Editor’s Note: This chart ranks the 45 largest firms in China by gross revenue, revenue per lawyer and profits per equity partner for the calendar year 2022.

More than 85% of China’s top 45 firms recorded significant drops in proceeds, and some saw their gross revenue fall as much as 35% by the end of last year. The picture wasn’t better for profits, as most firms grew their head counts substantially, which contributed to a notable drop in net profit. Extended lockdowns because of the COVID pandemic, combined with Beijing’s push for domestic economic growth, its tightened regulation of data and national security, and continued U.S.-China tensions, made it a tough year for Chinese law firms. In some cases where the firm did not provide data, figures were estimated.

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