Core Insights - The HuRun Group recently released the "2026 HuRun Smart List: Top 100 Recommended Law Firms in Greater China," shifting the evaluation perspective from the legal industry to the needs of enterprises [1] - The evaluation covers 45,000 law firms and 830,000 lawyers, providing a comprehensive overview of the legal service market, which is valued in the trillions [1] - The new evaluation system incorporates VEM and VPM models, focusing on professional service capability, service assurance, and client satisfaction, reflecting the evolving demands of enterprises during the 14th Five-Year Plan [1] Industry Overview - As of September 2025, there are 45,000 law firms and 830,000 practicing lawyers in China, indicating a vast professional service market [1] - The top 100 law firms average 1,424 lawyers and operate across an average of 12 core cities, serving companies with a cumulative market value of nearly 60 trillion RMB [1] Regional Distribution - The top law firms are predominantly headquartered in Beijing (50 firms) and Shanghai (19 firms), aligning with China's financial and political centers [2] - Shenzhen (5 firms) and Hangzhou (4 firms) follow, corresponding to the hubs of technological innovation and digital economy [2] Market Dynamics - The top ten law firms provide ongoing legal advisory services to 186 companies listed in the CSI 300 index, which collectively have a market value of approximately 40 trillion RMB, accounting for 63.64% of the total market value of the index [2] - King & Wood Mallesons serves 40 related companies with a corresponding market value of 17 trillion RMB, while Guohao Law Firm serves 25 companies with a market value of 3.5 trillion RMB [2] Future Trends - The chairman of HuRun Group believes that as Chinese enterprises expand globally, domestic law firms are poised to join the ranks of top global firms [2] - The founder of Zhihui emphasizes that Chinese law firms face dual opportunities to deepen local engagement while enhancing cross-border service capabilities to meet the needs of globalizing enterprises [2]