Amid the increasing US-China trade tensions, another law firm signified its intention to exit Mainland China middle of this year.
“In July 2025, Cleary Gottlieb will merge our Beijing operations with Hong Kong, closing the Beijing office and consolidating our Greater China presence into Hong Kong,” the firm said in a statement.
Founded in 1946 in New York and Washington, D. C., Cleary Gottlieb is among the first US firms to expand in Europe after World War II. It now operates in 16 major financial centers around the world, with the firm expanding to Beijing in 2006. However, its Asia footprint dates back to 1980 when it established its Hong Kong office, followed by the addition of an office in Seoul in 2012.
The firm prides itself for operating “as a single, integrated global partnership and not a US firm with a network of overseas locations”.
Industry data shows that Cleary Gottlieb is the 17th US firm to close its office in Mainland China since last year.
The escalation of economic friction between China and the US, coupled with perceived data security threats, are among the probable reasons behind the exit of US firms from Mainland China, according to China experts.
Notwithstanding its impending closure of its Beijing office, Cleary Gottlieb assured, “We continue our commitment to serving clients in the region and believe this decision will allow us to do so more efficiently.”
Cleary Gottlieb Steen & Hamilton LLP
