King & Wood Mallesons and Chinese law firm C&T Partners are advising Dongguan Rural Commercial Bank on its US$1.3 billion Hong Kong initial public offering (IPO).

The Hong Kong capital markets has been in a lull ever since China released a barrage of new laws and regulations, cracking down on tech companies and their management of the data they collect. As part of the clampdown, investigations are being conducted into major tech companies like Didi, which was listed in New York in June and raised over US$4 billion.