Politics Meets Markets
Description
The book highlights several aspects with 'Chinese characteristics' that set the country's financial system apart. One key element is the significant influence of the Communist Party of China (CPC) on the financial markets. The Party plays a crucial role in shaping and driving policies within the financial sector, reflecting a distinct interplay between politics and finance. Additionally, the book emphasizes the involvement of various authorities within the government, the court system, and the intricate relationship between the courts and the governments in influencing the dynamics of the financial markets. These factors collectively contribute to a distinctive environment that cannot be fully understood through conventional theoretical frameworks.
The major analytical points of the book revolve around the intricate triangular relationships among China's politics, financial market rules, and the financial markets themselves. The authors argue that relying solely on any existing school of thoughts is insufficient for comprehending the complexities of China's financial landscape. Instead, the book explores the multifaceted connections between politics, courts, and the financial markets. It delves into how political forces drive the formulation, development, and enforcement of financial market rules, including the roles played by various government bodies and the legal system. Unlike a focus on regulations and rules merely 'on paper,' the book takes a grounded approach by investigating China's financial markets rules in practical terms. By doing so, it seeks to discover the underlying logic behind the unique features of China's financial system, providing a nuanced understanding of the interactions between political forces, legal frameworks, and the financial markets in the Chinese context.
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Tao Huang is currently the research professor at Guanghua Law School, Zhejiang University. He graduated from Fudan University and Peking University, and he holds a bachelor degree in economics, a master degree in law, and a Ph.D. in law. He was an associate professor at Shanghai Jiao Tong University. His research interests lie in the areas of finance law, company law, law and economics, and international economic law. He has published more than forty articles in academic journals in English and China, in addition to eight monographs and translated works. He has been awarded and led multiple national grants. He has visited the University of Oxford University, the University of Chicago University, Tokyo University, LSE, Melbourne University, and other prominent academic and research institutions. He has also been appointed as the secretary of the Financial Law Society of Zhejiang Province.
Weiping He is currently a law academic in the Monash Law Faculty, Monash University in Australia. Her research interests include the areas of comparative financial markets regulation (securities markets and banking) and comparative studies in corporate law. She is interested in how regulatory regimes differ in terms of nature and dynamics as a result of varied historical, political, and economic circumstances. Her research also incidentally attempts to evaluate the proper role of government vis a vis the market, for example, in assessing the efficiency of various regulatory regimes and the competence and effectiveness of regulators.
Content
Introduction.- The Party State or the Party is the State the CPCs role in the Development of Financial Markets.- Redistribution of Regulatory Powers in the Regulation of Management Products.- The Judiciary is Dispensable in the Resolution of Disputes of the Financial Markets.- Financial Security Why the Courts are Obsessed with it.- Why so Many Financial Disputes are Inadmissible.- A Return to Adam Smith? Bigtechs vs. Status Quo Financial Law and Regulation.- Regulation of Crowdfunding, What a Struggle.- Conclusion.