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In August 2001, I eagerly began my studies from within my workstation at DC Securities. First, I reviewed the securities law knowledge outlined by my mentors, familiarizing myself with the latest securities regulations and laws. I also mastered the procedural workflows involved in corporate restructuring and preparing applications for an IPO, memorizing key templates and intricate details along the way.

 

The overseas assignment soon began, as I accompanied my mentor to a local company for due diligence and analytical review meetings. My primary role was to ensure the completion of the due diligence checklist—nothing more I could do beyond that, perhaps even just jotting down meeting notes if needed. Each business trip typically lasted over ten days or even half a month. Before a company could go public, it first had to undergo restructuring, reorganizing its corporate structure, resolving various disputes, and clearly delineating between high-quality and non-performing assets. Additionally, we worked to legalize previously non-compliant procedures—or even those entirely lacking formal documentation—and collaborated closely with accountants to adjust the financial records so they met the stringent requirements for listing approval.

 

Having gone on several business trips, I often found myself left behind at the company—working tirelessly as a data clerk, organizing materials endlessly, yet secretly acting like a mischievous kid, always coming up with ideas to "paint gray and black shades pure white." When it comes to this kind of packaging, it can seem complicated—but actually, it’s pretty straightforward. Just follow the established processes and methods, and you’ll be fine. Want to add your own creativity, want to stick to the principle of black and white—forget it, it just won’t work.

 

Soon, I was lost again. Once, I was feeling utterly bored at a company guesthouse in Jingzhou, Hubei, so late at night I took a small ferry across to the opposite bank. I wandered through an unknown, pitch-dark little town until dawn, then hopped back on the ferry to return to the company. What am I looking for?

 

Slightly excitingly, I occasionally got to work on a few small cases with the lawyers handling litigation within the larger team, gaining firsthand insight into both the challenges and the rewards of being a lawyer. These litigation attorneys were all a few years younger than me but packed with experience—so much so that I often invited them to the hallway for a smoke break, where they generously shared their wisdom on everything from establishing proper procedures right from the moment we receive a client’s mandate, to meticulously drafting case intake notes, and even offered invaluable advice on how to navigate interactions with judicial authorities—and, crucially, how to safeguard myself throughout the process. Granted, there weren’t many small cases in total, so my hands-on experience remained fairly limited. Still, taking my first steps into the world of litigation has already sparked a sense of anticipation and curiosity about what lies ahead.

 

A few months later, the Yinguangxia financial fraud scandal erupted, severely impacting our IPO business—and suddenly, our workload began to decline. It was at this critical juncture that I once again found myself reflecting on my career path: Should I stick with non-litigation work, or make a bold move and pivot into litigation altogether?

 

When At the time Beijing's legal profession isn't large—there are only 6,000 lawyers—but the legal services market is similarly modest. Lawyers tend to specialize in relatively straightforward practice areas with distinct characteristics. Meanwhile, the market economy is just beginning to take off, and reforms are underway... Non-litigation practices in areas like M&A and securities finance are booming, offering lawyers lucrative earnings and positioning them as high-end, premium services. It turns out that lawyers who used to specialize in criminal defense or civil litigation have mostly switched over to non-litigation practice. On the other hand, civil litigation primarily relies on contingency fee arrangements—where the risk is high, yet the fees aren’t necessarily lucrative—and lawyers still remain in this field despite having to actively seek out cases everywhere. Criminal litigation, meanwhile, rarely attracts much attention—indeed, many lawyers even "turn pale at the mention of it." The reason is that, at the time, there wasn’t yet the series of criminal policies later introduced to safeguard lawyers’ rights. As a result, representing clients in criminal cases carried enormous risks, and lawyers were often subjected to professional retaliation by investigative authorities. Handling criminal cases is also highly challenging. During the investigation phase, lawyers aren’t yet considered defenders, making it necessary to make multiple visits before finally being able to meet with the suspect—since such meetings require approval from the investigating authorities and must be conducted in the presence of two lawyers at once. Sometimes, investigators even need to supervise the meeting directly. As a result, the overall cost of representation tends to be relatively high, yet lawyers are paid shockingly low fees—often just a few thousand yuan, which is considered quite generous.

 

 

After much deliberation, I still believe that non-litigation work isn’t the right fit for me. My expertise lies in criminal law—not civil or commercial law, let alone securities and finance-related areas. As a result, I don’t have a natural foothold in this specialized field. To succeed here, I’d likely need to put in ten or even twenty times more effort than others. Moreover, when it comes to thinking critically about these types of non-litigation cases, what’s required is a strong business acumen—constantly weighing costs against potential benefits. Unfortunately, my naturally laid-back and straightforward personality simply doesn’t lend itself to that kind of analytical mindset. On top of that, I’ve never really thrived in an office-based, desk-bound work environment. Internally, I often feel more like a typical corporate employee than a lawyer—and externally, I struggle with maintaining an equal footing in professional interactions. Too often, I find myself bowing down to clients’ ever-changing demands, which ends up being both mentally exhausting and frustrating. This isn’t at all what I envisioned my legal career to be. Instead, I long for the high-stakes, adrenaline-fueled world of courtroom battles—where I could truly leverage my unique strengths, engaging in the kind of sharp, dynamic professional confrontations that have always captivated me. It’s a vision of lawyering that feels far more aligned with who I am deep down.

 

Six months later, I decided to leave my non-litigation role behind. Drawing on my experience handling a few small cases, I chose to shift into litigation and become an independent lawyer. The real turning point came after being out of that position for over six months—continuing to work as an employee no longer aligned with my personal aspirations. Now, I’m ready to go it alone, embracing the challenge of learning while fighting—and fighting while constantly learning. Above all, I want to take full control of my own career.

 

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