Howard Wu, Baker McKenzie's chief representative in Shanghai, said in welcoming the guests: "Today marks an important occasion as our distinguished guests and clients join us in celebrating the achievements our Joint Operation platform has enjoyed in the last five years. Its success reflects in part the continuous support of our clients and dedication of our staff to achieve service excellence. More importantly, it signifies the viability of the joint operation model, as at least half a dozen other international law firms have adopted the model, following our lead."

Howard added: "The launch of the joint operation model marked a major milestone in China's legal service sector liberalization journey, and we are truly honored to have been selected as the first firms to take part in this development. As an international firm that has been operating in China for over 40 years, we have remained a business partner to our clients through the various economic cycles. We recognize businesses have been confronting unprecedented challenges over the last year, brought about by the COVID-19 pandemic, geopolitical tension and rising regulatory scrutiny. Despite this, we see many businesses looking for opportunities. With China already well on its way in rebounding from the pandemic, we anticipate that investment activities to and from China will quicken pace. Our priority is to help our clients navigate through the uncertainties to seize new opportunities."

Yingzhe Wang, managing partner of FenXun Partners, said: "Since the estabishment of our Joint Operation platform, we have made great strides in enhancing our operation, business reach and market reputation. FenXun has offices in Beijing, Shanghai, Shenzhen and Hainan. With the support of Baker McKenzie's global network of 77 offices in 46 countries, we are well placed to provide our Chinese and international clients with outstanding on-the-ground support, across the full spectrum of legal issues, as well as to Chinese companies when they invest abroad. This is a testament to the benefits of opening up the legal services sector, which has enabled Chinese law firms to grow stronger and offer top quality services."

Milton Cheng, Baker McKenzie's Global Chair, said: "China has worked very hard in the past year to fight and contain the COVID-19 virus. Many sacrifices have been made and we stand together with the Chinese government in working together to ensure stability and that we provide the best support for our colleagues and clients to enter 2021 with renewed optimism."

Milton continued: "There is a broad consensus that 2021 will be a transition year, as the impact of vaccines begin to be felt and businesses are able to plan with greater certainty. Our top priority is continuing to enhance the value we deliver to clients to help them rethink their operations and prepare their businesses to thrive in the new normal."