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.
SecuritiesV. 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.