Research Handbooks in Corporate Law and Governance series
Edited by Adolfo Paolini
Chapter 6: Directors’ duties in China
When we talk about “Chinese law”, many people smile and ask, “is there Chinese law?” Surely they have heard, or suffered, the consequences of the difference between the theory and the practice of law in that country: excessive governmental meddling, the intervention of the Communist Party, local protectionism, fraud and manipulation in the markets, weak enforcement, judicial corruption at certain levels, are only some of the elements that cause there to be a great difference between the theory and the practice of law in China. To begin with, is there a rule of law in China? Actually, the Chinese have made an immense and valiant effort to have the rule of law. It is really impressive to see the quality and quantity of its laws, institutions and studies in such a short period of time. But there still is a great distance to travel for a rule of law in China to achieve the standards of Western countries. One of my courses in the Law School of Pontificia Universidad Cat—lica de Chile is precisely “The Rule of Law in China” and there we are seeing, with very specific research, the different areas in which there still is a great distance to travel.
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