，伴随传统企业做大做强，他们更需要公司和资本市场部门律师提供并购、增资、上市等方面的服务；而高新技术企业由于其创新性，非常重视知识产权保护，律师越来越多参与到了企业搭建知识产权保护框架、制定知识产权战略布局等工作中。

宁波：借力良好区位优势

作为浙江省第二大城市、长三角典型的沿海城市，未来温州将借助其良好区位优势继续发展。童哲律师告诉ALB，“宁波作为长三角南翼的重要城市，未来在长三角中扮演的将是国际航运大港、贸易口岸、向高端升级中的制造业重镇和区域性财富、资本中心的角色”。

过去几年，宁波的产业和城市面貌在两方面发生了重要发展：根据阿里研究院的《报告》，伴随“保税仓”建设，宁波保税区跨境电商进口规模从2013年的3.5亿元增长到了2018年的100亿元，位居全国海关特殊监管区之首；此外，自2012年起，宁波对公路、水路、铁路、民航及内部交通进行了新一代信息技术重构和优化，是长三角城市交通健康指数最高的城市，进一步强化了其区位优势。

童律师告诉ALB，目前其在本地排名前三的业务领域是争议解决、公司与并购、房地产与建筑。谈到法律服务变化，他举出了民商事争议解决的实例：“私募基金、理财投资类纠纷案件数量呈上升趋势；公司股权纠纷案件出现系列化；此外还出现了刑事、行政、民事纠纷交织的情况。”因此，“法律服务跨界”趋势越来越明显，“要么是法律服务人员掌握多项专业知识，要么需要大型法律服务机构中不同专业人员配合，进行团队化服务”。

法律服务呈现新趋势

谈及长三角地区法律服务新趋势，作为中国最发达的地区之一，长三角法律人的思考也“先人一步”，他们频繁谈到了互联网、替代性法律服务等对传统服务模式的冲击。

有些趋势切实影响着律师们的执业内容和方式，比如互联网的发展。“随着大量互联网企业落户杭州，公权力如何利用互联网技术，对不断发展的互联网行业以及不断推陈出新的互联网商业活动建立行业规范并进行有效监管成为了热点问题。”何鑑文律师告诉ALB。

他举出了互联网影响司法的例子。“在杭州，司法机构采用了大量新型网络科技产品，例如推进案件审理全过程中材料电子化；法官越来越多通过互联网平台与律师进行沟通；在执行阶段，法院甚至普遍利用淘宝等平台处置当事人资产。”

律师和企业法务除了要适应上述互联网司法变化，也要学习积极使用技术。“智能分析案件、检索案例、整理生成案件材料的AI软件普及，极大提高了律师、法务的工作效率。”他说。

纪敏律师则感慨道，如今，一方面“律所的学习、交流、宣传、招聘，无一不是借助互联网完成”；另一方面，从办案角度，“越来越多侵权或犯罪行为借助互联网实施”，“越来越多律所打造‘互联网+法律服务’的工作模式，律师也要成为新时代的‘网络专家’”。

与此同时，活跃的市场经济促使替代性法律服务萌发，也对律所造成挑战。

“法律服务提供商不再仅限于律所，比如4大会计师事务所将法律服务作为子业务版块，为企业提供全方位咨询服务；互联网法律服务平台和法律科技公司在获客方式和流程化管理方面优势明显；管理软件提供商也意图进军常年法律顾问、股权管理等律师传统服务领域。”沈永明律师告诉ALB。

“存量法律服务市场蛋糕减少，市场参与者增加是目前法律服务面临的最大挑战……律所的核心竞争力就是专业能力，（期待）律所与新经营业态最终由竞争变为合作，形成较良性的泛法律服务市场。”他说。

长三角法律市场的另一个趋势，则是伴随一体化深入，律所在长三角布局的愈发细密。

“推进长三角高质量一体化发展是重要的国家战略，公共法律服务必须准确把握这一需求。”沈律师说。也因此，大成目前在长三角布局了11家办公室。“同时，律所强化在长三角建设分支机构还有利于扩大数据共享、提高法律服务精准度、链接优质资源、提升法律服务便利性……对律所发展起到巨大作用。”

展望未来

谈到在当下环境中对该地区法律服务市场的预期，上海律协副会长陈峰律师用了“人无远虑，必有近忧”这句话。他告诉ALB，2019年完成新一届换届后，上海律协很快开展了《上海律师队伍建设三年行动纲要（2020-2022）》《上海市发展涉外法律服务业研究》《上海涉外法律服务业发展政策储备研究》等课题的调研。从背景概述、指导思想与总体目标、发展具体目标、主要任务与具体措施以及相关政策需求五个部分展开，构建未来三年上海律师队伍发展的总体设想，并总结现阶段涉外法律服务面临的问题，提出加快涉外法律人才培养、全面提升上海涉外法律服务水平相关建议。今年，上海律协还正式纳入了公司及公职律师会员，并扩大了由经批准设立的外国律师事务所驻沪代表机构等组成的特邀会员规模，以促进交流的方式激发整个行业发展。

谈到长三角律师未来的“属性“，刘蓉蓉律师强调了”商业属性“和”社会属性“两方面，即律师既要协助企业在不确定的商业世界里寻求确定性和可预期性，也要以法律人的视角和经验投身法治建设。”未来的律师，必定不仅在专业化道路上走得更远，而且扎根于行业，拥有较高的商业思维，方能适应市场的变化和需求。”她说。

*本文同时刊登在《亚洲法律杂志》中国版10月刊，请点击此处查看

The Yangtze River Delta (YRD) region, China's biggest city cluster, plays a pivotal role in China's economy. According to data from 2018, the YRD region was home to 16 percent of China's population and contributed around 23.5 percent of China's total GDP. In late 2019, the Chinese government officially made the integration of the YRD region a national strategy. The region will play a more important role in enabling innovation breakthroughs and leading growth in the future.

Given its favourable conditions, the YRD region is the cradle of China’s early civilization. From an agricultural powerhouse to an industrial corridor, the region has continuously played a significant role in China’s economic growth.

Since regional economic integration became more of an objective for China, the concept of the "YRD region" has been taking shape.

The YRD region began as a geographical concept, but evolved into an economic concept covering adjacent cities and towns as urbanization and industrialization the region developed.

A recent government policy has more thoroughly defined the YRD region. On December 1, 2019, the State Council put forward a development plan for the integration of the YRD region, which stipulates that the central area of the region is made up of 27 cities including Shanghai, and those in the provinces of Jiangsu, Zhejiang and Anhui. Under a broader definition, the greater YRD region is made up of 41 cities, including Shanghai and all cities in the provinces of Jiangsu, Zhejiang and Anhui.

Some believe that the YRD region, made up of 41 cities, is the most prominent megapolis in China.

GDP figures from 2019 show that Jiangsu province, Zhejiang province, Shanghai, and Anhui province nationally ranked second, fourth, tenth and eleventh, respectively, in economic growth, with annual growth rates exceeding 6 percent. Among the cities in the YRD region, Shanghai ranked first in actual GDP, topping 3 trillion yuan ($448 billion), while Suzhou, Hangzhou, Nanjing, Wuxi, and Ningbo all recorded GDPs of over a trillion yuan.

INTEGRATING IN TROUBLED TIMES

“Whether the State Council had rolled out the development blueprint or not, economic integration in the YRD region is already a reality,” Dentons Ningbo’s executive director Tong Zhe tells ALB. As the region is seeing organic growth, one may wonder why the Chinese government made the region’s integration a national strategy.

To understand this, knowing how the authorities view integration of the YRD region is required. After the development plan was promulgated in 2019, Ming Pao, a newspaper based in Hong Kong SAR, commented: “Announcing the development plan for the YRD region means that the plan is now officially put into action. The YRD region will further thrive in the future, which can stimulate the development of the hinterland in the region and bring prosperity to the whole country.”

The newspaper then compared the YRD region with the Pearl River Delta: "The key to the success of the YRD region does not lie in its innate conditions, but institutional integration … While Guangzhou and Shenzhen were still competing to be the leader in the Pearl River Delta, Shanghai had already called for meetings to discuss the YRD region’s development … Mutual development has become the norm now, and this is what cooperation truly means to enabling integration.”

Essentially, authorities in the YRD region have long understood what it means to act within one's competence, and the plan for integration will continue to strengthen the determination for cooperation.

For example, Yangshan Port, which is currently the world’s largest container terminal, is located in Zhejiang province, but managed by Shanghai for greater efficiency. According to the development plan, local governments in the YRD region can establish intergovernmental mechanisms to share revenue and initiate funds to support industrial development. In 2018, Shanghai International Group Corporation Limited initiated the 100 billion-yuan Yangtze River Delta Collaborative Advantage Fund to invest in “hard technology,” "industry chain perfection" and “star programmes.”

Simply put, the YRD region intends to realize integration in all aspects of production and life under the new development plan.

On August 20, 2020, President Xi Jinping again emphasized the importance of the integration of the YRD region during a visit to Anhui Province. He laid out three tasks for the region’s development: to consolidate efforts to seek scientific breakthroughs, to provide high-quality products and supply high-level technologies to support China’s high-quality development, and to act as a bridge between the domestic and international markets.

All these imply that the integration of the YRD region now has a new purpose in the evolving global economic and geopolitical landscapes and the changing times in China. As the most developed region in China, the YRD has become the “people’s hope” as other countries are imposing restrictions on tech exports and the country is trying to reinvent its global role.

SHANGHAI: CAPITAL POOL AND R&D POWERHOUSE

In his speech on Aug. 20, Xi Jinping laid out three key goals for Shanghai's development: to continue the reform and opening-up of Pudong District, to establish the Lingang New Area in the Shanghai Free Trade Zone, and to keep promoting Shanghai as an international financial center.

Whether by establishing a financial center or attracting foreign investment, Shanghai’s most important function is to attract capital to support industrial development in other parts of the region. According to a Savills report, 24 percent of China’s capital is concentrated in the YRD. In China, indirect financing is the standard way to finance a business, but government has been calling for more direct financing methods. As a result, direct financing represented 36 percent of the funds raised by Shanghai by end 2019.

Dentons Shanghai’s director Liu Rongrong tells ALB of the significant financial policies in Shanghai over the past few years: “The establishment of the Lingang New Area in the Shanghai FTZ has supported innovation in the financial sector, expanded the cross-border use of Renminbi yuan, deepened the reform of forex management, and optimized the financial environment. The introduction of the STAR board has further stimulated the growth of high-tech companies. Authorities have rolled out 100 measures to further open Shanghai’s economy and encouraged multinational companies to set up regional headquarters in the city, which works with the Foreign Investment Law to further vitalize foreign businesses in the city,” she says.

Such changes have also affected the firm’s business. "In recent years, Dentons Shanghai has provided services for Chinese companies to go global, for foreign companies to invest in China, and for Chinese companies to go public on the STAR board,” Liu says.

Another of Shanghai’s roles is to leverage its international city status to serve as the R&D center for the entire YRD.

"High-tech industries and strategic emerging industries, such as smart grid, new energy, integrated circuits, and civil aircraft manufacturing, have grown significantly in Shanghai over the past two years. Prime examples include

Tesla’s Shanghai Gigafactory and GTA Semiconductor's special process production line project. Shanghai is striving to build several world-class industry clusters,” Liu observes.

"High-tech products or services are characterized by their technologies, influence and intellectual property rights, so legal services need to be more specific and in alignment with the law,” she added. She believes lawyers should understand and help with the reform and amendment of technology-related laws and industry regulations. Meanwhile, they should assist tech companies in navigating foreign laws and regulations, especially in international trade.

Shanghai has become a popular market for new businesses, such as bankruptcy and restructuring, fintech and internet business, as well as healthcare and insurance, says Chen Feng, vice president of the Shanghai Bar Association. Chen believes these sectors have created new requirements for lawyers. "Although China has been coming up with new laws and regulations to regulate the emerging sectors, they are still very innovative, so lawyers need to keep studying the new sectors … The association has been working in this area, including looking into the bankruptcy business in advance, as well as setting up committees to study financial tools, artificial intelligence, and the Internet sector,” he says.

HANGZHOU: DIGITAL ECONOMY LEADS DEVELOPMENT

Home of internet giants such as Alibaba and Ant Financial, Hangzhou now plays a significant role in China's internet economy.

According to the 2019 Yangtze River Delta Digital Integration Report by Ali Research Institute, Hangzhou ranked top with a score of 83 in the digital economy index in the region. The report shows that Hangzhou scored 99, 93 and 84 in digital infrastructure, digital government services, and digital commerce, respectively. From industries to livelihoods, the digital economy is transforming the city.

The development of Hangzhou also reflects that of the entire YRD region. According to the same report, the YRD region contributed 28 percent of China’s digital economy, and the digital economy was 41 percnet of the local economy. By 2018, 58 unicorn companies were based there.

Digital economy companies naturally became the major clients of Hangzhou law firms.

Internet companies now account for around 16 percent of Dentons Hangzhou’s clients. "We mainly provide services in corporate compliance and cybersecurity for these clients," the firm’s director He Jianwen tells ALB. "For example, we help them with issues surrounding personal privacy protection, as well as business licenses for new businesses. We also provide services such as compliance reviews of online sales models, the criminal compliance of online business activities, as well as internet intellectual property protection, and dispute resolution."

"China probably sees the fastest growth in the Internet economy in the world,” He notes. "New legal issues come faster than solutions, and issues are unprecedented. Lawyers show their competency by identifying the nature of the problems. Therefore, for internet companies and their products, we not only conduct preliminary compliance reviews in accordance with the current laws, but also analyze potential risks to minimize compliance risks by leveraging our hands-on experience and understanding of the latest regulatory developments of the sector, as well as taking reference from previous court rulings and opinions from academia and regulators.”

JIANGSU AND ANHUI: STRONGER IN MANUFACTURING

In the Aug. 20 speech, Xi also mentioned that the region must accelerate digitalization and intelligent transformation to make industrial supply chains more stable and competitive. This is the task ahead for Jiangsu and Anhui in the region’s future development, as both provinces are known for manufacturing.

In a report on the region’s coordinated development of the manufacturing industry, the major industries are robotics, integrated circuits, and new energy vehicles. The report also points out the deepening integration of the industry chains in the YRD region. An example is the G60 Science and Innovation Corridor, which sees many companies along the expressway that runs through Shanghai, Suzhou, Hangzhou, and Hefei. The corridor links up financing, R&D, and manufacturing.

Speaking of the changes in traditional manufacturing in past few years, Dentons Nanjing’s director Shen Yongming tells ALB: "In recent years, the manufacturers in Jiangsu province have begun to adopt intelligent transformation, which can be demonstrated in a few aspects. First is the completion of the 5G+Industrial Internet Platform. Second is the greater synergy between upstream and downstream industries. Traditional manufacturers have built cross-regional digital factories and industrial internet platforms centered on intelligent transformation. Third is the extension of digital services to the manufacturing sector, which gives rise to platforms for credit evaluation, financial risk control and credit services for small and medium-sized enterprises.”

He points out that while traditional industries are transforming, new manufacturing and services industries are also emerging in Jiangsu. These industries include biopharmaceuticals, software and information services, financial and tech services, modern logistics and high-end commerce and trade, cutting-edge new materials, new energy, and core information technology.

According to a Savills report, the National Development and Reform Commission named seven industry clusters in the YRD region as the first batch of national strategic emerging industry clusters. The YRD region’s strength in information technology lies in its coverage of the entire industry chain, which can provide companies with full product line solutions from network construction to terminal storage systems.

Those changes are also reflected in the legal market.

Jiangsu Suzhou Steel Group is a state-owned enterprise. Its general counsel, He Xiang, tells ALB that, thanks to certain policies by the Suzhou government, the group “is no longer only looking at assembly line manufacturing, but also paying attention to product development and design, productivity improvement, and equipment effectiveness.” Meanwhile, the group has tapped into global high-end manufacturing.

Due to the group’s transformation, the legal team has begun helping with strategic planning, overseas investment, and equity structure design, a shift from traditional duties such as reviewing contracts and resolving labor disputes. Under the Belt and Road initiative, companies are taking a deeper look into overseas investments, another focus for the legal team.

He tells ALB that against this backdrop, specialized and international law firms can better attract companies’ business. He summarizes the companies’ expectations for external law firms into three points: the ability to understand the policies where the company is located; the ability to keep pace with the company’s global development; and the ability to provide business resources with industry insights apart from legal knowledge.

Law firms are also expanding their services. Dentons Suzhou’s director Xiao Xiang tells ALB that the development of emerging and traditional industries “involves technology as well as investment and financing.” Law firms must consider more factors when providing services, such as what investment and financing plans to adopt, how to protect intellectual property rights and trade secrets, how to make full use of government subsidies and incentives, the pre-regulatory guidance for entering the capital markets in the later period, the equity design of tech startups, and data protection.

Cities such as Nantong are seeing more changes as the YRD region further integrates.

The Shanghai-Suzhou-Nantong Railway opened on July 1, shortening travel time from Shanghai to Nantong to only 1.5 hours. The city of Nantong also put forward an initiative to fully connect with Shanghai. Wang Nian, senior partner at Dentons Nantong tells ALB that over the past few years, the local government has invested heavily in transport infrastructure as well as new towns. The construction of Nantong’s new airport, the high-speed railway along the Yangtze River, and the Tongzhou Bay seaport "will fundamentally change Nantong's traffic performance and its position."

Wang also says that over the past few years, Nantong has seen rapid growth in new industries such as market procurement, cross-border e-commerce, and integrated services for foreign trade. The city is also promoting industry clusters in new-generation information technology, semiconductors, industrial robots, aviation, marine equipment, and biopharmaceuticals.

Zong Haixia, general counsel of Nantong Coastal Development Group, shares with ALB that apart from traditional real estate projects, their company is evolving more and more in large infrastructure projects related to the integration. “The company therefor is under rapid growth, which requires higher standards of risk control and legal services … while working with external lawyer, we now require them to have a broader knowledge spectrum when acting as daily counsel and are in-depth experts when acting on specific project.”

Wang Nian echoes Zong’s observation. "The development of emerging industries has brought new demands and expectations for legal services. In terms of what we provide, companies demand services that oversee the whole process. As to how we provide our services, companies demand timely and efficient services via online communications, appointments, and site visits. In terms of the results, companies expect us to effectively prevent and resolve disputes and to control legal risks.”

Hefei has also experienced drastic transformation.

As the capital city of Anhui Province, Hefei has not played a significant role previously, but Savills points out that the city will see more high-speed railways in the next five years, making it easier to commute to neighboring cities. Furthermore, Hefei's information technology industry is prospering, which makes it more attractive to talent.

Dentons Hefei’s director Ji Min summarizes the Hefei’s recent industrial development: “The traditional industries release impetus and the emerging industries start the growth engine. Together, they drive Hefei's high-quality development." The home appliance industry is one of the city’s highlights. Equipment manufacturing is also further growing, while high-end manufacturing, intelligent manufacturing, and robotics are booming. As for emerging industries, the new China Sound Valley high-tech park has attracted over 330 tenants and fosters AI development. The new energy vehicle industry also has a presence.

Economic development has brought prosperity to the legal market. “Hefei is one of the fastest growing cities, one that is comparable to Shenzhen. The city has been expanding in recent years and has a population of over 8 million people,” Zhou Shihong, vice president of Anhui Lawyers Association and president of Hefei Lawyers Association, tells ALB. As such, Hefei now sees 15 percent more lawyers every year, who are charging 24 percent more annually. In the past two years, more foreign law firms have set up offices in Hefei and make up half of the market. “This has changed the game in the legal industry and leads to higher billing rates and the expansion of the scope of our business,” Zhou says.

Ji Min also points out that economic development has led to changes in the quantity and quality of legal services. As traditional industries grow and expand, they need more services, such as mergers and acquisitions, financing, and public offerings. On the other hand, high-tech companies need intellectual property rights and protection for their innovations, so more lawyers are engaging in the sector.

NINGBO: A STRATEGIC LOCATION

The second largest city in Zhejiang Province and a coastal city in the YRD region, Ningbo will continue to grow by leveraging its strategic geographical location. “As an important city on the southern wing of the region, Ningbo will serve as an international shipping port, a trading port, a high-end manufacturing hub, and a regional wealth management and capital center in the future,” Dentons Ningbo’s Tong tells ALB.

Over the past few years, Ningbo’s industrial and urban landscapes have seen two major developments. According to the report from Ali Research Institute, since the bonded warehouse system was established, Ningbo Free Trade Zone e-commerce cross-border imports soared from 350 million yuan in 2013 to 10 billion yuan in 2018. Since 2012, the local authorities have been optimizing the city’s transport infrastructure with new-generation information technology, further consolidating its strategic regional position.

Tong tells ALB that the law firm ranks in the top three in dispute resolution, corporate and M&A, as well as real estate and construction. Speaking of the changes in legal services, he uses civil and commercial dispute resolution as an example. "The number of disputes involving private equity funds, wealth management and investment is on the rise. Corporate equity disputes are becoming more common. Criminal, administrative, and civil disputes are intertwined. This leads to a growing demand for cross-sector legal services,” he says.

NEW TRENDS

When discussing new trends in legal market in the YRD region, the forward-looking legal professionals mention the disruption brought by Internet technology and alternative legal service providers to the traditional legal business.

Some trends, such as the development of the Internet, are affecting how lawyers work and what they do. “As there are more Internet users in Hangzhou, how regulators can leverage technology to impose industry standards and effective regulations on the fast-growing Internet industry and the evolving online business activities has become a hot debate,” He Jianwen tells ALB.

He gives examples of how technology can change the work of the judiciary. “The judiciary in Hangzhou has adopted a lot of tech tools, such as using electronic materials during trials. Judges are increasingly communicating with lawyers over online platforms. When executing a court order, the courts even use online platforms such as Taobao to dispose of assets,” he says.

Meanwhile, Ji Min admits internet technology is crucial to a law firm in carrying out training, communication, marketing, and recruitment. On the other hand, technology has also facilitated more rights infringements and crimes. More law firms also provide tech-enabled legal services, and lawyers will need to also be tech experts.

The active market economy also gives rise to alternative legal services providers, which can pose challenges for law firms.

"Legal service providers are no longer limited to law firms. For example, the big four accounting firms have all set up legal services divisions. Online legal platforms and legal tech companies gain an upper hand in winning clients and managing their operations. Management software providers also intend to provide traditional legal services such as consultation and equity management,” Shen tells ALB.

"The biggest challenge for legal service providers is that there are more players, but the business volumn shrinks. Law firms’ competitiveness lies in their professionalism. I hope law firms will collaborate with the new players instead of competing with them. This way, we can have a healthy legal services market,” he adds.

Another trend is that as integration continues, law firms are setting up more branches and are weaving rather fine networks in this region.

"It is a national strategy to promote high-quality integrated development in the YRD region, so legal players must follow this trend,” Shen says. Therefore, Dentons now has set up 11 offices in the YRD region, a move that will better help the branches share big data, provide targeted legal services, obtain resources, and facilitate their services. This will be highly beneficial for the law firm.

LOOKING AHEAD

Speaking of the outlook of the legal market in the YRD region, Chen from the Shanghai Bar Association says those who do not think ahead will find difficulties soon. Therefore, the association has put forward a three-year action plan to explore new growth opportunities. The plan not only discusses common issues such as how to foster talents and how law firms can scale up, go global, and cater to market needs, but also raises concerns about emerging issues such as the special status of law firms in the market economy, the mixed operation system, and the possible changes in management and remuneration, to prepare for future challenges. This year, the Shanghai Bar Association also added corporate and public lawyers as its members, and expanded the special committee made up of lawyers from foreign law firms, with an aim to bolster the development of the legal industry through exchanges and communication.

As for what roles lawyers in the YRD region will play, Dentons Shanghai’s Liu Rongrong emphasizes their roles in the business world and society. Lawyers will need to help companies seek certainty and predictability in a business environment that is full of uncertainty. They also need to contribute their perspectives and experience to improve laws and regulations. “Lawyers of the future not only will be more professional, but also more agile to adapt to market changes and needs with industry experience and business acumen,” she says.