Tian Yuan and Beijing Ruidu have acted as PRC counsel on the successful follow-on public offering of China’s Wonder Auto Technology, a leading manufacturer of automotive electric parts, suspension products and engine components, on the NASDAQ. Completion of the offering demonstrated once again the success of Chinese companies in foreign markets.

Despite the lingering financial crisis, capital markets lawyers are continuing to enjoy an increase in activity. “In terms of completing IPOs in the US, we’ve actually had a very good year,” said David Roberts, a partner at O’Melveny & Myers in Beijing. “All things considered, it is pretty remarkable. There have been approximately nine US IPOs by Chinese companies this year.”

Roberts did not, however, consider it a “full recovery” of the overall US IPO market for China-based companies. “I am hopeful for what 2010 will bring,” he said.

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