China’s economic transformation has reshaped the global legal industry. While international firms have long maintained a presence, the last two decades have seen the emergence of elite Chinese law firms (PRC Firms) that now compete directly on the world stage, handling the largest, most complex, and politically significant transactions in Asia and beyond.
For foreign companies entering the market, or Chinese firms executing global strategies, choosing the right counsel means partnering with one of these powerhouses. They combine deep local regulatory knowledge with international business sophistication.
Here is a look at the key firms that consistently rank at the very top of China’s legal market for corporate, finance, and M&A work, often referred to as the “Red Circle” or the leading Band 1 firms.
🇨🇳 China’s Legal Titans: The Top 10 for International Business
The top tier of the Chinese legal market is dominated by firms that excel in areas vital to cross-border commerce: M&A, Capital Markets, and Private Equity.
| Rank | Law Firm Name | Specialisation Profile | Global Reach/Affiliation |
| 1 | King & Wood Mallesons (KWM) | M&A, Capital Markets, Banking & Finance, Disputes | A truly global firm resulting from a 2012 merger with Australian and European firms. |
| 2 | Zhong Lun Law Firm | Real Estate, Capital Markets, M&A, Investment/PE | One of the largest firms by headcount, with a strong international network (London, New York, Tokyo). |
| 3 | Fangda Partners | M&A (big-ticket), TMT, Private Equity, Disputes | Known for sophisticated, high-end work and deep expertise in technology and finance. |
| 4 | JunHe LLP | Corporate & Finance, Cross-border Transactions, Antitrust | One of China’s oldest private partnership law firms, renowned for its strong corporate practice. |
| 5 | Haiwen & Partners | Capital Markets (IPO), M&A, Securities | Extremely highly rated for its expertise in Initial Public Offerings (IPOs) and securities work. |
| 6 | Han Kun Law Offices | TMT (Technology, Media, Telecoms), VC/PE, M&A | A leader in the technology and venture capital space, serving both domestic tech giants and global investors. |
| 7 | Jingtian & Gongcheng | Capital Markets, M&A, Financial Services | A prestigious firm, particularly prominent in handling large-scale domestic and international IPOs. |
| 8 | DeHeng Law Offices | Full-Service, Large-Scale Government/Public Affairs | One of the largest firms by lawyer count, known for comprehensive services and strong government ties. |
| 9 | Global Law Office | Banking & Finance, Cross-border Investment, Litigation | Deep history in foreign trade and finance, dating back to 1979 (CCPIT affiliation). |
| 10 | AllBright Law Offices | Full-Service, Infrastructure, Financial Services | A large national firm with a strong national presence and a growing international focus. |
💡 The “Red Circle” Phenomenon
The names King & Wood Mallesons, Zhong Lun, Fangda, JunHe, Haiwen, and Han Kun consistently appear at the very top of international rankings. They are frequently referred to as the “Red Circle” (a nod to the UK’s “Magic Circle” firms).
These firms are defined by:
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Bilingual & Dual-Qualified Talent: Lawyers who are fluent in both English and Chinese legal systems and business cultures.
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Sector Specialization: Moving beyond general corporate law to excel in high-growth, complex sectors like FinTech, Life Sciences, and TMT.
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Outbound Investment: They are the essential counsel for major Chinese State-Owned Enterprises (SOEs) and private companies making outbound investments globally, from Europe to the US and Belt and Road countries.
Beyond the Top 10: International Giants
While the list above focuses on domestic Chinese firms, the legal landscape also includes major international players that operate in China, often through strategic alliances:
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Dentons (Dacheng): Through its tie-up with Dacheng, Dentons became one of the largest law firms globally by headcount, offering a vast geographic footprint.
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International Alliances: Firms like Linklaters and Allen & Overy (A&O Shearman) have formed associations (e.g., Linklaters with Zhao Sheng Law Firm) to offer seamless services that cover both local PRC law and international common law.
The Chinese legal market is incredibly fast-paced. For any major business venture in China, engaging one of these highly-ranked firms is not just advisable—it’s often a prerequisite for successfully navigating the regulatory environment and securing major deals.