THE RULE OF LAW has been the subject of much media discussion in Hong Kong. The number of law graduates and those studying the subject has also been growing.
There is increasing recognition that the rule of law is at the heart of any modern society and that, although based on precedents, it must evolve to keep in step with shifts in public opinion, changes in technology and developments in the world of business.
Hong Kong's legal community is already adapting to the city's integration with the mainland as it finds new growth opportunities. Solicitors with mainland experience are especially in demand.
Traditionally, Hong Kong has had a large number of small family-owned businesses and this is reflected among the law firms as well. According to the Annual Report of the Law Society of Hong Kong, 512 of the 672 local solicitor firms have five or fewer partners.
Much of the income of the law firms used to come from conveyancing and advice on property transactions, but with the property slump these firms have had to look elsewhere for regular work. The dotcom boom exacerbated their problems for a while because most students opted for careers in other fields.
Now, however, positions with law firms are once again highly sought after. The Chinese University has joined the University of Hong Kong and City University in offering legal training, and the sheer variety of career opportunities means prospects are bright for anyone taking this route.