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King & Wood

Capital Markets: Debt (International Firms)

Greater China Region Guide 2026 : China

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King & Wood

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About

Provided by King & Wood

As a leader in China's securities and capital markets, we provide cutting-edge legal advice

King & Wood Mallesons (KWM) was one of the first law firms approved to provide legal advice on securities transactions in China. We have a team of experienced lawyers who practise in frontier markets, providing clients with access to the source of “new world” capital through our global network. With unrivalled depth in Asia and as the only international law firm capable of practicing PRC law, we help our regional clients access global capital, and our global clients access Asian capital.


We are uniquely positioned with strength in China, the fastest-growing capital market in the world. We advise multinational companies, financial institutions and Chinese issuers on their A-share, H-share, red chip, ADR and GDR offerings. We also represent Chinese issuers and underwriters in their IPOs on the Shanghai, Shenzhen, Singapore, New York, NASDAQ, and Frankfurt stock exchanges. These projects span almost all sectors, including the largest and most complex transactions in each sector.

Chambers Review

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Capital Markets: Debt (International Firms) - China

Band 2

What the Team is Known For

King & Wood enjoys a solid reputation for its work representing a range of clients in straight debt and convertible offerings, as well as tender offers and consent solicitations. The firm is able to advise on panda bonds, as well as euro and Singapore dollar-denominated offerings, and also enjoys a growing reputation for representing Chinese issuers in high-yield work. Additionally, the team remains active on notable Hong Kong IPOs and is able to provide US, UK, PRC and Hong Kong law advice. It has a particularly strong reputation in PRC-related matters due to its network of offices there.

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Work Highlights

Provided by Chambers

  • King & Wood advised CCB International Capital and ICBC International Capital as the joint sponsors, and CCB International Capital and ICBC International Securities as overall coordinator and joint bookrunners, as well as 8 other underwriters, on the listing of Yibin City Commercial Bank on the Main Board of The Stock Exchange of Hong Kong.

  • King & Wood acted as Hong Kong and English counsel to Huafa 2024 I in its offering of CNY1.4 billion 4.50% guaranteed digitally native bonds due 2027, unconditionally and irrevocably guaranteed by Zhuhai Huafa Group.

  • King & Wood advised the ad hoc group of noteholders of 11.0% senior notes due 2023 issued by Helenbergh China Holdings on its USD657 million debt restructuring.

Strengths

Provided by Chambers

  • Other than in-depth knowledge of the matters concerned, the firm's experience with Chinese enterprises and exposure in the PRC means it is able to add an extra step in assisting the company.

    Capital Markets: Debt (International Firms) respondentGreater China Region

  • They are quite unique in that they can cover international deals like any other international firm, but because they have a PRC background, they are also very good for deals from China.

    Capital Markets: Debt (International Firms) respondentGreater China Region

  • The team understands our needs and company culture. They provide professional and insightful advice, which contributes to the success of the matter.

    Capital Markets: Debt (International Firms) respondentGreater China Region

Notable Practitioners

Provided by Chambers

  • Hao Zhou
    Hao Zhou

    Hao Zhou

    Zhou Hao is co-chief executive of King & Wood's Hong Kong office and is recognised as having dual expertise in both investment-grade and high-yield debt offerings.

    • Zhou Hao is a very sophisticated and experienced partner.

      Capital Markets: Debt (International Firms) respondentGreater China Region
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  • Michael Lu
    Michael Lu

    Michael Lu

    Michael Lu is a driving force in King & Wood's Hong Kong DCM practice and leads matters ranging from the establishment of MTN programmes to tender offers and the issuance of exchangeable bonds.

    • He has done all kinds of deals, from mega-deals all the way to smaller deals. He goes to the client’s office to meet them face-to-face and offers a human touch.

      Capital Markets: Debt (International Firms) respondentGreater China Region

    • He has good technical knowledge in the DCM space. His focus on the latest industry developments is very valuable. He explains complex issues in a simple way.

      Capital Markets: Debt (International Firms) respondentGreater China Region

    • He is not only a technically outstanding lawyer with deep expertise in debt capital markets and PRC regulatory matters, but also a natural leader. He brings a strategic mindset to every transaction.

      Capital Markets: Debt (International Firms) respondentGreater China Region
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  • Song Yue
    Song Yue

    Song Yue

    Yue Song wins recognition among peers and clients alike for his expertise in an array of debt capital markets transactions. He regularly advises issuers and underwriters.

    • He offers very professional advice, which is very helpful.

      Capital Markets: Debt (International Firms) respondentGreater China Region

    • He's knowledgeable and very reliable, with business acumen.

      Capital Markets: Debt (International Firms) respondentGreater China Region
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Ranked Individuals at King & Wood (4)

China

  • Profile image of Michael Lu

    Michael Lu

    Capital Markets: Debt (International Firms)

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  • Profile image of Hao Zhou

    Hao Zhou

    Capital Markets: High-Yield Products (International Firms)

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Members

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