Former Hong Kong justice chief Teresa Cheng believes that despite recent challenges in the legal sector, Hong Kong remains a strategic base for international businesses, especially with its strong connection to mainland China. She highlighted the city’s international perspective and judicial independence as key factors for lucrative business deals.
While some foreign law firms have reduced their presence in Hong Kong, Cheng emphasized the city’s enduring appeal to potential international clients. She also dismissed the idea of a rivalry with Singapore in the arbitration sector, citing Hong Kong’s unique advantages and connections.
With the Hong Kong International Arbitration Centre handling a substantial number of cases, Cheng sees the city as a vital hub for international arbitration organizations. She believes Hong Kong’s “one country, two systems” framework allows for innovative legal arrangements, making it attractive for businesses and Belt and Road Initiative countries.
Cheng remains confident in Hong Kong’s legal system and its ability to serve diverse clients, emphasizing the city’s readiness to adapt to changing global dynamics while maintaining its competitiveness in the legal sector.
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