《LEGAL DEVELOPMENTS IN CHINA:MARKET ECONOMY AND LAW》

PART 1 -- MODERNIZATION, MARKET ECONOMY AND LAW3

The Developing Theory of Law and Market Economy in Contemporary Chinaby Albert H.Y. Chen)3

Introduction3

General Considerations5

Special Issues9

Conclusion12

Notes15

Administrative Law and the Market Economyby Professor Jiang Mingan21

Introduction21

The Nature and History of Administrative Law22

Administrative Law and the Market Economy22

Functions of Administrative Law23

Conclusion26

From Mixed to Market Economy -- Constitutional Experience in Indiaby Professor Mahendra P. Singh27

Notes35

Appendix -- The Constitution of India36

PART 2 -- COMPANY LAW: HONG KONG AND CHINA51

Proposals for a New Corporate Rescue Procedure in Hong Kongby Professor Edward L.G. Tyler51

Corporate Failure Generally51

Current Position on Company Rescue53

Companies Ordinance (Cap 32) Section 16655

The Alternatives or Additions to Section 16657

Insolvency Law Reform in Hong Kong57

Characteristics of a Good Rescue Procedure58

The Sub-Committee's Recommendations60

The Carrot and the Stick65

Notes68

Expanding Shareholder Control in Hong Kongby Philip Lawton70

General Background70

The Enhancement of Shareholder Value72

Corporate Control and the Family Business74

Corporate Democracy and Shareholder Consent79

The Role of the Institutional Shareholder80

Ownership Concentration and Management Remuneration in Hong Kong87

The Market for Corporate Control90

The Case for Independent Directors92

Conclusion96

Notes99

The Securities and Futures Commission and Securities Regulation in Hong Kongby Judith O'Hare108

Introduction108

Development of a Securities Market in Hong Kong109

Origins of Security Regulation in the Modern Financial Market114

Market Reform and the Securities and Futures Commission (SFC)117

Current Role of the SFC and Recent Developments121

Conclusions124

Notes126

Piercing the Company Veil and Regulation of Companies in Chinaby Zhang Xianchu129

The Background and the Major Types of Abuses129

The Current Legal Framework against Abuses of Incorporation131

The Judicial Practice on Piercing Company Veil Actions134

The Urgency of Introducing the Doctrine into China138

Notes140

Contemporary Market Economy and Mathematical Jurisprudenceby Professor Liu Ruifu144

Mathematical Economy and the Law144

Characteristics of Mathematical Jurisprudence148

Field and Mission of Mathematical Jurisprudence154

Branch, Structure and Future of Mathematical Jurisprudence166

PART 3 -- BANKING AND CONTRACT171

The Market Economy and Freedom of Contract Issues Relating to the Unification of China's Contract Legislationby Professor Wei Zhenying171

Introduction171

The Development of the Principle of Freedom of Contract172

China's Market Economy and the Implementation of Freedom of Contract175

Issues Relating to Freedom and Restriction of Contract in China's Uniform Contract Law178

Notes185

The Relationship between Commercial Banking Law and the Regulations of the PRC on Management of Foreign Funded Financial Institutionsby Professor Wu Zhipan186

Origin and Development of the Legal Environment for Foreign Banks187

Special Characteristics of the Legal Environment for Foreign Banks189

Special Requirements for Foreign Financial Institutes190

Special Licence Procedures191

Special Scope of Business192

Special Rules for Business Control194

The Commercial Banking Law Applied to Foreign Banks198

Effects of Different Legal Environments202

Conclusion204

A Step away from the Market? The Autonomy of Negotiable Instruments and the New Negotiable Instruments Law of the PRCby Professor Derek Roebuck and Wong Wai-Ip205

Background205

Chinese and Common Law Ideologies206

Planned Economies and Market Economies207

The Need for Autonomy209

Bills of Exchange210

The York Airconditioning Case211

The New Chinese Law212

Documentary Letters of Credit213

Conclusion213

Notes214

The Role of the Central Bank of Chinaby Dr D.K. Srivastava and Wang Chenguang217

Introduction217

The Role of the PBC in the Planned Economy218

The Organization and Structure of the PBC219

Formulation and Implementation of the Monetary Policy220

Issuance of Renminbi (RMB) and Management of its Circulation221

The Establishment of the Financial Institutions and the Supervision and Management of their Operation221

The Supervision of Financial Markets223

Reserve Funds226

Re-discount227

Interest Rates228

Loans229

Accounts for Financial Institutions and Clearing Services230

Conclusion231

Notes231

Reconceptualizing China's Contract Law -- The Problem of Interpretation of Contractby Ling Bing235

The Relevance of the Problem236

The Civil Law Approach237

The Common Law Approach238

The CISG Approach238

The Draft Articles on Interpretation of Contract in the Uniform Contract Law239

Conclusion241

Notes242

PART 4 -- THE ROLE OR GOVERNMENT IN MARKET ECONOMY249

A Comparative Study on the Act of State Doctrine--With Special Reference to the Hong Kong Court of Final Appealby Professor Wang Guiguo249

Acts of State under the Common Law251

Acts of State under Civil Law265

The Chinese Position271

Synthesis of the Act of State Doctrine276

Acts of State and the Basic Law of Hong Kong282

Conclusion284

Notes285

The Function of Legal Evasion in China's Economic Reform -- From a Socio-Legal Perspectiveby Dr Zhu Suli294

Issues294

A Case of Private Settlement296

Folk Law296

Reasons for Private Settlement297

The Role of State Law298

Final Analysis299

Notes301

Recent Developments in Consumer Production -- an Updateby Henry W.L.Chen and Stephen Foo303

Development of Consumer Movement in Hong Kong303

Formulation of a Set of Consumer Legislation in Hong Kong305

"Dealing as a Consumer'305

The Control of Exemption Clauses Ordinance (the "CECO')306

The Supply of Services(Implied Terms) Ordinance (the "SOSITO')310

The Unconscionable Contracts Ordinance (the "UCO')310

The Consumer Goods Safety Ordinance [the "CGSO')312

The Sale of Goods (Amendments) Ordinance 1994313

The Consumer Council314

The Consumer Legal Action Fund315

Pre-sale of Land in Hong Kong and China315

Advertisement and Sale of Properties Located in China316

Conclusion317

Notes317

PART 5 -- CORRUPTION, MARKET REFORM AND CRIMINAL JUSTICE325

Perfecting China's Legal System to Fight Crimes of Briberyby Professor Chu Huaizhi325

Definition of Concepts325

Factors Involved in Corruption and Bribery326

Developing a Legal System to Combat Bribery328

Notes335

The Present and Future of Criminal Defence in Chinaby Dr Fu Hualing336

Introduction336

The Role of Defence Lawyers in China337

The Rights of Defence Lawyers339

The Reform345

Conclusion348

Notes348

References350

The Present Situation of Corruption in China and Anti-corruption Countermeasuresby Zhang Xiaoqin352

The Present Situation of Corruption and Its Characteristics352

The Present Anti-corruption Counter-measures and Thoughts354

PART 6 -- ENVIRONMENTAL AND CONSUMER PROTECTION361

Protecting Consumers' Rights to Informationby Zhang Shouwen361

Introduction361

The Consumer Right to Information361

The Importance of Protecting Consumer Rights to Information362

Legal Protection of the Consumer Right to Information365

Notes369

Environmental Tort and Civil Remedies -- Problems in Environmental Legislationby Professor Jin Ruilin)371

Introduction371

Characteristics of Environmental Tort372

Attribution -- From Liability for Negligence to Liability Without Fault373

Continental Law376

The Causal Link Construction and the Shift of the Burden of Proof377

Civil Remedies in Environmental Tort379

Civil Remedies for Environmental Tort in China383

Notes384

Will the Balance Between Economic Development and Environmental Protection be Tipped to the Latter? -- An Examination of the 1995 Amendments to the Law of the PRC on Prevention and Control of Atmospheric Pollutionby Lin feng386

Introduction386

Current Status of China's Air Pollution388

Examination of the 1987 Air Pollution Law389

Analysis and Comparison of the EPB Proposals with the 1995 Amendments393

Conclusion402

Notes403

Common Law, Common Sense and the Environment in Hong Kongby Bryan Bachner407

Evolution of the Common Law in Hong Kong408

The Common Law and the Environment413

Problems with the Application of the Common Law of Environmental Protection421

Conclusion423

Notes424