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The Fourth Chinese-English Law Forum and 2017 Capital Market Law Forum Was Held Successfully in Renmin University of China

On April 10, in order to move forward to complete civil-commercial legislation, and boost domestic capital markets’ marketization, transparency, democratization, integrity, people-oriented and globalization, associating with Queen Mary University of London and Tsinghua UniversityRenmin Universtiy(RUC) held the Fourth Chinese-English Law Forum and 2017 Capital Market Law Forum in 601 international academic conference hall of Mingde Law Building. The conference centered on the modification of corporation law and securities law, and the challenge of competition law in the international background and so on. The conference was completely success.

Professor Wang Liming, the executive vice president of RUC, fully affirmed the commercial law research work carried by Institute of Commercial Law Research of RUC. Prof. Wang introduced the legislative process of Chinese Civil Code. He pointed out that the legislature has cleared about "the unity of civil and commercial” legislation style in the civil law general principles. So the provisions of legal person, civil juristic acts and agency are widely applied to commercial activities. The unity of civil and commercial is civil and commercial law system commanded by general rules of civil law, formed by specific parts of civil law, as well as various commercial special laws. This is a complete structure after civil and commercial legislation systematization.

Prof. Han Dayuan, the dean of law school of RUC, pointed that the frontier research of commercial law carried by the Institute promoted international reputation of law school of RUC. The Sino-British commercial forum invited professors from the United Kingdom, the United States, Germany and other universities, together with experts of practice to discuss and exchange, share ideas, build consensus, effectively promoting international exchange of commercial law and economic law, as well as the academic research of Chinese capital market law.

The conference was divided into three parts. The first was about corporation law. Prof. Liu Junhai, the master of Commercial Research Institute, pointed that in order to promote investment, corporation law and securities law need to modify jointly. He suggested that legislators should strengthen the rules of controlling shareholders not to abuse their rights. He also suggested setting a special chapter as to group companies, giving larger autonomy space to companies and shareholders, making sure arbitral institutes’ important position in the process of companies’ dispute settlement, enhancing to protect the interests of middle-small shareholders, improving social responsibility legislation to promote corporations sustainable development, and advancing electronic revolution of corporation law under the ground of “internet+”. Prof. Claus Luttermann, from Catholic University of Eichstaett-Ingolstadt in Germany, gave a lecture on corporation international investment, valuation and responsibility. Prof. Luttermann thought that companies’ false capital had become universal problem. In order to avoid companies’ false valuation, protect creditors and varieties of investors’ interests, accounting auditing should play more positive role, and also should be the important proof of corporate governance. Dr. Liu Shoubao, the director of Beijing Puhua lawyer office, gave a lecture titled “Thoughts About Strengthening the Protection of Investors’ Legitimate Rights”. Prof. Rodrigo Olivares-Caminal, from Commercial Law Research of Queen Mary University college London, gave a lecture titled” Application of Creditor Agreement in Leveraged Buy-out ”.

The second plate is finance law project. Prof. Shang Xin, from school of law of Tsinghua University, gave a lecture titled "Take Financing Seriously: Merging and Acquisition Financing and Hostile Takeover of Listed Companies in China". Associate professor Gao Simin, from law school of Tsinghua University, took "Looking for Gray Zones between the Law of the World of Black and White: From Shadow Banks" as the theme of his speech. Associate professor Tang Yingmao, from law school of Peking University made a speech titled "Joint Financial Regulation and Its Economic Consequences——Study Based on China,s Small Loan Business”. Prof. Nico Howson, from law school of the University of Michigan gave a lecture titled "Chinese Securities Law Revision——Prohibiting Insider Trading".

The third sector is about competition law. The sector was hosted by Prof. Ioannis Kokkoris, the executive director of the Global Legal Economic and Financial Institute of British Queen Mary University of London. Peter Wang, a lawyer from Jones, expressed his views on "cross-border coordination in corporate combination" in his speech. Associate professor Zhang Chenying, from law school of Tsinghua University discussed the system of forgiveness of anti-monopoly law and civil compensation problem. Prof. Meng Yanbei, from law school of RUC gave a speech around legal regulating of administrative monopoly.

At the meeting, the experts and scholars from China, Britain, Germany and other countries began a heated discussion around the problems about the reform and development of the commercial law, which has important practical significance on promoting modernization and internationalization of China,s company law, securities law, financial law and competition law, boosting investors’ confidence, promoting capital market globalization, and carrying out the implementation of the strategy of "One belt and One Road".

(Editor: Sui Chuan)

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