The firm declined to provide additional comment.
Global Presence and Local Impact
Dechert currently has around 20 offices worldwide. It has had a physical presence in Beijing and Hong Kong since 2008, with 14 attorneys now in Hong Kong and three in Beijing, its website states. The decision to close the Beijing office is part of a broader trend among international law firms reassessing their operations in China.
Since mid-2023, multiple law firms have reduced their presence in mainland China and Hong Kong. They cite a challenging macroeconomic environment driven by geopolitical tensions, laws and regulations that make it harder for foreign law firms to thrive, increased competition from large, high-quality Chinese law firms, rate constraints, and, in some cases, challenges in getting paid by clients.
Dechert To Close Offices In Beijing : Industry-Wide Trend
Weil Gotshal & Manges LLP, Orrick Herrington & Sutcliffe LLP, Perkins Coie LLP, and Latham & Watkins LLP all recently announced the closure of offices in Shanghai and Beijing. Meanwhile, Linklaters LLP and Kirkland & Ellis LLP conducted layoffs in the country, and Dentons shed thousands of lawyers in China when it separated from Dacheng.
