35 days! Yinghe Speed has given birth to the South China Sea Center, and Yinghe National Regional Center Strategy has accelerated its implementation
Date: 2021-03-19 Viewed:154

Within 4 months, the use of foreign capital increased by 252.3% on year-on-year basis, and the introduction of talents within 3 months increased by 891.5% on year-on-year basis. This is the speed of Hainan Free Trade Port.

From market research in Hainan and location selection of Hainan Building to Beijing Yinghe (Haikou) Law Firm being approved for establishment, it just spent 35 days! This is Yinghe speed.

Haikou law firm was approved, which means that the layout of Yinghe Nanhai Center has been smoothly established, and the implementation of Yinghe National Regional Center Strategy has been accelerated.

Careful planning

Yinghe speed is based on careful planning.

This year, Yinghe put forward the idea of “supporting the further expansion and strengthening of law firms in provincial capital cities”, positioning provincial capital cities as regional centers and headquarters bases. Based on the “operations, brand, training, information, resources, and business” of Yinghe headquarters, they are going to build a flagship demonstration office within the province of Yinghe, which can radiate the whole province, promote the layout, deeply integrate the resources of various law firms and platforms in the region, and promote the coordinated development of Yinghe platform members.

Under the guidance of such development ideas, Shandong Center and Jiangsu Center have been established. In Hainan, it is a blank market for Yinghe. The layout of Haikou is of great significance to the promotion of the integration strategy of Yinghe Nanhai Center.

At the beginning of August, the founding partners of Yinghe Law Firm conducted a comprehensive survey of Hainan's legal service market and concluded that with the combination of low tax and a series of policies  that are beneficial to corporate development, such as "6+1+4", Hainan Free Trade Port's business is expected to usher in a blowout development.

After careful planning, Yinghe firstly signed a strategic cooperation agreement with the Haikou International Investment Promotion Bureau, seeking common development and long-term cooperation, and taking advantage of its own legal institutions and systems to actively provide professional and effective legal services to help Construction of Hainan Free Trade Port.

Later, Yinghe chose the Hainan Building as their site. Hainan Building is the first top business entity in Haikou and the only high-end business platform in the region for politicians from all walks of life and global famous enterprises. This choice lays the foundation for opening up business and link the development of surrounding markets.

Next, they determine the chief of the Haikou law firm and perform the application procedures for the establishment of the law firm... On September 11, the Hainan Provincial Department of Justice issued the “law firm branch practice license”, and Beijing Yinghe (Haikou) Law Firm officially established.

Strategic arrangement

What functions will Haikou Law Firm have? As early as the start of the Yinghe Nanhai Center project, Sun Zaichen, the founding partner and head of the headquarters of Yinghe Law Firm, had a strategic arrangement.

“We want to make Haikou Law Firm as a strong support for the headquarters, and a model office which integrates legal affairs, finance, and business, undertakes conferences, vacations, and leisure functions, and radiates the Southeast Asian market."

According to the strategic arrangement, Haikou Law Firm will refer to the management models of Beijing Yinghe Law Firm and Shanghai Yingdong Law Firm to conduct joint-stock governance.And the rights, responsibilities, interests and insurances are matched to create a moderately large-scale and comprehensively developed Law Firm.

Correspondingly, in the investment model, the partner team’s equity accounted for as high as 40%. This is open to Yinghe founding partners, Yinghe Ecology, the headquarter, Beijing Law Firm’s original investment partners , regional law firm directors, investment partners, non-local directors who have resources and business, lawyers and external investors.

In terms of the management model, the Investment Partners Committee is the highest management body, with a management committee and a board of supervisors under it. This ensures the scientific management system of Haikou Law Firm, and efficiently connects with the six centers of the headquarters to provide organization and System guarantees for the integrated development of the Hainan Center.

Landing implementation

It is worth noting that, in combination with the country’s long-term development strategy, the unique advantages of Hainan Island, Yinghe's solid platform ecology, and the future digital development trend, Yinghe headquarters directly invested in the Nanhai Center with the two-wing model.

In order to ensure the implementation of Yinghe Nanhai strategy, Yinghe Nanhai Strategic Decision Committee has been established. The scope of theie work includes overall planning and decision-making, investment decision-making, development direction development, selection of professional managers, etc. Sun Zaichen serves as the chairman of the decision-making committee, and Dong Dongdong serves as the secretary-general of the decision-making committee, coordinating and arranging all matters of the South China Sea Center.

It is reported that Yinghe has assigned three lawyers to the Haikou law firm. They will bring the conception of "domestic and international integration, offline and online integration, legal and business integration", and base on the digital law firm built by the KindleLaw digital legal service system, to deeply root in the fertile land of investment in Hainan.

Softbank Sun Zhengyi once said: "The more hesitant, the more we must pay attention to the future. When we see the future, the current errors become insignificant."

Under the influence of factors as the COVID-19, the international situation, and the appearance of law firms’ defects in the digital economy era, law firms as one of the traditional industries have encountered unprecedented challenges. However, the more difficult the environment, the more likely it is to emerge new force.

It is a brand-new attempt and an insightful move for Yinghe to promote the construction of a national regional center. That will bring new hope to the uncertain future.

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