Department profile
Linklaters

Capital Markets: Debt (International Firms)

Greater China Region Guide 2026 : China


Linklaters

Rankings

Chambers Review

Provided by Chambers

Capital Markets: Debt (International Firms) - China

Band 1

Band 1


What the Team is Known For

Linklaters' Hong Kong-based debt team boasts a very strong reputation for its work on both straight and hybrid bond offerings, as well as notable experience in large green and sustainability bond issuances. The team is also well known for its specialist focus on commercial paper and renminbi bond offerings, and is increasingly prominent in handling complex high-yield note offerings. Additionally, the firm fields a well-respected equity practice which often handles significant IPOs, follow-on offerings and block trades. The unified practice advises clients on English, US and Hong Kong law issues and regularly acts for major Chinese and international banks and Hong Kong-listed companies, as well as a robust stable of SOEs.

Work Highlights

Provided by Chambers

  • Linklaters acted as the Hong Kong and US counsel for the joint sponsors and underwriters on the global offering and listing of H-shares of Contemporary Amperex Technology on the Main Board of the Hong Kong Stock Exchange.

  • Linklaters advised Country Garden Holdings on the holistic restructuring of its offshore liabilities, including 15 series of public notes, various syndicated and other private financing arrangements, project financings and convertible bonds.

  • Linklaters advised the Ministry of Finance of the People’s Republic of China on its issuance of USD2 billion Rule 144A and Reg S sovereign bonds.

Strengths

Provided by Chambers

  • The team exhibits exceptional depth and breadth, bringing together highly experienced lawyers across every aspect of ECM. Linklaters offers robust support for matters of any scale or complexity.

    Capital Markets: Debt (International Firms) respondentGreater China Region
  • Linklaters is the market leader in the DCM field and certainly has bright individuals who know the legal technicalities inside out.

    Capital Markets: Debt (International Firms) respondentGreater China Region
  • Linklaters has extensive experience in capital market transactions and in-depth knowledge of China players in the Hong Kong market. The team is always able to provide flexible and practical solutions.

    Capital Markets: Debt (International Firms) respondentGreater China Region

Notable Practitioners

Provided by Chambers

  • Eminent PractitionersWilliam Liu
    Eminent PractitionersWilliam Liu

    William Liu

    William Liu of Linklaters' Hong Kong office offers clients deep expertise in investment-grade DCM mandates, with additional strengths in high-yield products.
    • He demonstrates excellent leadership and problem-solving skills.

      Capital Markets: Debt (International Firms) respondentGreater China Region
    • William demonstrates that he has very close client relationships by providing a very high level of professionalism and sophistication, as well as a high level of commercial awareness.

      Capital Markets: Debt (International Firms) respondentGreater China Region
    • William is a perfect team leader and trusted adviser.

      Capital Markets: Debt (International Firms) respondentGreater China Region
  • Band 1Michael Ng
    Band 1Michael Ng

    Michael Ng

    Michael Ng regularly acts for Linklaters' Chinese banking and financial institution clients on offshore bond offerings, as well as advising on MTN programmes and assisting with debt restructuring and transactions.
    • Michael is approachable and easy to work with.

      Capital Markets: Debt (International Firms) respondentGreater China Region
    • Michael is very hands-on and technically excellent. His expertise in DCM matters is unmatchable. His advice is always clear and comprehensive and he has strong value-add on transactions.

      Capital Markets: Debt (International Firms) respondentGreater China Region
  • Band 2Terence Lau
    Band 2Terence Lau

    Terence Lau

    Terence Lau is noted for his investment-grade DCM practice, which includes advising on offshore and green bond issuances. He typically advises banks and private equity investors.
    • He is a trusted adviser who provides timely and clear advice on the most complicated issues. He's always willing to help us understand industry trends and I greatly appreciate his unwavering support.

      Capital Markets: Debt (International Firms) respondentGreater China Region
    • Terence is a great help on bond issuances. He always provides swift and professional responses.

      Capital Markets: Debt (International Firms) respondentGreater China Region
    • Terence is knowledgeable and pragmatic, very prompt in his responses and never leaves questions unsolved. He is our go-to partner whenever there are complex transactional matters or novel structures.

      Capital Markets: Debt (International Firms) respondentGreater China Region
  • Band 5Christine Xu
    Band 5Christine Xu

    Christine Xu

    Christine Xu heads Linklaters' ECM team in Hong Kong and enjoys a stellar reputation for advising sponsors and underwriters on global H-share listings. She is also experienced in acting for Chinese issuers on both IPOs and share placements.

    • Christine is well rounded and combines robust technical expertise, strategic insight, deep industry knowledge and strong commercial awareness. She's consistently accessible and highly responsive.

      Capital Markets: Debt (International Firms) respondentGreater China Region
    • She managed the process very well in a heavily regulated sector. She also bridged the different parties in the deal very well and is very commercially-minded.

      Capital Markets: Debt (International Firms) respondentGreater China Region
    • Christine is remarkable. She's very solid in technical skills but also very commercial. She provides very tailored solutions to the client on the most sophisticated deals.

      Capital Markets: Debt (International Firms) respondentGreater China Region
  • Band 5Donnelly Chan
    Band 5Donnelly Chan

    Donnelly Chan

    Donnelly Chan advises issuers, underwriters and sponsors on listings and secondary offerings on the Hong Kong Stock Exchange.

    • Donnelly is able to speak to the exchange to get a particular view and those insights are useful.

      Capital Markets: Debt (International Firms) respondentGreater China Region
    • Donnelly is very hands-on and responsive. He is always capable of coming up with bespoke solutions to navigate through problems.

      Capital Markets: Debt (International Firms) respondentGreater China Region
    • He understands the Hong Kong and China capital markets well and delivers expert advice. He is tremendously client service-focused.

      Capital Markets: Debt (International Firms) respondentGreater China Region
  • Band 5Gloria Cheung
    Band 5Gloria Cheung

    Gloria Cheung

    Gloria Cheung often advises Hong Kong and PRC financial institutions and government entities on a variety of debt capital markets transactions, including government green bond issuances and issuances under MTN programmes.
  • Band 5Hanwen Yu
    Band 5Hanwen Yu

    Hanwen Yu

    Yu Hanwen has a growing reputation and is deemed an up-and-comer in the DCM space. He has experience advising banks and financial institutions on bonds and securities transactions, including green bond issuances and MTN programmes.
    • Mr. Yu is very professional and responsible, always able to respond to clients' requests in a timely and accurate manner and provides flexible and professional solutions.

      Capital Markets: Debt (International Firms) respondentGreater China Region
    • Hanwen is very strong in distilling sophisticated technical issues into business-focused solutions. His insights into market trends are much valued and he's highly responsive and accessible.

      Capital Markets: Debt (International Firms) respondentGreater China Region
    • Hanwen is on top of issues and reliable.

      Capital Markets: Debt (International Firms) respondentGreater China Region
  • Band 5Lipton Li
    Band 5Lipton Li

    Lipton Li

    Lipton Li has a notable ECM practice and is regularly mandated to handle Hong Kong IPOs, as well as GDR listings, including a number of deals on the SIX Swiss Exchange.
    • He is really client-oriented in everything he does. He is always available and very responsive. He is very detail-oriented and has a wide portfolio in terms of expertise and client base.

      Capital Markets: Debt (International Firms) respondentGreater China Region
    • Lipton’s advice is always clear, commercially focused and tailored to our strategy. He is highly responsive and anticipates potential challenges and offers creative solutions that add real value.

      Capital Markets: Debt (International Firms) respondentGreater China Region
  • Band 5Taiki Ki
    Band 5Taiki Ki

    Taiki Ki

    Ki Taiki has an increasingly visible DCM practice, with a particular focus on convertible bonds. His recent matters include advice for solicitation agents on consent solicitations and advising bondholders on the restructuring of convertible bonds.
    • Taiki is always able to help us go through the deal logic and strike a balance.

      Capital Markets: Debt (International Firms) respondentGreater China Region
    • Taiki is very reliable and knowledgeable, on top of legal issues and a quick thinker with business acumen. I strongly recommend her.

      Capital Markets: Debt (International Firms) respondentGreater China Region
  • Up and ComingMin Fang
    Up and ComingMin Fang

    Min Fang

    Fang Min is an increasingly visible investment-grade DCM partner who is regularly active on the issuance of sovereign and local government bonds for issuers, as well as handling ESG and exchangeable bond issuances.

    • Min is diligent, patient, reliable and a trusted advisor. She provides clear, practical solutions, communicates proactively and brings a collaborative, client-focused approach to every transaction.

      Capital Markets: Debt (International Firms) respondentGreater China Region
    • Her deep knowledge of innovative structures and regulatory and operational nuances and market practices ensured smooth execution, even under a tight timeline.

      Capital Markets: Debt (International Firms) respondentGreater China Region
  • Up and ComingShan Jiang
    Up and ComingShan Jiang

    Shan Jiang

    Jiang Shan is a New York-qualified lawyer based in Linklaters' Hong Kong office who is well regarded for advising both banks and underwriters on the issuance of high-yield products.
    • Mr. Jiang’s commercial awareness and knowledge in business, finance and the relevant industry make him a well-rounded lawyer, and this is especially important for high-yield transactions.

      Capital Markets: Debt (International Firms) respondentGreater China Region
    • Shan Jiang has maintained a consistently high level of professionalism and keeps abreast of the latest market information and developments to provide the most updated advice for us.

      Capital Markets: Debt (International Firms) respondentGreater China Region
    • Shan is diligent and patient and can put himself into others' shoes. He gets difficult issues resolved.

      Capital Markets: Debt (International Firms) respondentGreater China Region

Ranked Individuals at Linklaters (12)

China

  • Profile image of William Liu

    William Liu

    Capital Markets: Debt (International Firms)

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  • Profile image of Michael Ng

    Michael Ng

    Capital Markets: Debt (International Firms)

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  • Profile image of Terence Lau

    Terence Lau

    Capital Markets: Debt (International Firms)

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  • Profile image of Gloria Cheung

    Gloria Cheung

    Capital Markets: Debt (International Firms)

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  • Profile image of Christine Xu

    Christine Xu

    Capital Markets: Equity (International Firms)

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  • Profile image of Donnelly Chan

    Donnelly Chan

    Capital Markets: Equity (International Firms)

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  • Profile image of Lipton Li

    Lipton Li

    Capital Markets: Equity (International Firms)

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  • Profile image of William Liu

    William Liu

    Capital Markets: High-Yield Products (International Firms)

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  • Profile image of Shan Jiang

    Shan Jiang

    Capital Markets: High-Yield Products (International Firms)

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