Limited liability in Chinese corporate law helps the shareholders to reduce the risk of running a company because a company will use its assets to reimburse the debt instead of shareholders’ personal property. However, the shield of the company will be pierced when the shareholder abuses his rights. In 2019, the Supreme People’s Court (SPC) issued two different judgments concerning a special rule – reversing the burden of proof in a one-person limited liability company in Chinese Company Law.
The facts of both cases involve a married couple who set up a limited liability company to operate a business and protect their personal and family property from creditors. In the 2019 appeal case, Wuhan … Read the rest
LLM Candidate, Peking University School of Transnational Law
Women’s property rights were restricted by social norms in imperial China. Property was passed down through male heirs. In most cases, wives could not inherit property upon their husband’s death. Most property brought by a wife into marriage belonged to her husband’s family. Meanwhile, a wife was beholden to her father before marriage and subordinate to her husband after marriage. Against this backdrop, there is a Chinese saying that “a wife pays for her husband’s debts”.
This saying still holds true under existing marriage laws of the People’s Republic of China. Creditors may enforce against property owned jointly by the non-debtor spouse … Read the rest
With numerous catastrophic effects, climate change threatens to increasingly displace countless people around the world. The impending impacts range from entire states disappearing as a result of rising sea levels to nearly one-third of humanity staying in extremely hot and uninhabitable areas, according to most extreme projections.At the same time, projections indicate that due to global warming, the climatic conditions in Russia, which as the northernmost nation-state is largely covered with permafrost, should generally improve. Global warming is already changing the climatic living conditions in Russia: 63 percent of the land was considered unfavorable for living between 1961 and 1990; between 2001 and 2010 … Read the rest
By Zhu Zhimeng 朱知萌 Peking University School of Transnational Law
The digitization and automation of the global economy have the potential to destabilize what is arguably the world’s most important tax tool–personal income taxes. Therefore it has wide-ranging economic and social implications.
These effects include but are not limited to, an increase in the gap between rich and poor, an increase in unemployment, and a reduction in national tax revenues. After reviewing global literature, I found that the overall international consensus of experts is that it is imperative to tax robots.
In June 2017, Nobel laureate Robert Shiller said that to alleviate the income gap caused by the robot revolution, it is necessary to reconstruct the … Read the rest
In recent years, antitrust has become more and more important for China, which is consistent with the global trend. In 2018, China launched the reform of its antitrust authorities. Under that reform, the antitrust law enforcement functions formerly split among the National Development and Reform Commission (NDRC), the Ministry of Commerce, and the State Administration for Industry and Commerce were merged into the newly established State Administration for Market Regulation (SAMR), which made good preparation for enhancing antitrust law enforcement. Moreover, the fact that the 2020 Central Economic Work Conference listed antitrust and preventing disorderly capital expansion as one of the eight economic key tasks in 2021 shows that the Central Committee … Read the rest
I. Introduction The pandemic of COVID-19 has taken a tremendous toll on all of us, as the crisis has ravaged the world. In China, Traditional Chinese Medicine (“TCM”) has played an important role in the treatment of COVID-19. On 19 August 2020, the General Office of National Health Commission together with the State Administration of Traditional Chinese Medicine announced the Diagnosis and Treatment Plan for New Coronavirus Pneumonia (Trial Version 8)(“Plan”) . In the Plan, these authorities acknowledged TCM’s contribution to curing Covid-19 patients. Just as the World Intellectual Property Organization (“WIPO”) has stipulated, “growing commercial and scientific interest in traditional medicine system has led to calls for traditional … Read the rest