DOCVIT Special | Shi Guanghu: discussion on the professionalization of small and medium-sized law firms from the perspective of the rise of clients and the pattern of market competition, including discussion on the incubation of professional entrepreneurship team by Beijing DOCVIT Law Firm
Source: Beijing DOCVIT Law Firm Time: 2019-03-28 22:40:27 Author: Beijing DOCVIT Law Firm
On March 21, 2019, the 16th "Law Firms’ Chief Directors Salon" ran by the Beijing Chaoyang District Lawyers Association was held in Beijing. As a guest speaker, Lawyer Shi Guanghu, the senior partner of Beijing DOCVIT Law Firm, was invited to attend the event and delivered a keynote speech on the “Professional Industrialization of Small and Medium-Sized Law Firms from the Perspective of the Rise of Clients and the Market Competition Pattern”. In the speech, Lawyer Shi Guanghu shared his thoughts in the professionalization of small and medium-sized law firms from four aspects including the rise of the client market, the market competition pattern, the ways of breaking through the professional industry and the professional industrialization practice of DOCVIT.
The rise of client market faced by small and medium-sized law firms
Regarding the rise of client market, all law firms will have to deal with the following problems in the process of management and development:
1. the management mechanism;
2. the introduction and retention of talents;
3. the professional and industry positioning;
4. the solution for clients and market.
Among these problems, the most worth pondering should be the client and the market.
We divide the clients in market into two kinds, one is the entity clients, and the other is the individual clients. From the perspectives of client psychology and market perception, the changes of these two kinds of clients are totally different.
1. Change of the entity clients
For the entity clients, due to the continuous deepening on the degree of commercialization of the legal service market, the number of law firms for them to choose is getting bigger. The entity clients may choose law firms more suitable to their needs according to their standards and paying capacities. To a certain extent, this has completed the transformation of the market from the seller's market to the buyer's market, which gives the buyers more initiatives. Moreover, the requirements of entity clients are getting higher and higher, which not only include high quality and high efficiency, but also include high cost performance. Therefore, the pressure forced out by the market on “”earning less money and providing more services” is very realistic for every small and medium-sized law firm.
There is also a very significant change, which also poses a serious challenge to small and medium-sized law firms, is that the abilities of the in-house counsels of the entity clients are also on the rise. Some of the legal services that the law firm can undertake are internally digested by the legal team of the clients, which has led to the loss of the market that was originally owned by external lawyers. In addition, when in-house counsels choose external law firms, the screening conditions are gradually improved, and the requirements for the scale, professional team, and experience of the law firm are also very strict.
2. Change on the individual clients
The changes on the individual clients mainly include two aspects:
1. Right of access to information;
2. Recognition on brands.
Regarding the right of access to information, due to the mobile internet technology is getting more popular, there are more and more channels for individual clients, especially those with high educational backgrounds, to gain legal knowledge. Because of the improvement on the right of access to information, knowledge barriers are getting vanished, and thus, the standards on choosing lawyers are enhanced by individual clients.
In terms of the recognition on brands, in order to reduce the blind spots and risks of market selection, individual clients believe that choosing a law firm with high brand awareness is a reliable choice and can minimize the risk of uncontrollable risks. The subject matter involved in a individual client’s litigation case does not seem to be large, but for such client, this may be the only lawsuit ever encountered in a lifetime. Therefore, the outcome of the lawsuit has no room for manoeuvre, or it should be a great deal of cost for such client. As a result, individual clients' requirements for results can be very demanding.
The market competition pattern faced by small and medium-sized law firms
According to the development trend of legal services, it can be divided into five stages as a whole, namely, customization, standardization, systematization, serialization and popularization.
First of all, the customization stage reflects the comprehensive and special thinking of lawyers. With the increasing number of such legal service providers, customized services have evolved to standardize products. The standardized products will be further integrated to form a system. After the systemized products are assembled and combined, they become a serialized product. Finally, legal services will become popular.
Secondly, the market share in the industry is uneven. The larger legal service organization will have the greater legal service market, and the small and medium-sized law firms will get less legal service market share. Therefore, small and medium-sized law firms must position themselves in the right legal service layer, which should be in consistent with the psychological expectation of clients. Small and medium-sized law firms must take a different way and realize the overtaking.
Thirdly, technology has also caused a multi-dimensional impact on legal services, mainly reflected in: the connection mode of supply and demand sides, the working methods of lawyers themselves and the industrial types of legal services. Technology makes intangible services more and more tangible and quantifiable; clients are more accessible to some information, so they are increasingly demanding innovation and depth of legal services. The mere provision of information is of no value to current clients, and clients are not willing to pay for such legal services.
Finally, it is the invasion of alternative legal services. The Big Four accounting firms are stepping up their global legal business, especially in the financial and capital markets business. There are also many legal service companies that are also emerging and developing very rapidly. With the upgrading of China's internet technology, we can expect that even if China's legal service company is now subject to and restricted by policies, its development trend should not be underestimated in the next five years, which is bound to constitute a certain threat to legal service market for lawyers.
The way to break through the development of professional industry for small and medium-sized law firms
How to effectively respond to the rise of clients, how to effectively deal with competition from professional legal services provided within and outside the industry? We believe that professional industrialization may be the path for small and medium-sized law firms to achieve overtaking. The strict demand for legal services by entity clients requires law firms to perform the study of legal profession to the extreme, and to better understand the industry than clients do.
For the clients, the market environment is complex and changeable, and they will not give law firms or lawyers the time to learn to reduce industry barriers as before. Therefore, the faster the integration of the profession and industry is completed, the more likely it is to get business in an earlier stage. In addition, professional industrialization can effectively solve the efficiency problem. Some service products can be commoditized and can be quickly and easily produced. Finally, the label of professional industry should be strengthened, including brand awareness in professional industry.
The definition of professional industry can be divided into four dimensions. One is to arrange dialogue between the profession and industry, the other is to understand the industry better than the client, the third is to truly understand the key points of the industry, and the fourth is to be good at exploration and innovation.
For law firms, the experience deposition, comprehensive control, and customer dependence are the processes that must be experienced to achieve a professional industrialization path. Such a process needs to face the pressure of performance income generation, team pressure and long-term development in a short time. In the market, facing the rise of clients and an increasingly complex competitive market environment, it is necessary to solve short-term and long-term problems. In the short term, there may be some loss of clients, but this is more beneficial for the long-term development of small and medium-sized law firms.
Therefore, the road to professional industrialization is not the result of the law firm's initiative, but the market's force. At present, the needs of clients are no longer simply professional. Because pure professionalism cannot meet the multi-dimensional needs of clients to a certain extent, clients want lawyers to be a legal plus business partner. In this case, in addition to the role of legal experts, lawyers also need to become industry experts and business experts. The identity of a lawyer is more like a partner of the client who can create value. Only when lawyers truly get close to the clients can they create the path of professionalization in the industry.
DOCVIT’s practice on professional industrialization
Beijing DOCVIT Law Firm advocates the concept of professional industrialization within the industry and has been practicing the road of professional industrialization. The first concept of DOCVIT is the ultimate service and focus on the industry. Whether it is for the team or for the individual lawyer, you must focus on the industry. If there is no focus on the industry, then the development of the business continuity, structure or business sector will be hindered to a certain extent. The second concept is to deepen the cultivation and pay tribute to the industry. The implication for such concept is that we must have awe of the industry we choose. For the clients, the resolution as to problem of the industry is often more important than the matter of profession.
Practicing and adhering to the professional industrialization path will enable lawyers to practice in a sound and healthy development. In the process of realizing professional industrialization, deepening into the industry, condensing experience, creating products, and focusing on clients are the processes that lawyers must go through. In this process, lawyers not only face the pressure of performance, team and development, but also need all-round support of resources, market and profession.
DOCVIT pioneered the innovative professional industrialized lawyer entrepreneurial team incubation mechanism, aiming to provide comprehensive support for lawyers' professional industry entrepreneurship from experience, resources, market, professional and other aspects. Lawyers who have been deeply trained in professional industry have broken through the bottleneck of practicing development, completed professional development, achieved self-worth, and achieved rapid development. To this end, we introduce the innovative practices of DOCVIT in professional industrialization from the following three aspects:
1. DOCVIT provides professional industrialized experience
DOCVIT first proposed the concept of professional industrialization, and led the launch of the first cross-border alliance with the core of law in China - the Green Legal Global Alliance. The GLGA is a core element of law. Through the penetration of law, cross-border and cross-industry alliances can be realized, and industry barriers can be effectively broken. Potential market opportunities can be tapped and market value can be increased through interaction, interoperability and integration among industries. Therefore, DOCVIT has the unique advantage of being able to effectively integrate resources and build a platform, and become the only law firm to occupy the top of “cross-border” and “profession”.
In terms of industry interaction, DOCVIT has established a good interaction mechanism with industry organizations, well-known enterprises, experts and scholars and news media. Regarding incubation, DOCVIT has successfully incubated multiple industry legal services teams. It is believed that with the accumulation of experience and the growth of scale, DOCVIT can incubate and build more professional legal service teams in the field.
2. DOCVIT provides professional industrialized start-up platform
Building a sharing law firm has always been pursued by DOCVIT. Under the dual brand and dual drive of the Green Legal Global Alliance and Beijing DOCVIT Law Firm, DOCVIT aims to create a professional industrialized start-up platform including resource integration, resource aggregation and resource release for lawyers dedicated to professional industry, which may also provide lawyers and entrepreneurs with real resources and markets that they can access.
Establishing a three-dimensional ecological professional industrialized start-up platform, relying on rich industry resources, DOCVIT adheres to the core values of “openness, freedom, innovation” and hopes to provide a multi-dimensional entrepreneurial empowerment platform for outstanding professional industry entrepreneur lawyers. With the mission of incubating and building professional industry-based expert talents, DOCVIT has always been committed to creating a shared and inclusive cultural atmosphere. By creating a green legal three-dimensional ecosystem and a highland for gathering resources, DOCVIT aims to share with knowledgeable people and provide entrepreneurial empowerment, resource empowerment, market empowerment, and professional empowerment for young lawyers, provide all-round comprehensive support for professional industrialized entrepreneurs, and eventually incubate the future professional industrialized expert talents.
3. DOCVIT provides professional industrialized incubating soils
DOCVIT continues to carry out the model innovation of professional industrialization incubation, aiming at providing a guarantee of balance of interests and stable development for professional industrialized entrepreneurial lawyers' team incubation. The professional industrialization incubation environment provided by DOCVIT includes: refactoring incubation mechanisms, innovative incubation products, custom incubation programs and building expert teams.
In terms of refactoring the incubation mechanisms, DOCVIT innovatively incubates the interest mechanism and forms a balance mechanism between platform and team for joint investment, benefit sharing and risk sharing, and on this basis, making precise match for the platform, team and personnel in regards to allocating interests, and finally achieve the effective integration of resources, market and professional traits of the entrepreneurial team. We firmly believe that only with team-based incentives can we create teams with greater value and teams that are truly recognized by the market.
In terms of innovative incubation products, DOCVIT takes the innovation demand of the industry as the starting point, deeply meets the needs of the industry, and focuses on discovering professional industrial products that have not yet been developed and continuously polishing and improving product quality to meet the real needs of the industry market. In the end, it will create innovative legal service products with the characteristics of visualization, menu-commending, systemization, profundity and industrialization.
In terms of customized incubation programs, DOCVIT has tailored its own, personalized, and customized incubation solutions based on the characteristics of different teams, including team positioning, product positioning, marketing solutions, and resource connecting. In the end, the simultaneous completion of the implementation and enforcement of the incubation program makes the professional industry products have the feature of high barriers, which makes the professional industrialized lawyers have strong competitiveness. Regarding building a team of experts, DOCVIT will help professional industrialized lawyers to transform from legal experts to industrial legal experts with clear identification, market recognition, industry reputation and client loyalty. DOCVIT is committed to building a professional industrialized lawyer entrepreneurial team into a team of healthy and high-quality experts with sustainable market, guaranteed business, professional development and team heritage.
The rise of client market faced by small and medium-sized law firms
Regarding the rise of client market, all law firms will have to deal with the following problems in the process of management and development:
1. the management mechanism;
2. the introduction and retention of talents;
3. the professional and industry positioning;
4. the solution for clients and market.
Among these problems, the most worth pondering should be the client and the market.
We divide the clients in market into two kinds, one is the entity clients, and the other is the individual clients. From the perspectives of client psychology and market perception, the changes of these two kinds of clients are totally different.
1. Change of the entity clients
For the entity clients, due to the continuous deepening on the degree of commercialization of the legal service market, the number of law firms for them to choose is getting bigger. The entity clients may choose law firms more suitable to their needs according to their standards and paying capacities. To a certain extent, this has completed the transformation of the market from the seller's market to the buyer's market, which gives the buyers more initiatives. Moreover, the requirements of entity clients are getting higher and higher, which not only include high quality and high efficiency, but also include high cost performance. Therefore, the pressure forced out by the market on “”earning less money and providing more services” is very realistic for every small and medium-sized law firm.
There is also a very significant change, which also poses a serious challenge to small and medium-sized law firms, is that the abilities of the in-house counsels of the entity clients are also on the rise. Some of the legal services that the law firm can undertake are internally digested by the legal team of the clients, which has led to the loss of the market that was originally owned by external lawyers. In addition, when in-house counsels choose external law firms, the screening conditions are gradually improved, and the requirements for the scale, professional team, and experience of the law firm are also very strict.
2. Change on the individual clients
The changes on the individual clients mainly include two aspects:
1. Right of access to information;
2. Recognition on brands.
Regarding the right of access to information, due to the mobile internet technology is getting more popular, there are more and more channels for individual clients, especially those with high educational backgrounds, to gain legal knowledge. Because of the improvement on the right of access to information, knowledge barriers are getting vanished, and thus, the standards on choosing lawyers are enhanced by individual clients.
In terms of the recognition on brands, in order to reduce the blind spots and risks of market selection, individual clients believe that choosing a law firm with high brand awareness is a reliable choice and can minimize the risk of uncontrollable risks. The subject matter involved in a individual client’s litigation case does not seem to be large, but for such client, this may be the only lawsuit ever encountered in a lifetime. Therefore, the outcome of the lawsuit has no room for manoeuvre, or it should be a great deal of cost for such client. As a result, individual clients' requirements for results can be very demanding.
The market competition pattern faced by small and medium-sized law firms
According to the development trend of legal services, it can be divided into five stages as a whole, namely, customization, standardization, systematization, serialization and popularization.
First of all, the customization stage reflects the comprehensive and special thinking of lawyers. With the increasing number of such legal service providers, customized services have evolved to standardize products. The standardized products will be further integrated to form a system. After the systemized products are assembled and combined, they become a serialized product. Finally, legal services will become popular.
Secondly, the market share in the industry is uneven. The larger legal service organization will have the greater legal service market, and the small and medium-sized law firms will get less legal service market share. Therefore, small and medium-sized law firms must position themselves in the right legal service layer, which should be in consistent with the psychological expectation of clients. Small and medium-sized law firms must take a different way and realize the overtaking.
Thirdly, technology has also caused a multi-dimensional impact on legal services, mainly reflected in: the connection mode of supply and demand sides, the working methods of lawyers themselves and the industrial types of legal services. Technology makes intangible services more and more tangible and quantifiable; clients are more accessible to some information, so they are increasingly demanding innovation and depth of legal services. The mere provision of information is of no value to current clients, and clients are not willing to pay for such legal services.
Finally, it is the invasion of alternative legal services. The Big Four accounting firms are stepping up their global legal business, especially in the financial and capital markets business. There are also many legal service companies that are also emerging and developing very rapidly. With the upgrading of China's internet technology, we can expect that even if China's legal service company is now subject to and restricted by policies, its development trend should not be underestimated in the next five years, which is bound to constitute a certain threat to legal service market for lawyers.
The way to break through the development of professional industry for small and medium-sized law firms
How to effectively respond to the rise of clients, how to effectively deal with competition from professional legal services provided within and outside the industry? We believe that professional industrialization may be the path for small and medium-sized law firms to achieve overtaking. The strict demand for legal services by entity clients requires law firms to perform the study of legal profession to the extreme, and to better understand the industry than clients do.
For the clients, the market environment is complex and changeable, and they will not give law firms or lawyers the time to learn to reduce industry barriers as before. Therefore, the faster the integration of the profession and industry is completed, the more likely it is to get business in an earlier stage. In addition, professional industrialization can effectively solve the efficiency problem. Some service products can be commoditized and can be quickly and easily produced. Finally, the label of professional industry should be strengthened, including brand awareness in professional industry.
The definition of professional industry can be divided into four dimensions. One is to arrange dialogue between the profession and industry, the other is to understand the industry better than the client, the third is to truly understand the key points of the industry, and the fourth is to be good at exploration and innovation.
For law firms, the experience deposition, comprehensive control, and customer dependence are the processes that must be experienced to achieve a professional industrialization path. Such a process needs to face the pressure of performance income generation, team pressure and long-term development in a short time. In the market, facing the rise of clients and an increasingly complex competitive market environment, it is necessary to solve short-term and long-term problems. In the short term, there may be some loss of clients, but this is more beneficial for the long-term development of small and medium-sized law firms.
Therefore, the road to professional industrialization is not the result of the law firm's initiative, but the market's force. At present, the needs of clients are no longer simply professional. Because pure professionalism cannot meet the multi-dimensional needs of clients to a certain extent, clients want lawyers to be a legal plus business partner. In this case, in addition to the role of legal experts, lawyers also need to become industry experts and business experts. The identity of a lawyer is more like a partner of the client who can create value. Only when lawyers truly get close to the clients can they create the path of professionalization in the industry.
DOCVIT’s practice on professional industrialization
Beijing DOCVIT Law Firm advocates the concept of professional industrialization within the industry and has been practicing the road of professional industrialization. The first concept of DOCVIT is the ultimate service and focus on the industry. Whether it is for the team or for the individual lawyer, you must focus on the industry. If there is no focus on the industry, then the development of the business continuity, structure or business sector will be hindered to a certain extent. The second concept is to deepen the cultivation and pay tribute to the industry. The implication for such concept is that we must have awe of the industry we choose. For the clients, the resolution as to problem of the industry is often more important than the matter of profession.
Practicing and adhering to the professional industrialization path will enable lawyers to practice in a sound and healthy development. In the process of realizing professional industrialization, deepening into the industry, condensing experience, creating products, and focusing on clients are the processes that lawyers must go through. In this process, lawyers not only face the pressure of performance, team and development, but also need all-round support of resources, market and profession.
DOCVIT pioneered the innovative professional industrialized lawyer entrepreneurial team incubation mechanism, aiming to provide comprehensive support for lawyers' professional industry entrepreneurship from experience, resources, market, professional and other aspects. Lawyers who have been deeply trained in professional industry have broken through the bottleneck of practicing development, completed professional development, achieved self-worth, and achieved rapid development. To this end, we introduce the innovative practices of DOCVIT in professional industrialization from the following three aspects:
1. DOCVIT provides professional industrialized experience
DOCVIT first proposed the concept of professional industrialization, and led the launch of the first cross-border alliance with the core of law in China - the Green Legal Global Alliance. The GLGA is a core element of law. Through the penetration of law, cross-border and cross-industry alliances can be realized, and industry barriers can be effectively broken. Potential market opportunities can be tapped and market value can be increased through interaction, interoperability and integration among industries. Therefore, DOCVIT has the unique advantage of being able to effectively integrate resources and build a platform, and become the only law firm to occupy the top of “cross-border” and “profession”.
In terms of industry interaction, DOCVIT has established a good interaction mechanism with industry organizations, well-known enterprises, experts and scholars and news media. Regarding incubation, DOCVIT has successfully incubated multiple industry legal services teams. It is believed that with the accumulation of experience and the growth of scale, DOCVIT can incubate and build more professional legal service teams in the field.
2. DOCVIT provides professional industrialized start-up platform
Building a sharing law firm has always been pursued by DOCVIT. Under the dual brand and dual drive of the Green Legal Global Alliance and Beijing DOCVIT Law Firm, DOCVIT aims to create a professional industrialized start-up platform including resource integration, resource aggregation and resource release for lawyers dedicated to professional industry, which may also provide lawyers and entrepreneurs with real resources and markets that they can access.
Establishing a three-dimensional ecological professional industrialized start-up platform, relying on rich industry resources, DOCVIT adheres to the core values of “openness, freedom, innovation” and hopes to provide a multi-dimensional entrepreneurial empowerment platform for outstanding professional industry entrepreneur lawyers. With the mission of incubating and building professional industry-based expert talents, DOCVIT has always been committed to creating a shared and inclusive cultural atmosphere. By creating a green legal three-dimensional ecosystem and a highland for gathering resources, DOCVIT aims to share with knowledgeable people and provide entrepreneurial empowerment, resource empowerment, market empowerment, and professional empowerment for young lawyers, provide all-round comprehensive support for professional industrialized entrepreneurs, and eventually incubate the future professional industrialized expert talents.
3. DOCVIT provides professional industrialized incubating soils
DOCVIT continues to carry out the model innovation of professional industrialization incubation, aiming at providing a guarantee of balance of interests and stable development for professional industrialized entrepreneurial lawyers' team incubation. The professional industrialization incubation environment provided by DOCVIT includes: refactoring incubation mechanisms, innovative incubation products, custom incubation programs and building expert teams.
In terms of refactoring the incubation mechanisms, DOCVIT innovatively incubates the interest mechanism and forms a balance mechanism between platform and team for joint investment, benefit sharing and risk sharing, and on this basis, making precise match for the platform, team and personnel in regards to allocating interests, and finally achieve the effective integration of resources, market and professional traits of the entrepreneurial team. We firmly believe that only with team-based incentives can we create teams with greater value and teams that are truly recognized by the market.
In terms of innovative incubation products, DOCVIT takes the innovation demand of the industry as the starting point, deeply meets the needs of the industry, and focuses on discovering professional industrial products that have not yet been developed and continuously polishing and improving product quality to meet the real needs of the industry market. In the end, it will create innovative legal service products with the characteristics of visualization, menu-commending, systemization, profundity and industrialization.
In terms of customized incubation programs, DOCVIT has tailored its own, personalized, and customized incubation solutions based on the characteristics of different teams, including team positioning, product positioning, marketing solutions, and resource connecting. In the end, the simultaneous completion of the implementation and enforcement of the incubation program makes the professional industry products have the feature of high barriers, which makes the professional industrialized lawyers have strong competitiveness. Regarding building a team of experts, DOCVIT will help professional industrialized lawyers to transform from legal experts to industrial legal experts with clear identification, market recognition, industry reputation and client loyalty. DOCVIT is committed to building a professional industrialized lawyer entrepreneurial team into a team of healthy and high-quality experts with sustainable market, guaranteed business, professional development and team heritage.
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Voting rights can be restricted if shareholders fail to invest?2021-08-24In recent years, the competition for corporate control has become more and more intense. The form of competition is no longer confined to the background, but gradually moved to the stage. In order to fight for corporate control, the disputes about the representation of corporate will caused by the internal power struggle in commercial cases are increasing. Voting right has also become the focus of contention among shareholders. If they fail to fulfill the obligation of capital contribution on schedule, there are serious differences among shareholders about whether their voting right can be limited. In the absence of special provisions in the articles of association, should shareholders vote according to the proportion of paid in capital contribution or the proportion of subscribed capital contribution?
About DOCVIT
MoreBeijing Docvit Law Firm (Docvit in short), which was established in 2003, is one of the few earliest law firms instituted as a corporation rather than partnership in China. Aimed at building a high quality law firm with professional competence, Docvit fostered innovation under its unique system of operating as a large-scale corporation. Benefited with its core-competitiveness, such as international insights and full IT application management mode, to name some of them, Docvit pursued cross-border development and established an image of high-end brand in a industrialized market.
In 2015, Docvit was ushered into a “3.0 era” of moderate-scale development, which witnessed the gradual formation of nation-wide and world-wide layout with the start-up of branch offices in Tianjin, Jinan, Shenzhen, Shanghai, Chengdu, Taiyuan, Hong Kong, London and other places in succession.
Performance
MoreAchievements of Docvit | We managed to win the bid for the legal service institutional repository of China National Nuclear CorporationAchievements of Docvit | We managed to win the bidding for the alternative repository of legal services intermediary institution of China Petroleum & Chemical Sales Co., Ltd. Shanxi BranchAchievements of Docvit | We managed to enter into contracts with several institutions and would provide regular legal services for them.Achievements of Docvit | We managed to get shortlisted in the external non-litigious lawyer repository of China Chengtong Holdings Group Ltd.
Brand Activity
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[08/31]Forum on Insurance & Insurance Asset Management Industries’ Innovation and Legal Health Development under the New Pattern of Financial Opening-up and Release Conference of Blue Book of Legal Health of China’s Insurance Industry 2018 (Index & Special Reports)
At present, China’s financial open-up has entered a substantial promotion stage, and as an important link thereof, opening-up of insurance industry plays a unique role in financial opening-up. Under the new opening-up pattern of finance and insurance industry, and in the new situation of pan-asset management and integrated development, it has become an urgent topic to discuss and study how China’s insurance asset management institutions should grasp development opportunities, meet challenges head on, how to promote standardized transformation and sound development of the insurance and insurance asset management industries, and how to achieve innovation and high-quality development in compliance. -
[08/17]Launch ceremony of DOCVIT bond default dispute resolution new product line and seminar on bond default disposal and bond market development under the new normal of economy
Halfway through 2019, how will the bond market perform in the second half of the year? How will various factors affecting the bond market work? Where are the investment opportunities? How do bond default disposal and bond market develop under the new normal of economy? In order to discuss the above issues in depth, Beijing DOCVIT Law Firm will hold a seminar “bond default disposal and bond market development under the new normal of economy”. At the seminar, DOCVIT bond default dispute resolution new product line will be released; the product line studies and analyzes the development environment of China’s bond market and the problems and challenges facing its dispute resolution in the context of the new normal of economy and, from a legal perspective, explores the new ideas on bond default disposal in the context of tighter regulation. -
[08/03]3rd Forum on China’s Economic Development and Legal Regulation and Release Ceremony of GLGA Blue Book of China’s Non-performing Assets 2018
In recent years, in the face of a complex international environment and arduous tasks of domestic reform, development and stability, China's economy has maintained a generally steady development trend. However, the Sino-US trade issue is still unresolved and, given the aftershocks of domestic market’s breaking the rigid payment, can China’s economy maintain low volatility and high-quality, stable development in the future? And what opportunities and challenges will China’s macroeconomic development face?
Honors
MoreOver the years, business and brand of DOCVIT have matured and won the "Special Contribution Award of All China Lawyers Association", "Excellent Law Firm in Beijing", "Excellent Law Firm in Chaoyang District", ALB2016 Asia Top Ten Elite Law Firm, 2018 Outstanding Law Firm Award by China Business Law Journal, etc.