Dec 2009, Volume 4 Issue 4
    

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  • Research articles
    Chinese Wall system in large finance and market institutions —Experience and lessons of the Anglo-American legal system
    HUANG Hui,
    2009, 4(4): 489-506. https://doi.org/10.1007/s11463-009-0026-z
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    Large modern professional finance and market institutions have inevitably been subject to conflicts of interest, and the Chinese Wall has been an innovation, if not always successful, which provides a convenient solution to those problems. The Chinese Wall is designed to get a balance between commercial reality and public confidence. Attitudes towards the Chinese Wall vary from country to country, depending on the level of such balance. Experience in the relevant industries, however, has cast doubt on the effectiveness of the Chinese Wall in protection of the interest of investors, which suggests the current Chinese Wall is far from ideal, and consequently there is still a long way to improve the design and enhancement of the Chinese Wall, calling for the development of a more supplementary and enforcement mechanism.
  • Research articles
    The cross holding of company shares —A preliminary legal study of Japan and China
    GUO Li, YAKURA Shinsuke,
    2009, 4(4): 507-522. https://doi.org/10.1007/s11463-009-0027-y
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    Cross shareholding is a practice whereby pairs of companies exchange holding of shares. It is vitally important to recognize that cross shareholding has both positive and negative effects, the latter of which demand particular scrutiny. This article tries to suggest a possible framework for the regulation of cross shareholding in China, by mainly applying lessons and implications from the experiences of Japan, where cross-holding has contributed to the spike and collapse of its economy. Currency appreciation, accounting rules changes and capital market restructuring are putting China in the similar shoes. Targeting at different situations, hereby a spectrum of rules has been proposed.
  • Research articles
    “Convergence of three nets” and its law transformation in China —On response of China’s antimonopoly law to the challenges of the “convergence of three nets”
    WANG Jian, ZHU Hongwen,
    2009, 4(4): 523-542. https://doi.org/10.1007/s11463-009-0028-x
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    The convergence of the three nets of telecommunication, television and Internet is a general trend of development. Though the “convergence of three nets” promotes the competition in the relevant markets, it causes relatively big impacts on the existing legal order. To meet the challenges brought forth by the “convergence of three nets”, many countries and regions have successively adopted effective measures for legal transformation, not only integrating laws and regulations on the telecommunication industry, but also attaching high importance to the transformation of the legal adjustment and control mode where increasingly more emphasis is laid on the influence and functions of competition law in the “convergence of three nets”. China’s antimonopoly law shall also play an important role during the process of the “convergence of three nets”. With respect to the definition of the relevant market and identification of monopoly practices, we shall closely combine the features of the “convergence of three nets” and pointedly apply the antimonopoly law.
  • Research articles
    “Legitimacy” of international law: The source, development and the paths to overcome crisis —Analysis from the perspective of international institutional theory
    LIU Zhiyun,
    2009, 4(4): 543-567. https://doi.org/10.1007/s11463-009-0029-9
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    The source or basis of the force of international law or legitimacy of international law is a basic issue in international jurisprudence and the heart of controversy among scholars pro and con international law. In the development of the discipline of international law, this issue has been extensively discussed along various academic paths. In the background of globalization, the demonstration on the “legitimacy” of international institutions by the school of international institution in the field of international relations, including the “source of legitimacy”, the acquisition of legitimacy or legalization, and even the “legitimationskrise”, sheds helpful light on further study of the “legitimacy” of international law.
  • Research articles
    From a legal perspective to see the evolution and transformation of land tenure institutions in China
    WU Jian,
    2009, 4(4): 568-600. https://doi.org/10.1007/s11463-009-0030-3
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    Through the discussion of property rights of land in the People’s Republic of China by examining the evolution of legal frameworks governing land institutions and that of the rights embodied, it traces out the development of urban and rural land tenure changes during the pre-reform era (pre-1978) and post-reform era (post-1978). Analysis shows that after thirty years of opening up and orientation towards a market economy, there is still a wide divergence of rights between urban and rural land tenure. Quasi-leasehold system of urban land tenure, accompanied by relatively well-established titling and registration procedures as well as an open market for transaction, has been established. In contrast, although the rural land contracting system has endowed farmers with thirty years of agricultural land usufruct rights and attempts to strengthen farmers’ tenure security have been made progressively over the years, farmers are yet not enjoying the full bundles of land rights. Imminent reforms in rural land tenure includes, but not restricted to, the following crucial areas: Farmers’ right to mortgage their land, a well-functioning land market, well-defined and just causes for land requisition written in law, a clear delineation of the different roles and rights of the collective and individual farmers.
  • Research articles
    WTO disputes settlement —China’s performance and proposals on its improvement
    YU Minyou,
    2009, 4(4): 601-632. https://doi.org/10.1007/s11463-009-0031-2
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    How to understand China’s policies and practices on the WTO dispute settlement since its accession to WTO and conduct objective and reasonable assessment on its performance and achievements in WTO dispute settlement is currently an important issue of concerns. By analyzing China’s performance in the WTO dispute settlement in the broad environment of the WTO dispute settlement activities over the past thirteen years, this paper holds that the WTO dispute settlement mechanism has made remarkable achievements over the past 13 years, strongly promoted the trade relationship of the WTO members and settled tough and complicated trade disputes in a timely, effective and proper manner; and over the past seven years after China’s accession to WTO, China’s practice in WTO dispute settlement mechanism has rendered the following initial impression: High-profile positive policies and low-profile moderate acts; not hesitate to file complaints but be good at responding to complaints in participating in the WTO dispute settlement activities; more consultations should be made with less litigations; diligent in participation and strict in implementation; and handling trade disputes related to the WTO rules in a reasonable, effective and moderate manner.
  • Research articles
    Conflict of normative documents and its management in China
    KONG Qingjiang,
    2009, 4(4): 633-646. https://doi.org/10.1007/s11463-009-0032-1
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    Regulatory instruments in the form of normative documents has been used as a way to modernize Chinese society since the late 1970s. However, the conflict between laws undermines the effectiveness of such efforts. This article aims to answer the following questions in the process of law-making: How serious is the conflict of normative documents in China? Why there exists the conflict of normative documents? How the Legislation Law approaches the conflict of normative documents? What to be done to prevent the conflict of normative documents?