It is hardly controversial to say that the world is becoming increasingly globalised. The ever-improving human capacity to move ideas and objects around the world continues to raise the levels of cultural cross-fertilisation and commercial cooperation. There are few places where this has been as evident, and over such a sustained period of time, as Hong Kong. Straddling two distinct cultures for most of its existence - formerly as a British colony, now as a Special Administrative Region of China - it has had much practice.

Hong Kong's international outlook, mature legal system, established services-based economy and special access to the economic powerhouse of Mainland China all combine to place Hong Kong lawyers in an uniquely advantageous position. They are amply facilitated by these circumstances to sell their services to the rest of the world, in doing so contributing to Hong Kong's position as a commercial and financial hub. While some practitioners choose to keep a local focus, the limiting factor of Hong Kong's small geography plus the incentive provided by the high volume of cross-border activity means that many are willing and able to bring an international dimension to their work.

Welcome to Hong Kong

First-time visitors to Hong Kong often experience sensory overload. The city can be a chaotic onslaught of energy from all angles, a cacophony of roadside noises, a mass of buzzing neon signage and enormous bustling crowds. It's uncomfortably humid most of the time, but as one observer noted, it's not the heat, it's the humanity. However, it is also a fascinating blend of Eastern and Western cultures, and offers some of the most striking juxtapositions of old and new to be seen anywhere.

A further look reveals, above all else, a city that works. It is safe, convenient, and public transport is world-class. Anything and everything is available around the clock, particularly an array of cuisines including some of the best and most authentic Chinese variations. The architecture is spectacular, and the abundance of escalators a welcome incursion into the unforgiving topography.

Those who live here know the rest of the benefits. Hong Kong is never boring and always changing. You are free to do almost anything you like, and the comforts of 'home' should that be elsewhere, can always be found. Tax rates (both personal and corporate) are low, and you can pay as little for life's necessities or (more likely) as much for life's luxuries as you like. If the in-town intensity and air pollution become too much, the country parks offer a surprisingly refreshing time-out.

Founded as a British colony under the treaty of Nanking in 1842, Hong Kong was specifically chosen for its proximity to Mainland China and its virtues as a natural harbour. Indeed, there was little else to commend the island, referred to at the time as a 'barren rock'. Through its famous entrepreneurial spirit and applied productivity and creativity, Hong Kong has since evolved into a world-class financial, trading and business centre, and a true world city. This has survived and, although the city's personality is shifting, thrived since the People's Republic of China assumed sovereignty in 1997.

Laws and Administration
When Hong Kong became a Special Administrative Region (SAR) of the People's Republic of China (PRC) the concept of 'one country, two systems' came into play. The HKSAR's founding constitutional document, the Basic Law, stipulated that the existing economic, legal and social systems were to be maintained for 50 years. This included all the laws previously in force except for any that contravened the Basic Law and subject to any amendment by the HKSAR legislature. National laws of the PRC are not to be applied in the HKSAR except for those relating to defence and foreign affairs, thereby affording Hong Kong a high degree of autonomy. As the previous legal system has by and large remained in place, the common law as originating in England, widely familiar to and accepted by the international business community, continues to be practised in Hong Kong.

A Commercial City
Perhaps above all else, Hong Kong is a place of commerce. In his Policy Address 2008-09, Chief Executive Donald Tsang declared: 'Hong Kong is the only Chinese city in the same elite league as the global financial centres, London and New York'. A frequent advocate for free trade, and often trumpeting its own credentials in that regard, Hong Kong (through the Trade Development Council) claims to be the world's freest economy.

A more quantifiable claim is that Hong Kong is currently the world's most services-oriented economy. Service sectors accounted for more than 90% of the total 2007 GDP of US$207 billion. The negative trade in goods (imports marginally outweighing exports, including re-exports) is compensated for almost twofold by the positive trade in services. Legal services make a considerable contribution, as will be explored below.

First, some other impressive metrics. The UNCTAD World Investment Report 2008 indicates that Hong Kong is both the second largest source and the second largest recipient of foreign direct investment in Asia. It also has the world's second highest per capita holding and ninth largest total holding of foreign exchange reserves. Hong Kong consistently shows well in world rankings of the largest trading economies, foreign exchange markets, banking centres and stock markets.

Regional rivals in this hot-bed of economic expansion make it a task to maintain any advantage. For example, Hong Kong's free port of trade and strategic location make it a major cargo transshipment hub, and it has held the title of world's busiest container port for significant periods during the last two decades. However, it has now fallen behind Singapore and, more recently, Shanghai. Nonetheless, economic growth has continued and was maintained around 7% per annum for several years prior to the 2008 financial tsunami.

There is no doubt that this tiny territory, with its highly compressed population of just 7 million, has done so well by virtue of its international outlook. While this has afforded great opportunity, there is also obvious risk. 'As an externally-oriented economy, Hong Kong is naturally vulnerable to changes in the external economic environment,' noted the Chief Executive, perhaps with the benefit of some hindsight, in his Policy Address. 'To address these issues, we need to co-operate with other governments as well as international organisations.'

The Legal Profession

Hong Kong's legal services industry is made up of local and international professionals with the (not necessarily correlating) local and international expertise to provide a full range of services. The jurisdiction is an established legal services hub in Asia, lawyers working hand in hand with their counterparts from Mainland China and many other jurisdictions in multinational transactions and localised dispute resolution.

Structure and Statistics
The legal profession in Hong Kong is divided into two separate and distinct branches, namely solicitors and barristers. The two work together and play complementary roles. Solicitors typically represent clients in transactions and disputes but have limited rights of audience before the courts. Barristers specialise in court work and advocacy. The professional associations which regulate the solicitors' and barristers' professions are, respectively, the Law Society of Hong Kong and the Hong Kong Bar Association.

At the time of publication there were 6193 solicitors with Hong Kong practising certificates. Of these, 317 were sole proprietors, 1710 were partners in firms, 2071 were assistant solicitors in firms and 863 were consultants. Of the 1232 not in private practice, a majority were working as corporate or in-house counsel. There were additionally 821 trainee solicitors. The offices of law firms in Hong Kong employed 14,102 unqualified staff, outnumbering their qualified colleagues by around three to one.

There are just over 1000 practising barristers in Hong Kong, with 80-odd senior counsel or 'silks' among them. Not all of those barristers maintain an active practice; this is to some extent counterbalanced by the dispensations occasionally granted to visiting overseas barristers to act in particular local matters. Combining both branches of the profession, lawyers amount to roughly 0.1% of Hong Kong's population, and around half that again of Hong Kong's total workforce.

Skills and Qualification
Long gone are the days when all Hong Kong legal practitioners had qualified in England and a Hong Kong practice was a mere boat trip away. Local qualifications are nowadays far more stringently administered in order to ensure the quality of the profession and the relevance of its knowledge. The older model is no longer serviceable because, while much Hong Kong legislation and jurisprudence still follows England's lead, the two jurisdictions have undertaken law reform at different paces and, importantly, as appropriate for local conditions. Further, and especially since 1997, Hong Kong is increasingly looking for positive influences from amongst the other common law jurisdictions of the world in drafting new laws and re-interpreting old ones.

Qualification as a solicitor comprises a lengthy and rigorous series of academic and practical steps. The usual path begins with a four year LLB (or optionally a JD for postgraduates), followed by one year's practical and skills-based training (PCLL), followed by two years?traineeship (or articles) under a qualified solicitor. Foreign lawyers may begin by registering as such, in which event they may practise in a firm but not advise on Hong Kong law. Many go on to qualify locally: those with three years' post-qualification experience in a common law jurisdiction and those with five years' post-qualification experience in a non-common law jurisdiction may do so by sitting a series of exams (OLQE); others are required to take conversion courses followed by the PCLL and traineeship. All admitted solicitors must undertake continuing professional education.

Each of Hong Kong's three law schools offers courses designed to prepare students for cross-boundary and international commercial practice. PRC law electives are commonplace at all levels. Masters programmes in international trade are available - and popular. Academics are sourced globally. As an example of the international reach of Hong Kong tertiary education, the University of Hong Kong recently announced that its destination nations for exchange studies would grow in 2009 to 28, with Chile, South Africa and Israel the newest additions. It also announced a 10% rise in the number of outgoing exchange students in 2007/08 with some 800 students studying abroad, almost matched by the 750 students from various countries on reciprocal exchange. HKU has arrangements in place for credit-bearing exchange studies with over 180 partner institutions.

The importance of skills diversity to Hong Kong law firms cannot be understated, particularly in respect of skills and experience relevant to the big growth market of Mainland China. Increasingly, Hong Kong firms need local graduates to have full English and Chinese (Cantonese and Mandarin/Putonghua) language skills. While qualification in any relevant overseas legal system is looked upon favourably, knowledge of Chinese law is becoming an increasingly common requirement. 'At the moment, when the market is quite tough, firms will be much more adamant about the type of qualifications they require,' says Olga Yung, legal recruiter at the Hong Kong office of Michael Page International. 'A lot of firms at the moment are looking for dual qualifications so that lawyers can work on both Hong Kong and cross-border deals.'

Economic Impact
Looking at the output of the Hong Kong legal profession in the context of international and cross-boundary work, two notable facts about legal services exports are (i) where they are going and (ii) how they are growing. According to official surveys, exports amounted to US$121 million (HK$943 million) in 2006, up by 17.3% from 2005. Around half of the exports were to Asia, and more than half of those to Mainland China. See Table A.

Hong Kong and China

Hong Kong has always been a gateway to China, but that gate has not always been open. However, since the Mainland began economic reform and adopted the open-door policy in 1978, and particularly since reunification in 1997, economic links have gone from strength to strength. For many Hong Kong firms, Mainland-related transactions are increasingly the key movers.

A Special Relationship
Closely proximate to Mainland China and operating semi-autonomously under 'one country, two systems' Hong Kong has the best of both worlds. It is welcoming to international visitors, with English being one of the official languages, and to Mainlanders, with Chinese being the other. These factors have helped make Hong Kong the preferred platform both for foreigners doing business and investing in China and for Mainland enterprises looking to diversify their investments and businesses offshore.

Because of its relative familiarity, transparency and stability, Hong Kong law is often the choice of law in Mainland-related cross-boundary deals. In a sense, Hong Kong acts as a legal risk manager in these deals. Mergers and acquisitions, for which China is the largest market in Asia, provide a good example. The HKTDC reports that seven of the top 10 advising law firms (in 2007) in M&A deals in Asia (excluding Japan) have established presences in Hong Kong.

A recent HKTDC survey of law firms in Hong Kong revealed that 83% of respondents had conducted cross-boundary commercial transactions and almost 70% had acted for Mainland clients. Further, almost 80% indicated that they saw good and steady prospects with regard to cross-boundary commercial transactions in the next three to five years.

With the Hong Kong administration keen to increase economic integration with the Pearl River Delta region, including further cooperation with Guangdong and the eventual development of a 'Hong Kong-Shenzhen international metropolis', there are no signs that the momentum will slow. The promotion of cooperation in service industries has been specifically identified as a priority, setting the conditions for Hong Kong's commercial and legal expertise to shine.

CEPA and Further Cooperation
A high-profile mechanism for the advancement of this priority is CEPA: the Mainland and Hong Kong Closer Economic Partnership Arrangement, implemented in 2004. While China's accession to WTO membership
in 2001 led to some general improvement in market access conditions, CEPA goes further. It offers tariff-free treatment for all products of Hong Kong origin going into the Mainland and liberalisation measures for a range of service sectors.

The liberalisation measures applied to the legal services sector effectively boost the demand for Hong Kong legal services by allowing them to enhance their Mainland China footprint. The measures offer special exemptions, such as relaxing the residency requirements normally applied to foreign firms setting up in the Mainland; grant special permissions, such as allowing Hong Kong barristers to act as agents in Mainland civil litigation in the capacity of citizens; and provide better pathways, such as for the attainment of Mainland professional qualifications by Hong Kong lawyers. In 2007, 143 Hong Kong residents had sat National Judicial Examinations which would permit them to engage in non-litigation legal work (or litigation in matrimonial and succession cases, provided there is a Hong Kong connection) in Mainland law firms.

One very visible change has been the easing of restrictions on representative offices and associations between Hong Kong and Mainland law firms. This has opened up the possibility for true one-stop-shop service in respect of both Hong Kong and Chinese law. Thus far, nine Mainland firms have established presences in Hong Kong and five of them have formed associations with local firms. Hong Kong firms have been more prolific, establishing 77 representative offices in the Mainland and forming six associations with local firms. Shanghai, Beijing and Guangzhou, China's powerhouses of economic activity, are the most popular destinations for Hong Kong firms, with some of the larger firms setting up in all three.

From one point of view, CEPA has fired the starter's gun in a race between Hong Kong and Mainland firms as to who can move in on the other's turf more quickly and effectively. However, the strengths of each player are clearly different, pointing towards collaboration rather than competition. The strengths of the Mainland firms include local knowledge, business and government connections, and potentially huge financial and human resources. The strengths of the Hong Kong firms tend to include wider knowledge of relevant international laws and greater experience with international business transactions and, where necessary, dispute resolution - not to mention the home-ground advantage when it comes to working with and litigating Hong Kong law. What they bring to each other is a better ability to serve clients across borders, and consequently more business.

James Mendelssohn, Chief Executive of MSI Global Alliance in the UK, agrees that connectivity equals opportunity. Taking the example of law firm networks in India, he says:

"Strong relationships with like-minded firms in a neighbouring city, albeit within the same jurisdiction, can provide real benefits that far outweigh the potential cost of lost referrals. Firms should ask themselves, first of all, whether they would really lose any inward referrals anyway. If a client needs support in, say, Delhi, but the Mumbai law firm in the network has all of India in its territory, is that client going to go to the Mumbai firm? Of course not. It will seek out a Delhi-based firm, outside of the network. So the Mumbai firm is not only not going to lose referrals by having a Delhi firm in the network, but it is also likely to attract better work from larger clients of the overseas member firm who will realise that the capability in India as a whole is seriously enhanced by having a national presence rather than a single firm in Mumbai."

Servicing Cross-Boundary Deals
At the end of the day, the Hong Kong profession simply does not have anywhere near the critical mass to mount a solo assault on the enormous geography of the Mainland. In practice, size is not nearly as important as the right knowledge and service. It is in this context that the broad capability of Hong Kong firms becomes apparent. It would be a misconception to think that only full-service international firms are competent to offer cross-boundary legal services. In fact, many clients establish relationships with local Hong Kong firms which have extensive experience in cross-boundary matters and where close attention from senior partners is readily available.

'We seldom use city firms,' says in-house counsel at a major Hong Kong property developer. His company uses multiple resources when conducting cross-boundary joint ventures in China, staying close to home where possible and tapping specialised resources where needed. Outlining a typical transaction workflow, he says: 'Most of the time we use Hong Kong lawyers in conjunction with Chinese lawyers. Take, for example, an acquisition in China such as purchasing an existing commercial complex. First, we would use Hong Kong lawyers to draft the MOU and enter into preliminary agreements with the vendor. Next, we would do the due diligence work in China, and for that we also instruct Chinese lawyers.'

Clients stationed abroad may gravitate towards international rather than local firms, but again Hong Kong tends to be the base for the transaction. 'If we are doing an acquisition and the target is in China, we will use a Hong Kong set of lawyers,' says Linda Wong, Regional General Counsel for Unilever, based in Singapore. 'If you are buying a company with any sort of diversity they will have businesses across the region. That is the benefit of Hong Kong as a hub. In fact, you will find that your counterparts and your competitors will also be using lawyers in Hong Kong.'

Regionalisation and Globalisation
Foreign lawyers have been commonplace in Hong Kong since early colonial times. Arguably, they held a position of advantage before the first local law school was opened in 1969. While local lawyers have since moved to outnumber expatriates - in recent times assisted by the abolition of automatic qualification for English lawyers and the establishment of the registered foreign lawyer scheme, and counterbalanced somewhat by the easing of restrictions on the practice of Hong Kong law by international firms in Hong Kong - cooperation and expansion have continued across the board. Today, local and international law firms in Hong Kong maintain strong established international business networks and clientele. HKTDC reports that 70-80% of local firms have served clients in overseas markets.

International Connections
There are currently 66 foreign law firms in Hong Kong. Around half have localised their practice, 15 via associations with local firms. As further evidence of integration, more than half of the 1244 registered foreign lawyers in Hong Kong are employed by local firms, a true intermingling of inside and outside talent.

Local firms adopt numerous models to attract overseas business and, particularly at the deeper end of the pond, to enhance their cross-border credentials. Ad hoc referrals are at the start of the scale, followed (in somewhat interchangeable order) by informal agreements, formal associations, membership of networks, outward expansion and, finally, mergers.

The cost/benefit analysis of each model may be relatively straightforward when considering nearby geographies such as Hong Kong and Mainland China. The picture can, however, become more complex when firms are looking to satisfy regional or global legal services requirements. James Mendelssohn of MSI Global Alliance says: 'In a globalised environment, the lesson that should be drawn is the need to apply the decision-making process of selecting the appropriate business model from the basis of a considered strategic review, rather than as a knee-jerk reaction to a particular need or problem.'

Lindsay Esler of Deacons, a Hong Kong firm which has undertaken considerable regional expansion over the years, would agree. 'Way back, I think there was a general feeling amongst law firms that you had to be big and have a big geographic spread or you'd be crushed,' he says. 'As time went on, we started to realise that to aspire for complete coverage of the Pacific Rim was very ambitious, and that we had so many opportunities on our home turf.'

As an alternative to attempting full and integrated coverage on its own, Deacons opted to network. It recently became the Hong Kong member of Lex Mundi, an association of 160 independent law firms with over 560 offices in 99 countries. This allows the firm to cooperate with and support 'like-minded' firms in other geographic centres and other jurisdictions.

On the other hand, many firms justifiably choose an integrated global model. It is the only way to meet the needs of some top-end clients. 'When we are dealing with a Hong Kong company, it will normally be a very big corporate project,' says Linda Wong of Unilever. 'We will be using multinational law firms with whom we already have a relationship, and they will usually fly with us across the region to do the deal.'

The last decade has seen numerous mergers - and takeovers - between willing local law firms and globals attempting to build a presence in Hong Kong. A recent and high profile example has been the combination of Asian firm JSM with the limited partnership of Mayer Brown LLP in the US and Mayer Brown International LLP incorporated in England and Wales.

JSM partner Andrew MacGeoch identifies one major benefit to be the ongoing cross-selling of expertise, rather than just referrals-as-required. Three practical examples of this are real estate investment trusts, fund formation and public/private partnerships. 'A lot of expertise in REIT securitisation and fund formation has traditionally been found in Europe and America,' he says. 'While that is largely still the case, we are building up our expertise in those areas for Hong Kong and Asia. If the REIT market were to take off in Hong Kong we would be able to draw upon that experience, especially from the US. Similarly, if the Hong Kong Government is looking at promoting PPP models and comparing European, US and Australian approaches, it's now a lot easier for us as a global firm to draw upon expertise in most of those locations.'

Of course, there are challenges inherent in managing such a model so the appearance to clients is that of a seamless service.  'In any organisation, communication is a critical part of a seamless business,' says MacGeoch. 'Making sure we are communicating properly across offices, across practice areas, across industry sectors and making sure we know who our counterparts are in other parts of the world and what they do. For our Asian offices that means quite a lot of late night conference calls.'

It would be difficult to find a greater and more readily available array of multi-jurisdictional capabilities than that on offer in Hong Kong. It is worth exploring some of main reasons why Hong Kong is so well adapted to its role as an international legal services hub.

Stability and Transparency
Hong Kong has a robust and long-established common law legal system. The rights and freedoms of Hong Kong people and those living here are founded upon the rule of law, an independent judiciary and a free and active press. Testament to the trust inspired by these conditions is the fact that some 3900 international corporations have established regional headquarters or offices in Hong Kong.

Hong Kong's governance standards have rated well in international comparative studies, ranking 12th in Transparency International's 2008 Corruption Perceptions Index. In Asia, only Singapore did better, netting 4th place. Both rated ahead of Japan (18), Taiwan (39), South Korea (40), Macau (43), Malaysia (47), China (72), Thailand (80), India (85), Vietnam (121), Indonesia (126) and the Philippines (141). Considering the current political turmoil in Thailand, any destination approaching halfway down the list seems risky.

'If you think about the other possible options, either you have a semi-impenetrable legal system like Korea or Japan, which foreign parties are not really familiar with and are therefore suspicious of, or you have possible regional inconsistency like China,' says Lindsay Esler. 'Hong Kong and Singapore are the two where you know what you get. The systems are equitable and familiar. Political influence is undoubtedly there in some cases, but it's not as overt. There is an expectation you will get a fair and predictable hearing.'

Dispute Resolution
This is a fundamental point. The quality of Hong Kong's adjudicative systems - both judicial and 'alternative' - makes it a preferred venue for dispute resolution in the region. The Hong Kong judiciary operates under the fundamental common law principle of independence from executive and legislative branches of government. Its structure is comparable to those of other common law jurisdictions, with courts of first instance, appeal and final appeal ensuring that litigants have ample opportunity to ventilate and have resolved their causes with sufficient scope for higher review. The quality of Hong Kong's judges is internationally recognised; indeed, many non-permanent judges of the Court of Final Appeal are or were judges of final appeal in other common law jurisdictions.

As an UNCITRAL Model Law jurisdiction, Hong Kong is also well-equipped to handle international commercial arbitration. The Hong Kong International Arbitration Centre was established in 1985 and provides the infrastructure and expertise for all forms of ADR. In 2007, it handled 448 international arbitration cases, a number exceeded only by the American Arbitration Association (621).

When domestic arbitrations are added to the analysis, the China International Economic and Trade Arbitration Commission processed an impressive 1118 cases in 2007, and the International Chamber of Commerce Court of Arbitration handled 599. However, in both cases, good business for these institutions is also good business for Hong Kong. The ICC has recently opened the first branch of its Court of Arbitration outside the Paris headquarters, and it is located right here.

'Hong Kong was a logical choice,' says Jason Fry, Secretary General of the ICC Court. 'It is a neutral forum for China arbitration and for enforcement of Mainland awards, and it is close to other areas that are important to the ICC like India, Korea and Vietnam. This affords us the opportunity to better serve regional clients.'

Location
That brings us to the all-important point of location. Hong Kong's position at the south-eastern tip of China provides not only proximity to Mainland China but also centricity within the rapidly developing East Asia region, home to some of the world's most vibrant emerging economies. Business travellers from the region will find Hong Kong to be well-equipped with accommodation, language support and conference facilities. Most major regional cities are within a few hours' flight from the multi-award-winning Hong Kong International Airport, and time differences are easily manageable. See Table B and accompanying map.

Looking Ahead

In the current economic climate, it is of course sensible to view the short and medium terms with some caution. Professional services consultancy Hildebrandt International predicts that 2009 will be tough for legal services providers worldwide, with no significant turnaround until late in the year at best.

However, there are always upsides. 'It is likely that there will be an up tick in legal work during this period as financial institutions are restructured, as 'blame' for the current crisis is sorted out through claims and counterclaims, and as a new regulatory system for our capital markets is put in place,' reads a firm-issued statement. 'Indeed, we are already beginning to see increases in litigation, bankruptcy, and employment law work related to the economic meltdown.'

While Hong Kong is undoubtedly exposed to world conditions, it is also protected to an extent by its close associations with China. Most analysts are currently forecasting that China will continue to grow at 7-8% in 2009 despite the worldwide slump. 'I think Hong Kong will remain a little better off than other markets, such as the UK, because Hong Kong relies quite strongly on PRC practice and therefore the workflow, though affected by the market, is still okay,' says Olga Yung of Michael Page. 'A lot of our clients are still hiring ?they are just hiring more cautiously or their requirements are more rigid.'

Hildebrandt also sees some long term positives. 'We believe that the present economic crisis may lead many firms to re-think the fundamentals of how they do business and how they deliver value to their clients, and, at the end of the day, that may not be such a bad result,' says the firm. 'Although there may be some restructuring in the way that legal services are delivered, the long-term prospects for the legal industry remain very good.'

Over many years, Hong Kong lawyers have proven their ability to adapt their services to the diverse needs of their clients whatever the circumstances. Despite what the next few years may bring, there must be little doubt that Hong Kong lawyers, like Hong Kong itself, will continue to survive, thrive, and maintain a world-class service.



Brendan Clift

Photography by Wilda Fong

 
香港：一個國際法律服務中心
緒論香港的法律服務及其國際和跨境業務能力。

世界正越來越趨於全球化，這已是不爭之論。人們將其意念和目標在全球運行的能力不斷提高，並不斷地提升文化交流和商業合作的水平，但很少有其他地方像香港般如此突出，以及在這方面實行了這般長的一段時間。香港自開埠以來直到現今（以前作為英國的一個殖民地，現在作為中國的一個特別行政區），一直跨越著兩個截然不同的文化，在這一方面她有著豐富的體驗。

香港所擁有的國際視野、成熟法律制度、以服務為基礎的具規模經濟，以及處於具龐大經濟實力的中國大陸的大門，這種種因素加起來，使香港的律師能夠享有一個獨有的有利地位，而所處的環境，亦大大有助香港律師向世界其他地方提供法律服務，有效地提升香港作為商業及金融中心的地位。雖然有一些執業者選擇以本地作為其發展的重心，但由於香港受到面積的局限，加上大量跨境活動的進行所形成的誘因，有更多人願意、並已開始將其業務國際化。

歡迎到香港來

第一次來到香港的訪客，通常會感到自己好像被疲勞轟炸一般。整個城市充滿從四面八方而來的混亂和衝擊，路上發出剌耳的聲音，霓虹廣告牌發出嘈雜的音響，人群熙來攘往。此外，香港大部分的時間都很潮濕，令人感到混身不舒服。然而，正如一位觀察人士所描述的，香港的引人入勝之處，並非她的炎熱，而是她的人文氣息。香港是中西文化美妙交融的地方，她讓人看到一個現代和古老能夠在到處並存的奇妙景象。

從更深一層觀察，你更會發現她是一個有作為的城市。這兒安全、便利，公共交通設施臻世界水平。任何東西、每一樣東西，都是為你全天候24小時提供，而各樣美食更是不在話下，其中包括一些最佳和最地道的中國菜式。這兒的建築亦相當具有特式，當中布滿在內穿插的自動扶梯。

居住在這兒的人，都曉得她在其他方面的好處。香港是一個令人永不厭倦的地方—她經常在變化著。人們可以自由地做幾乎任何自己所喜歡的事情，而「家」的舒適感覺，假如是存在於別處的話，你亦可以隨時在這兒搜尋得到。香港享有低稅率（不論是個人還是企業），你可以盡量節省，只花錢於日常的必須品方面；你也可以（及更可能地）按個人喜好，大灑金錢於奢侈品上。假如你感到城市太侷促，又受不了惡劣的空氣污染，你可以到郊野公園去，那裡為你提供怡人景緻，令你忘卻煩擾。

在1842年的南京條約下，香港成為了英國的一個殖民地。她的被選中，特別是由於她接鄰中國大陸，並且是一個優良的天然港。當時的香港被視作一塊荒地，沒有可誇的地方。但憑藉卓越的企業家精神及良好的生產力和創造力，她成為了一個世界性的金融、貿易和商業中心，以及一個真正的世界城市。自香港於1997年回歸中華人民共和國後，這種情況依然保留和繼續發展著，雖然她的個性正在有所轉變。

法律和行政
香港成為中華人民共和國的一個特別行政區後，「一國兩制」的概念施行於香港。香港特區的憲法性文件—《基本法》規定，現行經濟、法律及社會制度將維持50年不變。這包括以往實行的所有法律，除非其與基本法有所抵觸，或是經香港特別行政區立法機關的修訂。中華人民共和國的全國性法律不適用於香港特別行政區，但與國防和外交事務有關的除外，香港因而享有高度自治。由於以往實行的法律制度大部分依然保留，故源自英國並廣為國際商界所熟悉和接受的普通法，仍繼續施行於香港。

一個商業城市
也許最重要的，還是香港乃一個從事商業的地方。香港特別行政區行政長官曾蔭權在2008-09年度的施政報告中稱：「香港是唯一一個與倫敦及紐約等環球金融中心並列的中國城市。」香港一向提倡自由貿易，並非常重視奉行這一信念，她（透過貿易發展局）聲稱乃世界上最自由的經濟，這是當之無愧的。
香港現時是世界上最服務取向的經濟體，在2007年的2070億美元GDP總額中，服務業佔其中的百分之九十以上。香港在貨物貿易上的逆差（進口額僅多於出口額，包括轉口在內），獲得近兩倍的服務貿易順差的補償。法律服務在當中佔一個相當的比重，在下文將會探討。

首先是其他一些值得關注的資料。根據UNCTAD的2008年世界投資報告顯示，香港是亞洲區的外國直接投資的第二大來源和第二大接受者。此外，香港的人均收入在世界上是第二高，而外匯儲備總額是第九高。此外，在最大的貿易經濟體、外匯市場、銀行中心及證券市場等方面的世界排名，香港一直都表現良好。

在作為經濟擴張溫床的地區，對手方需要不斷地維持其競爭優勢。例如，香港的自由貿易港和戰略性位置，使她成為主要的貨物轉運中心，而在過去20年間的相當時間，她亦享有全球最繁忙集裝箱港口的美譽。不過，她現時已落後於新加坡，並在最近落後於上海。然而，在2008年金融海嘯發生之前的數年間，她的經濟增長仍然持續，並維持在每年大約百分之七的增長比率。

香港這個擁擠著七百萬人口的彈丸之地，憑藉其國際視野，確實是發揮了超卓的表現。雖然這帶來巨大的機遇，但亦存在明顯的風險。行政長官在其施報報告中稱﹕「香港作為一個外向型經濟，容易受到外在經濟環境改變所帶來的衝擊。」他續稱﹕「要應付這些問題，我們需要與其他政府以及國際機構合作。」

法律界

香港的法律服務行業是由本地和國際專業人士所組成，由本地和國際的法律專家（不必互相關聯）提供一系列的全面性服務。香港是亞洲區內一個具規模的法律服務中心，香港的律師與中國大陸以及其他很多司法管轄區的同業共同攜手處理跨國交易和在本地進行爭議解決。

結構和統計數字
香港的法律界分為兩個不同的獨立專業，即事務律師和大律師。這兩個專業一起服務，互相補足。一般而言，事務律師在交易和爭議中代表其當事人，但在法院中他們只有有限的出庭發言權。大律師專門處理有關法庭和訟辯的工作。規管事務律師和大律師的專業組織分別為香港律師會和香港大律師公會。

截至本文刊登之日為止，香港共有6193位領有執業證書的事務律師，當中有317位為獨營執業者，1710位為律師行合伙人，2071位為律師行助理律師，863位為顧問律師。在1232位並非私人執業的律師當中，他們大部分是擔任企業或內部法律顧問，另外還有821位實習律師。香港的律師行共僱有14,102名不具備律師資格的僱員，其數目與具備律師資格的比較，比率約為三比一。

香港的執業大律師人數剛好超過1000人，當中有80多位為資深大律師。並非所有大律師均活躍地維持其執業﹔在某程度上這是由於一些工作間或會授與到訪的海外大律師，由他們在特定的本地事務中為其當事人行事。假如將兩個法律專業的律師人數加起來計算，香港律師的人數佔香港人口的0.1%。

技能和資格
在過去，所有香港的律師都是獲英國頒授資格，而能夠輕易地於香港執業的時代，在很久以前已經成為過去。本地執業資格的頒授目前是嚴格了許多，以確保專業質素得以維持和律師具備相關的知識。舊的模式已經不再合用，因為香港的法例和法理雖然仍跟隨英國，但這兩個司法管轄區已經各自以不同步伐，進行適合其本地情況的法律改革。此外，特別是在1997後，香港在草擬新法例和重新解釋舊法例方面，更為重視世界其他普通法司法管轄區的正面影響。

要在香港取得律師資格，需要經過漫長和嚴格的學術及實務過程。正常的途徑，是先修讀為期四年的法律學學士課程（大學畢業生亦可選擇修讀JD課程），然後修讀一年以實務和技能為基礎的PCLL課程，再接著是在一名具執業資格律師的監督下進行為期兩年的實習。外地律師可以其身分註冊，之後可以在律師行執業，但不得就香港法律提供法律意見。他們亦有很多人繼續努力以求獲得本地的執業資格﹕在普通法司法管轄區取得三年具備資格後的經驗的人士，以及在非普通法司法管轄區內取得五年具備資格後的經驗的人士，可參加一系列考試 (OLQE) 藉以取得本地執業資格；其他人士需要先修讀銜接課程，然後修讀PCLL和實習。所有獲認許的事務律師均須接受持續專業教育。

香港的三家法律學院均開辦為將來擬投身於跨境和國際商業實務的學生而設的課程。中國法律是不同年級的學生普遍選修的課程。學院亦開辦國際貿易碩士課程，並且甚受歡迎。學院的教學人員乃自全球各地招聘。作為香港大學教育其中一個國際園地，香港大學最近宣布，與其進行交流學習的目的地國家，在2009年將會增至28個，而最新近加入的包括智利、南非和以色列等國。它亦公布了在2007/08年度，擔當交流生往外國留學的學生，有百分之十的人數上升，大約共有800名，與來自不同國家的750名交換生的數目差不多相約。此外，港大已與超過180個學術機構伙伴共同實行可獲頒授學分的交流和學習安排。

香港律師行在技術多樣性的重要程度方面亦不可忽視，特別是該等與中國大陸的龐大增長市場相關的技術和經驗。香港律師行對具有英語和中文（廣東話和普通話）能力的本地生的需求日益增加。雖然與任何相關海外法律制度的資格都會受到歡迎，但對中國法律的認識，正越來越成為大家共同的要求。Michael Page International 香港辦事處的法律招聘人員Olga Yung稱：「在目前頗為困難的市場情況下，律師行對其所須的資格類別會要求得更為嚴格。現時很多律師行在尋求具有雙重資格，能夠處理香港和跨境交易的律師。」

經濟影響
香港在國際和跨境業務的法律產出方面，法律服務輸出情況有兩方面值得關注，即是：(i)往何處去；及(ii)如何增長。根據官方所作的調查，輸出金額在2006年達到1.21億美元（9.43億港元），較2005年增加了17.3%。大約一半的輸出是輸往亞洲，當中超過一半是輸往中國大陸。參見圖表A。

香港與中國

香港一直以來都是一條前往中國的通路，但這條通路的閘門並非時常開啟。然而，自從中國大陸於1978年進行經濟改革和實行開放政策後，特別是1997年香港回歸中國後，經濟的連繫越來越見加強。對很多香港律師行來說，涉及中國大陸的交易，正越來越成為業務的主要原動力。

特殊關係
香港鄰接中國大陸，並在「一國兩制」原則下以半自治形式運作，因而香港具有兩個制度下的優點。國際遊客喜歡到香港來，因為英語是這裡的其中一種官方語言；內地人也喜歡到香港來，因為這兒的另一官方語言是中文。這些因素有助前往中國做生意或投資的外國人，以及尋求分散其投資和業務於海外的內地企業，促使他們均選擇以香港作為優先考慮的平臺。

基於香港法例相對上較為人熟悉、透明和穩定，因此在與中國大陸相關的跨境交易中，它往往被優先選擇作為規管法律。換句話說，香港擔任了該等交易的法律風險管理人。合併和收購業務（就這一方面而言，中國是亞洲的最大市場）能提供一個很好的例子。根據香港貿易發展局的報告，在亞洲（日本除外）的首十家（於2007年）就併購交易提供法律意見的律師事務所中，其中七家於香港開設了分所。

香港貿易發展局最近為香港律師行進行的一項調查顯示，百分之八十三的回應者曾處理跨境商業交易，而差不多百分之七十曾為內地的當事人行事。此外，差不多百分之八十表示，他們認為未來三至五年的跨境商業交易具有良好和穩定的前景。

由於香港政府熱切希望增加與珠江三角州的經濟連繫，包括與廣東省進一步合作，並最終發展一個「香港-深圳國際都會」，因此並沒有任何跡象顯示這些勢頭會減慢下來。促進服務行業的合作，被特別指定為須優先實行，因此香港的商業和法律專門領域確具有光明的前景。

CEPA及進一步合作
推動這一優先性的機制是CEPA：即是於2004年實施的《內地與香港關於建立更緊密經貿關係的安排》。中國於2001年加入世貿後，帶來了在市場准入條件的某些方面的一般性改進，而CEPA則是更進一步。它為擬進入內地，而其來源地為香港的所有產品提供了免關稅優惠，並對一系列的服務行業實施了開放措施。

該等開放措施有效地適用於法律服務行業，允許香港的法律服務在國內運作，從而讓香港法律服務的需求在國內得以提高。該等措施提供了特別豁免，例如放寬了適用於在內地設立辦事處的外國律師行的一般居住規定；授與特別許可，例如批准香港大律師在內地的民事訴訟中以公民身分作為代理人，並提供更佳的途徑，例如讓香港律師考取內地專業資格。2007年，共有143名香港居民參加全國司法考試，而他們有望獲准在內地的律師事務所處理非訴訟法律業務（或是有關婚姻和繼承案件的訴訟，條件是該等案件須與香港有關連）。

一項非常明顯的轉變，是對代表處的限制和香港與內地律師行之間聯營限制的放寬，這為香港與中國法律的真正一站式服務的實現提供了可能性。至今，共有九家內地律師行在香港設有辦事處，而其中五家與本地律師行建立了聯營。香港律師行的發展較快，它們在內地成立了77個辦事處，並與當地律師行建立了六個聯營。上海、北京及廣州等中國經濟活動的火車頭，是香港律師行設立辦事處的最熱門城市，而若干規模較大的律師行則在所有上述三個城市設有辦事處。

從某一角度而言，CEPA為香港與內地的律師行之間，就誰能更快和更有效進入對方的領地所進行的競賽，扳了起步槍的槍機。然而，每一名參加者的實力明顯地各有不同，而他們之間是指向相互協助而非競爭。內地律師行的實力在於對當地環境的認識及擁有業務和政府聯繫，並擁有潛在的龐大財政和人力資源。香港律師行的實力在於對相關國際法律的更廣泛認識，在國際業務交易方面的更廣泛經驗，以及在有需要時進行的爭議解決。更不用說的，當然是在涉及香港法例的訴訟時香港律師行所具有的本地優勢。香港和內地律師行相互為對方提供的，是在服務跨境客戶方面的更佳能力，以及隨之而來的更大量業務。

英國的MSI Global Alliance的首席執行官James Mendelssohn同意聯繫便是等同於機會這一說法。他以在印度的律師事務所的網絡為例稱：

「與鄰市理念相近的律師行建立堅固關係，雖然是在同一個司法管轄區內，仍可提供真實的利益，遠超過失去業務轉介所涉及的潛在成本。該些律師行首先應問問它們自己，它們是否真的會失去任何向內的轉介。假如一位當事人需要例如是在德里的支援，但該孟買律師行所處的該網絡，其地域包含整個印度，那麼該名當事人是否應使用該孟買律師行所提供的服務呢﹖當然不是。它會尋找一個在網絡以外，並以德里為根據地的律師行。因此，該孟買律師行不單不會因在該網絡中有一家德里律師行而失去業務轉介，並且可能會從海外的成員律師行那兒吸引到來自更大客戶的更佳業務，因為他們會曉得，在印度整體而言，透過全國性的網絡而並非只是在孟買的單一律師行，可令其處事能力得以大為加強。」

為跨境交易提供服務
始終，香港法律界若要在幅原廣闊的中國土地上的某一點突圍，並不一定需要有龐大的資源集中。事實上，規模並不如正確的知識和服務那麼重要。正是在這樣的情況下，突顯了香港律師行的廣泛能力。假如我們認為能提供全面服務的國際律師事務所，才具備充分能力提供跨境法律服務的話，這其實是一個誤解。事實上，很多客戶與香港的本地律師行建立了關係，該些律師行在跨境事務方面具有廣泛的經驗，其高級合伙人並會隨時為其客戶的事宜提供適切的關注。

香港的一個主要物業發展商的內部法律顧問稱：「我們甚少聘用city firms。」在進行國內的跨境合資經營項目時，他的公司是運用多方面的資源，並盡可能靠近本土，而在有需要時才利用專門的資源。在論述一項典型的交易工作流程時，他指出：「在大多數時候我們會使用香港的律師，並聯同中國的律師。以在中國進行收購為例，譬如是收購一個現有的商用物業。首先，我們會聘用香港律師草擬諒解備忘錄，並與賣方訂立初步協議。接著，我們會在中國進行盡職審查，並會委託中國律師進行該項工作。」

以外國為根據地的客戶會傾向委託國際律師行而非本地律師行，但香港始終是作為該項交易的根據地。以新加坡為基地的Unilever的地區總法律顧問Linda Wong說：「假如我們要進行一項收購，而目標是在中國，我們將會聘用一組香港律師。」她續稱：「假如你要收購一家具有多樣類別的公司，而它們在整個地區都擁有業務，這便是香港作為一個中心的好處。事實上你會發現，你的合作伙伴及你的競爭對手亦會使用香港的律師。」

區域化及全球化

自早期的殖民地時期開始，外地律師在香港已經很普遍。在首家本地法律學院於1969年成立以前，他們享有優越的地位。自從當本地律師數目超過外來律師的數目後（在近期是由於英國律師自動享有執業資格的措施被取消、註冊外地律師計劃的實行，並因著在香港的國際律師事務所於香港法律執業方面的限制放寬，在某程度上所產生的抵銷作用），所進行的合作和擴展仍繼續包括所有的成員在內。在今天，香港的本地律師行和國際律師行仍然維持著強大而具規模的國際業務網絡和客戶基礎。根據香港貿易發展局的報告，百分之七十至八十的本地律師行曾在海外市場為客戶提供服務。

國際聯繫
目前香港共有66家外國律師事務所，大約有一半已將其業務本地化，有15家與本地律師行進行聯營。據進一步的綜合資料顯示，在香港的1244名註冊外地律師中，超過一半是受聘於本地律師行，這顯示真正的內外人才交流。

本地的律師行採納眾多模式以吸引海外業務，而更深一層的目的，是要增加其在跨境業務方面的可靠性。特別業務轉介只是一把尺度的起首，隨後的（按某程度上可互換的次序）將會是非正式協議、正式聯營、網絡成員、向外擴展，而最後便是合併。

在考慮鄰近地理(例如香港和中國大陸)時，每一個模式的成本／效益分析相對上可能較為簡單。然而，當律師行希望能符合區域性或全球性的法律服務要求時，情況便會變得較為複雜。MSI Global Alliance的James Mendelssohn稱：「在一個全球性的環境下，所須領略的功課是，我們需要運用決策過程，從經過考慮的策略性審視基礎中選擇合適的業務模式，而非對某一特定需要或問題作出反射式的回應。」

的近律師行（一家在近年進行了相當程度的地區性擴展的香港律師行）的Lindsay Esler同意這一說法。他說：「很久以前，我相信各律師行普遍有一個感覺，是認為律師行的規模必須龐大，並須擁有廣闊的地理分布，否則便會被壓跨。但隨著時間的變遷，我個人漸漸相信，希冀業務範圍能覆蓋整個太平洋周邊範圍的想法是太具野心，在我們的土地上其實也存在很多機會。」

與其試圖進行全面和綜合性的覆蓋，的近律師行寧願選擇建立網絡。最近它成為了Lex Mundi（一個擁有160家獨立律師行，在99個國家裡擁有超過560個辦事處的聯營）的香港成員。這容許該律師行與位於其他地理中心及其他司法管轄區的「理念相近」律師行進行合作和給予支持。

另一方面，很多律師行合理地選擇綜合環球模式。這是符合一些最高層次客戶之需要的唯一途徑。Unilever的Linda Wong稱：「它將會是一個非常龐大的企業項目。我們將會使用已經與我們建立關係的跨國律師行，而他們通常會與我們一起跨越該區域以處理有關交易。」

在過去的十年間，出現了許多本地律師行與計劃在香港設立辦事處的環球律師事務所之間的合併及收購。一個近期的顯著例子，是亞洲律師行JSM與美國的有限責任合伙Mayer Brown LLP及於英格蘭與威爾斯成立的Mayer Brown International LLP的結合。

JSM合伙人Andrew MacGeoch指出其中一項重大利益為專門知識的持續交叉銷售，而並非只是按需要的業務轉介。這方面的三個實際例子，是房地產投資信託 (REIT)、基金成立和公／私合伙經營。他說﹕「在REIT證券化和基金成立方面的專家，傳統上都是在歐洲和美國出現。雖然目前的情況仍然是這樣，但我們正在諸如香港和亞洲等地區建立我們的專長。假如REIT市場是在香港起動，我們將能夠吸收有關經驗，特別是自美國那兒。同樣地，假如香港政府有意鼓勵PPP模式，並比較歐洲、美國和澳洲的方法，將可讓我們這樣的一家全球性律師事務所，於現時大為容易地利用在大多數該等地方的專長。」

當然，在管理這一模式方面存在著固有的挑戰，因此要讓客戶看到的是無縫隙的服務。MacGeoch說：「在任何機構中，溝通是無縫業務的重要部分。我們需要確保在所有辦事處、所有業務範圍、所有行業領域等進行適當的溝通，並確保我們能知悉，我們位於世界其他地方的對手方是誰人以及他們從事甚麼，而這對我們的亞洲辦事處而言，是意味著頗多的深宵會議通話。」

我們難以找到較香港更能提供具多重司法管轄能力的地方。為何香港能夠如此稱職地作為一個國際法律服務中心，這是頗為值得探討的。

穩定及透明度
香港擁有一個穩定而悠久的普通法法律制度。香港人以及居住於本地的人士，其所享有的權利和自由是建基於法治、獨立司法機構，以及自由而活躍的新聞界。基於這些有利條件而對香港具有信心的明證是，共有大約3900個國際企業在香港成立了其地區總部或辦事處。

在國際比較研究中，香港在管治水平方面獲得了良好的評價，於Transparency International的2008 Corruption Perceptions Index中排名第12。在亞洲區，只有新加坡領先於香港，排名第4，而兩者都領先於日本(18)、臺灣(39)、南韓(40)、澳門(43)、馬來西亞(47)、中國(72)、泰國(80)、印度(85)、越南(121)、印尼(126) 及菲律賓(141)。在泰國現時的政局不穩情況下，看來處於名單下半部的都屬於風險較高的地方。

Lindsay Esler稱：「假如你察看其他的可能選擇，你會發現它們有一些是半封閉式的法律制度，例如韓國或日本，而外方對其並不真正熟悉，並因而有所懷疑﹔ 而另一些或是存在可能的區域性不一致，例如中國。香港和新加坡是兩個你可以知道你將會得到甚麼的地方。她們的制度公平和為人所熟悉。無疑，在某些情況下仍存在政治上的影響，但卻並不明顯。在那兒你可以預期你會獲得公平和可預測的聆訊。」

爭議解決
這是一項基本因素。香港裁決制度（包含司法和「替代」）的質素，使她成為區內爭議解決的優先考慮地點。香港的司法機構，是依據普通法下的獨立於行政和立法機關這一基本原則來運作，其結構可比擬其他普通法的司法管轄區。這兒設有原訟法庭、上訴法庭及終審法院，確保訴訟人具有充分機會提出申訴，以及其訟案能在更高的司法層次獲得審視和裁定。香港法官的質素獲國際認許。事實上，終審法院的很多位非常任法官都是其他普通法司法管轄區的現任或前任終審法官。

香港作為一個UNCITRAL示範法司法管轄區，具有充分能力處理國際商業仲裁。香港國際仲裁中心於1985年成立，為所有形式的ADR提供基礎設施和專門技能。2007年，它合共處理了448宗國際仲裁案件，僅次於美國仲裁協會(621) 。

假如在分析中加入本地的仲裁，則中國國際經濟貿易仲裁委員會在2007年共處理了1118宗案件，而國際商會仲裁院(International Chamber of Commerce Court of Arbitration)則處理了599宗案件。然而，對上述兩個機構而言假如這是良好實務，其對香港而言亦同樣是良好實務。ICC在近期設立了其在巴黎總部以外的第一個仲裁院分支，而那正正是位於香港。

ICC仲裁院的秘書長Jason Fry稱：「香港是一個合理的選擇。她是中國仲裁和執行內地裁決的中立地點，而她亦鄰近該些對ICC而言是十分重要的地方，例如印度、韓國及越南等。這讓我們得以為區內的客戶提供更佳的服務。」

位置
我們現在需要談一談她的地理位置，而這是最重要的一點。香港位處中國的東南端，不僅接鄰中國大陸，亦位處急速發展、並乃全球一些最具活力的新興經濟體之所在的東亞區的中心位置。來自該區域的商務人士會發現，香港在住宿、語言支援及會議設施等方面都非常完善。自得獎多次的香港國際機場出發，我們只須數小時便能夠到達區域內的大多數主要城市，而時差問題亦易於處理。參見圖表 B 及附隨的地圖。

展望未來

在目前的經濟氣候下，以審慎的態度來觀察短期和中期情況自然是明智之舉。專業服務顧問Hildebrandt International估計，2009年對於環球法律服務供應者而言，將會是困難的一年，而直至該年年底以前，情況將不會有太大的好轉。

然而，事情亦總會有好的一方面。根據一家律師行所發出的聲明稱：「在這期間，法律業務很可能會有好轉，因為金融機構進行重整，對目前的危機的「指責」透過了申索和反申索程序而被甄選，以及基於我們的資本市場的新監管制度的建立。」它續稱﹕「我們確實開始見到，與經濟不景氣有關的訴訟、破產及僱傭法業務正在有所增加。」

香港無疑會受到世界的經濟狀況所影響，但在某程度上她亦受到與中國的緊密聯繫所保障。大多數分析家目前估計，儘管全球面對經濟下滑，但中國在2009年仍繼續會有7-8%增長。Michael Page的Olga Yung稱：「我認為香港仍會較其他市場，例如英國為佳，因為香港頗為倚賴中國業務，所以雖然受市場影響，但其工作流量依然不錯。我們有很多客戶現時仍在招聘人手，只是較為謹慎，或是要求較為嚴格。」

Hildebrandt亦觀察到一些長期的正面因素。該公司稱﹕「我們相信目前的經濟危機可促使許多律師行重新作出一些基本考慮，例如如何處理業務，以及如何為客戶提供具價值的服務，而最終這未嘗不是一件好事。在法律服務提供方面雖然可能會有一些重整，但法律行業的長遠前景仍是非常良好的。」

多年以來，香港律師已證明其具有能力，無論在甚麼情況下，都能夠滿足其客戶的不同需要。不論未來數年會發生甚麼事情，我們仍深信香港律師正如香港自身一般，她仍會繼續生存、興旺和維持達世界水平的服務。

 


祁秉麟

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