The Chinese stock market may have stumbled this week, but U.S. firms with offices there made great strides in 2006, with some saying their investments in China and other key foreign markets are starting to pay off.
At Paul, Hastings, Janofsky & Walker, which opened its first office in China five years ago, revenue there was up 50 percent in 2006, to $53 million. “Growth has been steady, but certainly, in the last year, it accelerated,” said Chairman Seth Zachary. “We see our patience being rewarded.”
