This book addresses the on-going process of financial restructuring and reform
in post-WTO China from a legal perspective. Chapter 1 provides an overview of
the impact of the WTO on China’s financial markets and financial law systems.
Chapter 2 discusses reform of banking law and regulation in post-WTO China.
Chapter 3 addresses the role of the central bank in China’s financial system,
focusing on issues of independence and accountability of the People’s Banking
of China (PBOC), China’s central bank. Chapter 4 analyses China’s compliance
with WTO obligations in the area of banking. Chapter 5 discusses the role of
asset management companies (AMCs) in China’s on-going banking restructuring
and liberalization. Chapter 6 analyses the development of securities markets
in China, the challenges being faced and the impact of the WTO. Chapter 7
describes insurance and its development in China, focusing on the role of the
WTO in liberalization. A new topic in China, i.e., financial conglomerates, is
discussed in chapter 8, building upon the discussions in the previous
chapters. Chapter 9 in turn studies the issue of financial institution
insolvency and restructuring as noted in previous chapters, key issues in
China. Chapter 10 discusses the double impact of the WTO and one of China’s
regional trade agreements, CEPA, on China’s banking law.
Editors and Contributors, Foreword, Preface
Chapter 1 The WTO and Financial Restructuring in
China
I. China’s GATS/WTO Commitments in Financial Services
II.
China’s Financial Regulatory System
III. Banking
IV.
Securities
V. Insurance
VI. Conclusion
Chapter 2 Banking
Regulatory Law Reforms in China: A Long Way to Go Towards International
Standards
I. Banking Regulatory System
II. Regulation of Bank
Entry
III. Ongoing Regulation
IV. Dealing with Problem Banks
V. Concluding Remarks
Chapter 3 Independence and Accountability of
the People’s Bank of China: A Legal Perspective
I. Introduction
II. Independence of the PBOC
III. Accountability of the PBOC
IV.
Concluding Remarks
Chapter 4 Implementation of China’s WTO
Commitments: The Compliance Issue in Banking
I. Introduction
II.
Implementation of the WTO Agreements in China
III. China’s Banking Law
Framework
IV. Compliance with WTO Obligations in Banking
V. WTO
Transitional Review of China’s Banking Law
VI. Conclusion
Chapter 5 Financial Restructuring and China’s Asset Management Companies
I. Introduction
II. Background: AMCS in China
III. The Legal
Framework of China’s AMCs
IV. Corporate Governance of AMCS
V.
State Policy Towards Disposing NPLS
VI. Property Rights of Transferred
AMC Assets
VII. Foreign Participation
VIII. Restructuring
State-Owned Enterprises
IX. Conclusion
Chapter 6 Liberalization
and Reform of China’s Securities Markets after WTO Accession
I.
Introduction
II. China’s Securities Sector Commitments
III.
Implementation of its Securities Sector Commitments
IV. Implementation
Challenges
V. Effect of Voluntary Liberalizations
VI. Sequencing
of Liberalization and Reform
VII. Role of Institutional Investors
VIII. Economic Impacts of Liberalization
IX. Conclusion
Chapter
7 Insurance in China: Liberalization and Restructuring Post-WTO
I.
Introduction
II. Basic Framework of China’s Insurance Legislation
III. China’s WTO Obligations and Insurance
IV. China’s
Insurance Legal Regime in the Context of Its WTO Obligations
V.
Conclusion
Chapter 8 Financial Conglomerates in the People’s Republic
of China
I. Introduction
II. Chinese Law and Practice
III.
International Practice
IV. Chinese Conglomerate Policy Revision and
Reform
V. Conclusion
Chapter 9 Financial Institution Insolvency
in the PRC
I. Introduction
II. Financial Institution Insolvency
III. Overview of Chinese Bankruptcy Law
IV. Financial Institution
Insolvency Law Reform in China
V. Concluding Observations and
Recommendations
Chapter 10 China’s Banking Law and Free Trade
Agreements: The Case of CEPA
I. Introduction
II. Relations
between the CEPA and the WTO
III. China’s Specific Commitments in
Banking Services under the CEPA
IV. Implementation of the CEPA in China
V. How to Adjust China’s Banking Law under the CEPA and WTO
VI.
Conclusion
