Taylor Wessing and Reynolds Porter Chamberlain (RPC) have confirmed plans to open new bases in Asia, as UK law firm interest in the region shows no sign of abating.

Taylor Wessing is aiming to launch in Hong Kong within the next one to two years, subject to finding a strong local partner to merge with. 

The firm, which already has a presence in Singapore, Beijing and Shanghai, is currently in talks with several domestic practices. Managing partner Tim Eyles said Hong Kong was a top priority, but finding the right partner was proving challenging.

"It is one of the key financial centres, but it is a difficult market to crack; it's very complex. We have had conversations with a few firms, but we are still looking for the right partner. 

"We are looking for someone who has a similar strategy to ours, who is familiar with international firms, whose financial performance is close to ours and who has similar core practice areas." 

The firm's principal focus in Hong Kong will be on corporate, financial and intellectual property (IP), as well as private wealth management, technology and capital markets areas.

Meanwhile, RPC is aiming to launch in Shanghai in the next 18 months in a bid to tap China's inbound investment market.

The firm, which launched its first international offices in Hong Kong and Singapore during the past 12 months, is planning to recruit two partners and up to six lawyers to staff the new China branch.

Jonathan Watmough, RPC's managing partner, said: "We are starting the hiring process and then we will apply for a licence. We will look at lateral hires, particularly Mandarin speakers, with our focus being on corporate, commercial litigation, IP and insurance. We have a lot of clients in Shanghai, and it is a hub for inbound investment. It seems inevitable that we have an office there."