China News Network, July 7 (Zhongxin Finance, Gong Hongyu) "For the trade industry, the Chinese market is very large, and everyone has seen that China's consumption willingness has grown rapidly this year, and now it may be the best opportunity for some foreign companies to enter the Chinese market." Huang Tao, a senior partner at King & Wood Mallesons, said in a recent interview with China News Finance.

As one of the earliest partnership law firms in China, King & Wood Mallesons has witnessed the development and growth of many multinational companies in the course of providing legal services for multinational companies investing in China and Chinese companies seizing global development opportunities for many years. At the same time, the firm itself is a global company with great potential.

Speaking of the global operation of enterprises, Mr. Huang Tao, who has rich experience in cross-border commercial legal services, believes that the Chinese market is still very attractive to multinational enterprises at present, with both opportunities and challenges.

There are still huge business opportunities for multinational companies in China

"Over the past few years, the world has been affected by events such as geopolitics, the coronavirus pandemic and the Ukraine crisis, and many major countries or economies have made adjustments to their previous policies. Some major economies have adopted economic nationalist and protectionist policies, which have had some impact on the operations of both multinational and Chinese companies. Lawyer Huang Tao mentioned.

In Huang Tao's view, with China's response to the new crown epidemic, the huge Chinese market is still very attractive to multinational enterprises. Multinational enterprises face huge business opportunities and opportunities.

Lawyer Huang Tao said that especially in terms of industries, for some trading industries, the Chinese market is very large, and everyone has seen that China's consumer willingness is growing rapidly, and now it may be the best opportunity for some multinational enterprises to enter the Chinese market.

"Conversely, in a complex environment, multinational companies face some challenges." Lawyer Huang Tao said that on the one hand, the challenges faced by multinational enterprises come from the adjustment of the industrial policies of the home country of multinational enterprises and the restrictions on China in the home country, which makes it impossible for these multinational enterprises to play their own commercial intentions in the Chinese market. "All kinds of restrictions, trade barriers, technical barriers, etc., but seeing business opportunities but not seizing them, this is a difficulty for multinational enterprises."

"Another challenge is that under the restrictions and sanctions imposed on China by Western countries led by the United States, the Chinese government is bound to take countermeasures," Huang said. This requires managers of multinational companies to adjust their thinking beyond the commercial market to regulatory and legal changes. It is necessary to raise the construction of the compliance system to a new height. All kinds of business activities must not only comply with the requirements of the home country of investment, but also pay greater attention to the new regulatory requirements of the Chinese government. ”

The vitality of international exchanges between multinational enterprises has revived

With the economic development and scientific and technological progress, more and more Chinese enterprises have gradually grown into multinational companies and are active on the global stage. Beijing-based King & Wood Mallesons was one of the first Chinese law firms to set up offices overseas. Over the past 30 years, King & Wood Mallesons has established 31 offices in Asia, Europe, North America and the Middle East, with more than 3000,<> lawyers.

In 2013, the Belt and Road Initiative brought new development opportunities to King & Wood Mallesons. In 2019, KWM established the Belt and Road International Cooperation and Promotion Centre to leverage KWM's international and diversified strengths to provide services to Chinese and foreign participants who wish to explore the opportunities brought by the Belt and Road. To date, King & Wood Mallesons has provided legal services for more than 1000,65 Belt and Road projects and matters, covering <> countries along the Belt and Road, covering energy, transportation, information, infrastructure, finance, manufacturing and services.

In 2023, China's economic recovery will accelerate, opening up will continue to expand, Sino-foreign exchanges and cooperation will pick up, and international exchanges between multinational enterprises will rejuvenate. King & Wood Mallesons, which is closely linked to domestic and international markets, is also perceiving this positive environmental change.

"Many of my colleagues have been returning to normal international business trips and travel since February, and this feeling is obvious." Lawyer Huang Tao mentioned.

In Mr. Huang's view, this year's international environment is a challenge for multinational enterprises (in China), and there are many opportunities. At this time, enterprises and entrepreneurs need to have the courage, identify the situation, and have the courage to go out.

"Under the current circumstances, under the premise of making a full assessment and ensuring safety, there are still many opportunities for Chinese companies to 'go out' and embrace the world." Lawyer Huang Tao said. (End)