Before joining Han Kun in 2020, Ms. Fang Rong practiced for 18 years with King & Wood Mallesons.
Ms. Fang has extensive experience in advising on REITs and asset-backed securitization (ABS) deals.
She has advised on over 50 single-type REITs and CMBS/CMBN projects in respect of their
establishment, issuances, and exits, accounting for about 60% market share of similar products.
Notable firsts among these deals include the first expandable REIT deal, the first logistics and real
estate storage rack REIT deal, the first RMB 10 billion commercial storage rack REIT deal, the first
continuous issuance REIT deal, the first RMB 10 billion storage rack rental housing REIT deal, the
first interbank market REIT products deal, the first single-layer structure CMBS deal, and many
others. Currently, Ms. Fang also provides legal services for multiple public REIT projects.
Ms. Fang is an expert in advising on infrastructure and Public-Private Partnership (PPP)-related issues,
and has represented clients from a broad range of industries, including water services, area
development, rail transit, highways, hydropower, wind power, garbage disposal, etc. Ms. Fang has
taken the lead in advising on PPP projects structured in form of BOTs, TOTs, etc., and has provided
legal services for clients including local governments at all levels, various state-owned enterprises,
private enterprises, multinationals, investors, and financial investors in various industries. In
addition, Ms. Fang also serves as a PPP expert for the Ministry of Finance and was hired by the Asian
Development Bank as a legal expert on its domestic PPP policy research projects. Ms. Fang has
also been involved with the legislative work of multiple PPP and franchise-related policies and
regulations in China.
Ms. Fang provides general legal services for many real estate companies and has participated in
projects including land acquisition, project finance, investments, and mergers and acquisitions. Ms.
Fang has advised CITIC Trust, Zhongrong International Trust Co, Ltd., Minmetals International Trust
Co., Ltd. and Ping An Trust on a number of trust products in the real estate field in respect of structure
design and drafting of trust documents. In addition, Ms. Fang also advised Longfor Group, Tahoe
Group, Modern Land, China Life, and New China Life on their M&A projects across many cities in
the field of domestic real estate.
Ms. Fang has been repeatedly rated as a leading lawyer in the real estate and construction fields by
The Legal 500 and China Law & Practice, and was recognized as a noted practitioner in the field of
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financial derivatives by Chambers and Partners.

Bar Admissions
Member of the PRC Bar
Member of the New York State Bar

Education
Ms. Fang received an LL.B degree from China University of Political Science and Law and later
attended Sun Yat-sen University and Duke University, where she earned a master’s degree and an
LL.M. degree, respectively.