Clifford Chance Beijing financial regulatory partner Yang Tiecheng has left the firm to join China’s Han Kun Law Offices.
Yang, who led a rare China financial regulatory practice for Clifford Chance, advises foreign financial institutions on Chinese programs such as the Qualified Foreign Institutional Investor, which allows foreign investors to buy Chinese stocks in mainland China, and the Qualified Domestic Institutional Investors, which allows Chinese investors to buy securities in overseas markets.
Last year, he helped U.K.-based asset manager Insight Investment gain access to China’s inter-bank bond market in the wake of new regulations put out by the People’s Bank of China, the nation’s central bank.
Yang joined Clifford Chance in 2001 and became a partner in 2009. Earlier in his career, he was an in-house lawyer and credit officer at government-run Beijing International Trust Co. Ltd.
Under current Chinese regulations, Clifford Chance is allowed to provide information to clients about the impact of the Chinese legal environment but is barred from giving Chinese legal opinions.
Beijing-based Han Kun has managed to recruit several partners from international firms. In March, it hired former Morgan, Lewis & Bockius Beijing partner Duan Min, and in January it poached former White & Case China practice head Li Xiaoming.
Han Kun started as a boutique firm focusing on private equity and venture capital work, but it has been expanding with the aim of becoming a full-service firm.