A Promising Path or Dead End? A Director’s Duty of Care in China

IF 1.2 Q1 LAW
C. Weng
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引用次数: 0

Abstract

After over two decades of development, Chinese statutory directorial duties have evolved into two segments: the duty of care and the duty of loyalty. However, the duty of care is still difficult to apply. While an abstract and vague drafting style is a common characteristic of Chinese legislation, a survey of existing Chinese laws and administrative rules should assist in clarifying the duty of care requirements expected of directors. Considering the increasing significance of judicial precedents and the exemplary function of administrative sanctions, analysing recent duty of care cases is conducive to supplementing further information and deciphering myths surrounding the application of the duty of care mechanism in China. However, this analysis demonstrates that there are inconsistencies in the standards of care applied by courts and by the China Securities Regulatory Commission. The article finds that a clearer statutory standard of care should be introduced into the People’s Republic of China Company Law.
前途之路还是死胡同?董事在中国的注意义务
经过二十多年的发展,我国法定董事职责分为两个部分:注意义务和忠实义务。然而,注意义务仍然难以适用。虽然抽象和模糊的起草风格是中国立法的共同特点,但对中国现有法律和行政法规的调查应有助于澄清董事的注意义务要求。考虑到司法判例的重要性和行政制裁的示范作用日益增加,分析最近的注意义务案件有助于补充更多信息,破解中国适用注意义务机制的神话。然而,这一分析表明,法院和中国证监会适用的谨慎标准不一致。文章认为,应在《中华人民共和国公司法》中引入更明确的法定注意标准。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
1.30
自引率
7.70%
发文量
25
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