Chinese Law eJournal最新文献

{"title":"A Better Model for Australia’s Enhanced FinTech Sandbox","authors":"Anton N Didenko","doi":"10.53637/xcwh2963","DOIUrl":"https://doi.org/10.53637/xcwh2963","url":null,"abstract":"On 1 September 2020, Australia’s ‘enhanced regulatory sandbox’ (‘ERS’) finally became operational. The ERS replaced the previous FinTech sandbox established and operated by the Australian Securities and Investments Commission (‘ASIC’), which had existed since 2016 but attracted only seven participants. This research analyses how and why Australia’s sandbox framework – with its unique non-authorisation model of operation – has evolved until now and evaluates whether the new enhanced sandbox regime can help to achieve its stated objectives. This article shows that the current sandbox reform merely scrapes the surface of the many challenges underlying ASIC’s FinTech sandbox and argues that these challenges can only be adequately resolved by revising the chosen sandbox model and switching to an authorisation-based sandbox design.","PeriodicalId":356075,"journal":{"name":"Chinese Law eJournal","volume":"103 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-06-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116842999","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Explaining the Limits of the WTO in Shaping the Rule of Law in China","authors":"Ming Du, Qingjiang Kong","doi":"10.1093/jiel/jgaa027","DOIUrl":"https://doi.org/10.1093/jiel/jgaa027","url":null,"abstract":"When China acceded to the World Trade Organization in 2001, pundits were enthusiastic about the prospect that China’s World Trade Organization membership would boost international trade, encourage China’s restructuring toward a market economy, discipline the domestic legal system, and strengthen the rule of law in China. More recently, however, serious concerns have been raised regarding China’s record on the rule of law. The first National Security Strategy report issued by the Trump Administration in December 2017 claimed that China’s increased participation in the liberal international economic system had not effectuated China’s deeper engagement with, or respect for, the rule of law.<br><br>The purpose of this article is to take a critical look at the two contrasting narratives on the impact of the World Trade Organization on China’s rule of law construction over the past two decades. It concludes that, although the World Trade Organization has played a positive role in advancing the rule of law in China, such a role has long been exaggerated. Accordingly, we provide an account of why the World Trade Organization has failed to play a catalyst role in instituting the rule of law in China widely expected in the western world.","PeriodicalId":356075,"journal":{"name":"Chinese Law eJournal","volume":"36 3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124431978","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Impact of Foreign Slowdown on the U.S. Economy: An Open Economy DSGE Perspective","authors":"Ozge Akinci, Gianluca Benigno, Paolo A. Pesenti","doi":"10.2139/ssrn.3787051","DOIUrl":"https://doi.org/10.2139/ssrn.3787051","url":null,"abstract":"Over the course of 2018, economic activity in major advanced foreign economies and emerging markets—including the Euro area and China—decelerated noticeably. In parallel, foreign growth projections for 2019 and 2020 were revised down, signaling potentially large headwinds for the U.S economy over the medium term. In this article, we use a multi-country simulation model to quantify economic spillovers to the United States from a slowdown originating in the Euro area. Next, we compare these results with spillovers from a slowdown originating in China. We find that spillovers to the U.S. economy from a slowdown in the Euro area are sizable, mainly due to lack of monetary policy space in the region along with greater financial integration between Europe and the United States. Standard trade-related spillovers from a slowdown in China to the United States, instead, are quantitatively limited.","PeriodicalId":356075,"journal":{"name":"Chinese Law eJournal","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114055541","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Economic Development through Migration - Facilitating Skilled Migration to China through the Belt and Road Initiative","authors":"Eva L Richter","doi":"10.1093/cjcl/cxaa021","DOIUrl":"https://doi.org/10.1093/cjcl/cxaa021","url":null,"abstract":"\u0000 Strengthening people-to-people ties is part of the Belt and Road Initiative’s (BRI) cooperation priorities and is to be realized, among others, through student and academic exchanges, research cooperation, joint vocational training, and tourism. Through national legislation and efforts in bilateral and multilateral cooperation on student, academic, and personnel mobility, China occupies a key role in shaping the way migration develops along the BRI. The findings suggest that new skilled migration legislation in China, geared towards foreigners with tertiary education, paired with BRI cooperation efforts and visa facilitation, is opening comparatively more opportunities for skilled nationals of BRI countries. BRI nationals are more often exempt from visas and have access to targeted talent attraction and retention programs. Nevertheless, up to now, these efforts have been mainly undertaken by the Chinese government, and skilled BRI nationals are not being encouraged to migrate to China under the bilateral employment agreements.","PeriodicalId":356075,"journal":{"name":"Chinese Law eJournal","volume":" 17","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"113951710","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Chinese (Taiwan) Yearbook of International Law and Affairs: Contributing to the Grotian Moment in Asia:","authors":"Pasha L. Hsieh","doi":"10.1007/978-94-6265-403-7_9","DOIUrl":"https://doi.org/10.1007/978-94-6265-403-7_9","url":null,"abstract":"","PeriodicalId":356075,"journal":{"name":"Chinese Law eJournal","volume":"26 4","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-05-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131624639","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Duty of Fair Presentation after the Enactment of the Insurance Act 2015: The Case of Korea and China","authors":"Tae-Kun Ahn, S. Kim, Tian Peng","doi":"10.35611/JKT.2020.24.2.1","DOIUrl":"https://doi.org/10.35611/JKT.2020.24.2.1","url":null,"abstract":"Purpose – The purpose of this paper is to analyze the reformed duty of fair presentation provisions and related caselaw of the Insurance Act 2015 to gain a clearer understanding of the differences between the Act and the preceding legislation. <br><br>Design/methodology – The authors analyzed caselaw from South Korea and China that involved breaches of the duty of disclosure. Cases highlighting differences between the duties of disclosure and fair presentation were selected. <br><br>Findings – Changes in the practice of marine insurance laws are expected from the application of the reformed duty of presentation provisions. In particular, the rights of the insured are expected to increase, resulting in the fairer conduct of insurance contracts. Due to the fact that the Insurance Act 2015 has only recently taken effect, the provisions of existing caselaw have not yet been applied. This has limited the authors’ scope of analysis. <br><br>Originality/value – This paper describes the implications of the duty of fair presentation by analyzing caselaw from South Korea and China that involves the duty of disclosure. To the best of the authors’ knowledge, this is the first paper that investigates the reformed duty of fair presentation provisions of the Insurance Act 2015 in the context of the legislation’s implications for trade practices.","PeriodicalId":356075,"journal":{"name":"Chinese Law eJournal","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127183586","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"‘We Are Married, but We Cannot Afford to Live Together’: Exploring the Legal Implications of This Marital Phenomenon in Hong Kong","authors":"Martin Kwan","doi":"10.2139/ssrn.3463620","DOIUrl":"https://doi.org/10.2139/ssrn.3463620","url":null,"abstract":"This article explores an increasingly common marital phenomenon in Hong Kong where married couples cannot afford to live together given the high property prices and they choose to live with their own parents respectively. It is submitted that the existing legal regime cannot adequately accommodate this conjugal arrangement, which would lead to some uncertainties and inconsistencies.<br><br>In particular, the thrust of the legal concern is whether there is a 'mutual household'. The existing legal regime, which is premised on expecting a marriage will have a household, fails to accommodate the nature and needs of these couples. On the one hand, holding that there is a mutual household is inconsistent with the nature of this type of marriage and existing case laws. On the other hand, holding that there is not a common household would in effect allow an immediate divorce, as it means they are separated right from the beginning. This is inconsistent with the overall divorce regime which is designed not to allow immediate divorce.","PeriodicalId":356075,"journal":{"name":"Chinese Law eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-09-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128512563","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Local Government Debt and Regional Competition in China","authors":"X. Qu, Zhiwei Xu, Jun-Wen Zhu","doi":"10.2139/ssrn.3420523","DOIUrl":"https://doi.org/10.2139/ssrn.3420523","url":null,"abstract":"The GDP tournament among local governments plays a crucial role in supporting China's growth miracle. Investment-driven economic growth has led to a surge in local government debt in the past decade. To understand the relationship between local government debt and regional competition in GDP growth, we build a simple decision model of local governors based on prospect theory. Using a comprehensive data set of prefectural-level government debt, our empirical results confirm the theoretical prediction that regional competition in GDP growth does affect the dynamics of local government debt. The effect presents an asymmetric pattern, in the sense that a local government with GDP growth falling behind its competitors tends to issue debt more aggressively, while the effect is insignificant for local governments with GDP growth ahead of their competitors'. Furthermore, we find that the regulatory policy implemented at the end of 2015 that places a ceiling on local government debt effectively dampens the impact of regional competition on local government debt. However, local government investment remains strongly responsive to the regional GDP growth gap, probably because of alternative financial channels such as land financing. The above finding indicates that the debt regulatory policy cannot largely prevent local governments from implementing a pro-growth strategy induced by regional competition.","PeriodicalId":356075,"journal":{"name":"Chinese Law eJournal","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127626116","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Enforcement of Chinese Insider Trading Law: An Empirical and Comparative Perspective","authors":"(Robin) Hui Huang","doi":"10.1093/AJCL/AVAA018","DOIUrl":"https://doi.org/10.1093/AJCL/AVAA018","url":null,"abstract":"This paper conducts the first comprehensive and systematic empirical analysis of all relevant insider trading cases in China since the birth of Chinese securities markets in the early 1990s and till middle 2017, shedding important light on the way in which China’s insider trading law has been enforced by the regulator and criminal courts in practice. First, it generates descriptive statistics on the features of insider trading cases, such as the total number of cases over the period, the temporal distribution of the cases, the identity of the insider and the nature of the insider information. Second, it measures the intensity of insider trading enforcement, and compares the Chinese situation with six jurisdictions overseas, including the US, the UK, Australia, Canada, Singapore and Hong Kong. Third, using multiple regression analyses, it identifies potential factors determining the administrative and criminal penalties against insider trading. <br><br>The results of the empirical study indicate that China has significantly stepped up its efforts to crack down on insider trading in recent years, resulting in a sharp increase of insider trading cases, particularly criminal cases since 2008. While the Chinese insider trading law is essentially transplanted from overseas jurisdictions, its enforcement has exhibited distinctive features in its local environment. Judging by the type, magnitude and frequency of the sanctions imposed, the intensity of insider trading enforcement in China seems to be at a level comparable to relevant jurisdictions overseas. Administrative and criminal penalties against insider trading are found to be significantly influenced by some factors, notably the amount of illegal proceeds, the magnitude of social impact, the presence of mitigating circumstances, and whether the trader used others’ accounts to trade. The hope is that the empirical findings may help inform the policy debate over the regulation of insider trading in China and beyond. <br>","PeriodicalId":356075,"journal":{"name":"Chinese Law eJournal","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128107896","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Chronology of Practice: Chinese Practice in Private International Law in 2017","authors":"Qisheng He","doi":"10.1093/CHINESEJIL/JMY028","DOIUrl":"https://doi.org/10.1093/CHINESEJIL/JMY028","url":null,"abstract":"This paper contains materials reflecting the practice of Chinese private international law in 2017. First, the statistics of the foreign-related civil or commercial cases accepted and decided by Chinese courts is extracted from the reports of the Supreme People’s Court (SPC), released in 2018, most notably the Report on the Work of the SPC in 2017. Second, two judicial interpretations of the SPC that took effect in 2017 are translated, i.e., the Provisions of the SPC on Issues Concerning Report and Approval of Cases Requiring Judicial Review of Arbitration and the Provisions of the SPC on Several Issues Concerning Trial of Cases Requiring Judicial Review of Arbitration. These two instruments contain provisions reflecting a pro-arbitration tendency in Chinese courts. Another document, the Nanning Statement of the Second China-ASEAN Justice Forum, is also introduced. It contains a commitment to judicial assistance cooperation, especially improvement of mutual recognition and enforcement of judgments. Third, since China signed the Hague Convention on Choice of Court Agreements in 2017, but has not yet ratified it, one case selected in this paper cites the Convention as a reference in its assessment of the exclusivity of the applicable choice of court clause. Fourth, three representative cases with regard to independent guarantee, letter of credit and financial loan contract are examined. These cases from the SPC shed light on the independence principle of the guarantee and the credit, as well as the strict compliance principle. Fifth, three typical cases decided by various Chinese courts during 2017 are introduced. These cases involve issues relating to the law applicable to construction contracts and land contracts, as well as property relationships between spouses. As for the application of international conventions, two separate cases involving the application of the CISG and the Montreal Convention are reviewed. Finally, the paper examines three cases with different or inconsistent practices regarding reciprocity and other issues, given recent increases in the recognition and enforcement of monetary judgments by Chinese courts. In this regard, a unified practice is required in Chinese courts.","PeriodicalId":356075,"journal":{"name":"Chinese Law eJournal","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124926316","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}