With the rapid growth in the development of economic reform in the People???s Republic of China since the late 1970s, China???s legal system has also been undergoing major reform and development. This has seen the emergence of a major effort to draw upon the law reform experiences of other countries, especially in the area of economic law reform. As the securities industry is a key component of an increasingly corporatised market economy, it has been necessary to adopt an effective body of securities laws. Disclosure is the fundamental issue of securities laws as it exists in market transactions and the conduct of market participants. As such, the development of an appropriate body of disclosure law and practice is vital to the integrity of securities law and ultimately to the market economy. It is for this reason that this dissertation looks at the development of China???s securities market and corporate disclosure laws, and identifies the forces that have led to its current form and content. This dissertation argues that China???s legal system must be seen as a product of China???s distinctive history and local circumstances. It analyses the current nature of China???s corporate disclosure laws and notes that China???s law reformers have relied heavily upon the US model which may not necessarily suit China. Based upon a number of theoretical understandings of the transplantation and development of law, this dissertation argues that China???s approach to law reform in this area has not always produced a body of law that is appropriate to China???s particular circumstances. It suggests that valuable insights can be gained from a comparison of the methods of corporate disclosure law reform that were followed in Australia. The Australian experience is relevant to China as Australian lawyers and regulators have played an important role in fashioning securities regulation in Hong Kong and as Hong Kong has sometimes been seen as providing useful models for China itself.
| Identifer | oai:union.ndltd.org:ADTP/188108 |
| Date | January 2005 |
| Creators | Fu, Jian, Law, Faculty of Law, UNSW |
| Publisher | Awarded by:University of New South Wales. School of Law |
| Source Sets | Australiasian Digital Theses Program |
| Language | English |
| Detected Language | English |
| Rights | Copyright Jian Fu, http://unsworks.unsw.edu.au/copyright |
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