William Liu and Victor Wan jointly lead the capital markets practice at Linklaters. The team undertakes a range of complex and novel DCM transactions, as well as related regulatory issues, catering to issuers such as sovereigns, state-owned enterprises, commercial banks and supranationals. Liu maintains a strong relationship with the PRC Ministry of Finance, while Michael Ng’s expertise spans public offerings of digital bonds green and sustainable bond offerings and debt offerings on behalf of local government financing vehicles. Gloria Cheung is a key contact for digital bonds and Taiki Ki has a particular focus on convertible and exchangeable bonds. Min Fang and Hanwen Yu are also names to note. Sherry Cui left the firm in June 2025 and former practice head Hwang Hwa Sim retired in May 2025.
Legal 500 Editorial commentary
Testimonials
Collated independently by Legal 500 research team.
‘Depth of market and product knowledge, strong know-how, commercial driven, large team, regional coverage, connection with other firms, quick turnaround.’
‘Michael Ng, Terence Lau, Gloria Cheung, Hanwen Yu, Taiki Ki and Min Fang are all great names within the firm. They understand our needs well and are well-versed in explaining our requirements to the clients.’
‘Linklaters is highly regarded in the industry with strong legal knowledge and up-to-date information about latest legal developments.’
‘Taiki Ki has strong commercial acumen and is decisive and straight to the point.'
'Hanwen Yu takes ownership of his deals, has strong legal skills and is approachable and responsive.'
Key clients
- The Ministry of Finance of the PRC
- The Government of the Hong Kong Special Administrative Region of the People's Republic of China
- The Hongkong and Shanghai Banking Corporation Limited
- The People’s Bank of China
- The People’s Government of Hainan Province of the People’s Republic of China
- People’s Government of Shenzhen Municipality of Guangdong Province of the People’s Republic of China
- The People’s Government of Guangdong Province of the People’s Republic of China
- The Airport Authority Hong Kong
- International Finance Corporation
- Standard Chartered Bank
- MTR Corporation Limited
- Bank of Communications Co., Ltd., Hong Kong Branch
- Zhuhai Huafa Group Co., Ltd.
- Cathay Life Insurance Co., Ltd.
- Ping An Insurance (Group) Company of China, Ltd.
- Morgan Stanley Asia Limited
- FWD Group Holdings Limited
- Bank of China Limited, Macau Branch
- Industrial and Commercial Bank of China Limited, Macau Branch
- Bank of China Limited
Work highlights
Advised Airport Authority Hong Kong on its successful issuance of US$7bn equivalent multi-currency notes in three currencies and nine tranches.
Advised Cathay Life Insurance on its US$600m 10-year subordinated corporate bond issuance, and US$320m Tier 2 subordinated dated capital bonds due 2039
Advised the managers on the issuance of US$3.5bn 0.875% convertible bond due 2029 by Ping An Insurance (Group) Company of China, Ltd.
Lawyers
Hall of Fame
The lawyers at the very top of the profession, widely known and respected by peers and clients for their longstanding involvement in market-leading work.
Leading partners
The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.
Michael Ng
Next Generation Partners
Junior partners with significant recognition from clients and peers in the market and key roles on multiple matters.
Gloria Cheung
Practice head
William Liu; Victor Wan
Other key lawyers
Michael Ng; Gloria Cheung; Taiki Ki; Min Fang; Hanwen Yu; Terence Lau