| TUESDAY JANUARY 25 2000 PUBLISHED BY CHINA DAILY | |||||
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Elevated rail still in track-laying stage Drugs in mail Carmival mood in Yangtze ballroom Merger brings first exhibition JV Water transport services safe for Spring Festival Survey:drinkable water at low ebb Blast-hit road reopens No deaths, no injuries from gas explosion 4 years for date-raping 17-year-old A ride on the wrong side of the law Trash-picker who steals bag quickly arrested Ambitious young man dies in Germany |
Legal services market to heat up WHILE China's imminent entry to the WTO spells a great opportunity for the development of China's legal profession, it must restructure to meet the challenges, according to a seminar sponsored recently by Shanghai-based AllBright Law Offices. According to Jason Shi, a partner of AllBright, WTO entry means the Chinese economy will participate more actively in economic globalization, which will throw up more economic disputes. Litigation involving foreign businesses will rise dramatically. This will include increases in international trade disputes, investment disputes, labour disputes and intellectual property disputes. The development may also result in an increase in professional legal services involving foreign individuals, particularly in such cities as Beijing, Tianjin, Shanghai, Guangzhou and Shenyang. "China's accession to the WTO will also stimulate domestic demand for legal services. All facts point to the trend that China's macroeconomy is now in a stage of strategic restructuring and readjustment," said Shi. But challenges facing the profession are also great. In negotiating WTO entry, the Chinese Government promised to open up the legal services market. More foreign law firms will come in. According to statistics, after China and the US reached a bilateral agreement on China's accession to WTO towards the end of last year, nearly 30 foreign law firms applied to the Ministry of Justice to set up law offices in Shanghai. About 81 foreign law firms and 26 Hong Kong firms have already been allowed to set up offices on the Chinese mainland. The biggest challenge facing domestic firms may be the drain on local staff as more and more look to foreign firms for employment. Copyright 2000 by Shanghai Star. All rights reserved. |
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