On the eve of the Oct. 1 national holiday marking the 60th birthday of the People’s Republic of China, associates at one of the nation’s largest law firms got some welcome news. Jun He Law Offices announced that it was rolling back cost-saving measures introduced in April. Back then, the Beijing-based firm had mandated a four-day work week and made a larger portion of associate pay contingent on hitting billable targets.
Jun He partner Kirk Tong says that China’s improving economy, which is barreling out of recession ahead of the West, has obviated the need for such austerity. “[Initial public offering] work has been picking up,” says Tong. “[Mergers and acquisitions] is getting busier.”
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