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US law firm Sidley Austin is closing its Shanghai office and consolidating its China operations in Hong Kong and Beijing by September. This move follows a trend of global firms reducing their presence in China. Other firms like Mayer Brown, Weil, and Law firms in general have seen revenue growth and increased demand in 2024 compared to 2023.
Law firms had a robust first quarter of 2024, helped by growth in billing rates, according to two reports released within the past week. https://t.co/bp5Cue3tD8
Law firms are off to a strong start in 2024. Demand for legal services was up 1.9% in the first quarter of the year over the first three months of 2023, according to Thomson Reuters’s report. Much of that rate growth was driven by midsize law firms https://t.co/JvudK5OvoN https://t.co/pyxd1Ik97C
Sidley has relocated some of its lawyers, and Weil’s only Shanghai partner has also moved to Hong Kong. https://t.co/5GhYk7Raou