McLaughlin & Stern Signs Memorandum of Understanding with China Huarong Asset Management Corporation

On December 5, 2012 in Beijing, China, Qian Hu, the Partner and Chair of China Practice for McLaughlin & Stern LLP on the behalf of the firm, signed a Memorandum of Understanding with China Huarong Asset Management Corporation ("Huarong AMC"), one of four state-owned asset management corporations in China. Huarong AMC had a profit of 5 billion yuan (approximately $900 million US dollars) in 2011 and expects to produce a profit of 10 billion yuan (approximately $1.5 billion US dollars) in 2012. Huarong AMC's total asset was approximately 246.3 billion yuan (approximately $40 billion US dollars) by June 2012.

By signing this Memorandum, Huarong AMC intends to develop a close and harmonious relationship that may lead to McLaughlin & Stern providing legal services to Huarong AMC as it develops businesses in the United States and Hong Kong area.

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