Shanghai + 86.21.2201.8106

For more than 17 years, Liming Yuan's legal practice has focused on representing multinational companies in acquisitions and investments in China and China-based clients in acquisitions and investments overseas. He has in-depth experience advising clients in complex and sensitive transactions that have become difficult to resolve, with a particular emphasis on complex issues related to deal structure, regulatory approvals, joint venture, tax, employment, and compliance. A majority of the clients Liming represents are in the manufacturing and health care industries.

Liming's representative transactions include: acquisitions of majority or minority equity interests in Chinese state-owned or private companies, sales of all of the China businesses of several Fortune 500 companies, Chinese companies' overseas asset and share acquisitions in the United States and Europe, establishment of more than 30 joint ventures in China between Chinese and foreign shareholders, and U.S. health care institutions' cooperation projects and agreements to provide telemedicine or other health care-related advisory services in China. Companies for which Liming has worked on substantial matters include: Cardinal Health, Parker Hannifin, Delphi, Hyster-Yale, Sherwin-Williams, Staples, General Pacific, Cleveland Clinics, Dignity Health, City of Hope, Sinochem International, Fosun, Wuhan Iron & Steel Company, and China Union Pay.

Liming is fluent in English and a native speaker of Mandarin Chinese. Before moving to the Firm's Shanghai Office in 2006, Liming worked at the Firm's Dallas Office for three years.


  • Power management company manufactures and distributes PPE during COVID-19 pandemicJones Day advised a power management company on regulatory and other issues related to manufacturing face masks for distribution to facilities and personnel in multiple jurisdictions including U.S., China, Taiwan, Japan, Australia/New Zealand, European Union, and Latin America.
  • Ferro Corporation to sell its global Tile Coatings Business to Lone Star FundsJones Day is advising Ferro Corporation, a leading global supplier of technology-based functional coatings and color solutions, in the sale of its global Tile Coatings Business to Pigments Spain, S.L., a portfolio company of Lone Star Funds, for $460 million in cash, with potential earnout payments of up to $32 million in cash based on the performance of the business pre-closing, subject to customary adjustments.
  • HOERBIGER Group acquires Deublin CompanyJones Day advised HOERBIGER Group, a privately-held industrial company headquartered in Switzerland, on the acquisition of Deublin Company, the leading manufacturer of rotating unions in the world.
  • Timken acquires BEKA Lubrication for $165 millionJones Day advised The Timken Company in its $165 million acquisition of BEKA Lubrication (BEKA), a leading global supplier of automatic lubrication systems.
  • Incyte grants license to and collaborates with Zai Lab to develop and commercialize anti-PD1 pharmaceutical products in ChinaJones Day represented Incyte Corporation in its sublicense out to Zai Lab Limited of certain intellectual property rights to an anti-PD1 molecule licensed to Incyte from MacroGenics, Inc. globally in 2017 and which Incyte is actively developing in the U.S. and other jurisdictions outside of China.
  • Cabot sells its Specialty Fluids business to Sinomine (Hong Kong) Rare Metals Resources Co. Limited for $135 millionJones Day advised Cabot Corporation in the sale of its Specialty Fluids Business to Sinomine (Hong Kong) Rare Metals Resources Co. Limited, a wholly owned subsidiary of Sinomine Resource Group Co., Ltd., for $135 million.
  • Fosun acquires FFT GroupJones Day advised Fosun International Limited with the acquisition of FFT GmbH & Co. KGaA ("FFT") from ATON GmbH.
  • Cortec Group sells WU Holdco to The Carlyle Group and TA AssociatesJones Day advised the Cortec Group in the sale of WU Holdco, Inc., the holding company for Weiman Products, LLC and Urnex Brands, LLC, which are leading developers, manufacturers, and distributors of specialty cleaning products for the consumer and commercial markets, to The Carlyle Group and TA Associates.
  • PolyOne acquires Fiber-Line for $120 millionJones Day advised PolyOne Corporation, a premier global provider of specialized polymer materials, services, and solutions, in its $120 million acquisition of Fiber-Line, a global leader in customized engineered fibers and composite materials.
  • Newell Brands sells Pure Fishing to Sycamore Partners for $1.3 billionJones Day advised Newell Brands Inc. in the sale of its Pure Fishing business to Sycamore Partners for approximately $1.3 billion in cash.
  • Incyte enters strategic collaboration agreement with Innovent for three clinical pharmaceuticals in ChinaJones Day represented Incyte Pharmaceuticals in its strategic collaboration and license agreement with Innovent Biologics for the regulatory development and commercialization in China of three clinical stage pharmaceutical candidates, a FGFR1/2/3 inhibitor, a JAK1 inhibitor, and a PI3K delta inhibitor, for treatment of hematological and oncological diseases.
  • Cabot acquires NSCC Carbon (Jiangsu) Co., Ltd. carbon black plant in ChinaJones Day advised Cabot Corporation in its acquisition of NSCC Carbon (Jiangsu) Co., Ltd. from Nippon Steel Carbon Co., Ltd., a subsidiary of Nippon Steel Chemical & Material Co., Ltd.
  • Hyster-Yale acquires 75% of Zhejiang Maximal Forklift TruckJones Day advised Hyster-Yale Materials Handling, Inc. in its $90 million acquisition of 75% of the outstanding shares of, and a controlling interest in, Zhejiang Maximal Forklift Company Limited from KNSN Pipe and Pile Company Limited.
  • Cardinal Health sells its Cardinal Health China distribution business to Shanghai Pharmaceuticals for $1.2 billionJones Day advised Cardinal Health in the $1.2 billion sale of its Cardinal Health China distribution business to Shanghai Pharmaceuticals Holding Co., Ltd.
  • Halcyon Capital, BOCI Asia, Hong Kong Asset Management, and Halcyon Securities complete IPO on Main Board of Hong Kong Stock Exchange of Precision Tsugami (China) Corporation LimitedJones Day advised Halcyon Capital Limited, as sole sponsor, and BOCI Asia, Hong Kong Asset Management, and Halcyon Securities, as underwriters, in connection with the initial public offering and listing on the Main Board of the Hong Kong Stock Exchange (HKSE) of Precision Tsugami (China) Corporation Limited, an established CNC high precision machine tool manufacturer in China.
  • Hilti acquires Oglaend System GroupJones Day advised Hilti AG in its acquisition of Norwegian Oglaend System Group, a leading manufacturer of multidiscipline support solutions, cable ladders, cable trays and accessories for the oil and gas, infrastructure, shipbuilding, wind energy, water treatment, and clean room industries.
  • Lam Research attempts merger with KLA-TencorJones Day represented Lam Research Corporation in its proposed acquisition of all outstanding shares of KLA-Tencor Corporation in a cash and stock transaction that placed an equity value on KLA-Tencor of approximately $10.6 billion based on its closing stock price on October 20, 2015.
  • OM Group acquired by Apollo Affiliated Funds for $1.03 billionJones Day advised OM Group, Inc. in its acquisition by funds managed by affiliates of Apollo Global Management, LLC, for $34.00 per share in cash, or approximately $1.03 billion.
  • Ferro acquires Nubiola for €149 million (US$165 million)Jones Day advised Ferro Corporation in its €149 million (US$165 million) acquisition of Barcelona-based Nubiola Pigmentos, a worldwide producer of specialty inorganic pigments and the world’s largest producer of Ultramarine Blue, a high-value pigment for plastics and construction industries due to its durability, unique color attributes, and its whitening capability.
  • Ferro sells Polymer Additives business for $154 millionJones Day advised Ferro Corporation, a leading global supplier of technology-based performance materials, in its sale of the majority of the assets of its Polymer Additives business to Polymer Additives, Inc., a wholly owned portfolio company of H.I.G. Capital, LLC, for approximately $154 million in cash.
  • Speaking Engagements

    • June 28, 2016
      Legal Issues Related to Outbound Investments, Suzhou Outbound Seminar hosted by Jiangsu NDRC
    • June 16-19, 2016
      Comparison of Legal Regulations on Digital Health and Telemedicine in the US and China, 6th Annual Academic Congress of Chinese Society of Digital Medicine & Founding Conference of the International Society of Digital Medicine & 1st International Conference on Digital Medicine and Medical 3D Printing
    • January 26, 2016
      CLE Academy Shanghai 2016
    • July 16, 2014
      Anti-Corruption Due Diligence in Cross-Border M&A, The European Chamber Annual M&A Conference
    • June 12, 2014
      2014首届律商联讯法律高峰论坛 The First Annual LexisNexis Legal Summit - "规制缓和与规制强化双重背景下的公司法务 -- 机遇与挑战"
    • April 22, 2014
      Jones Day and InterChina M&A Update 2014 - Legal Issues in Recent Restructuring/Divestment Transactions
    • March 6, 2014
      The European Chamber M&A/PE Committee Event - Deal Structure Issues Arising from Recent M&A Deals
    • December 12, 2013
      Mergers & Acquisitions Due Diligence Conference 2013 - Anti-Corruption Due Diligence in Cross-Border M&A
    • 2013年10月23日
    • October 18, 2013
      Jones Day and InterChina M&A Networking Event - Deal Structure Issues Arising from Recent M&A Deals
    • 2013年9月5日
    • 2013年5月9日
    • 2012年10月25日
    • October 25, 2012
      China Inbound Seminar: New Challenges and Opportunities for Foreign Investments in China
    • 2012年10月23日
    • October 23, 2012
      Life Science Legal Drama - "Mr. Big in Wonderland"
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