BOOK REVIEW COMPANY LAW IN CHINA Regulation of Business Organizations in a Socialist Market Economy By Jiangyu Wang ISBN: 978 1 84980 572 8 EDWARD ELGAR PUBLISHING LTD www.e-elgar.com A CRITICAL INTRODUCTION TO THE LAW OF BUSINESS ORGANISATIONS IN CHINA An appreciation by Phillip Taylor MBE and Elizabeth Taylor of Richmond Green Chambers Written with clarity and erudition, this newly published book from Edward Elgar should prove an invaluable work of reference for practitioners, academics and certainly investors interested in, or wishing to enhance their understanding of Chinese law -- company law in particular. Writing in the Foreword, Professor Tan Cheng Han of the Faculty of Law at the National University of Singapore points out, rather surprisingly, that although China is a socialist state in which all economic activities were once owned and run by the state -- and in which corporations initially did not exist, 'the corporation is (now) the dominant business vehicle in China'. It is illuminating to read or to be reminded by the author, Professor JiangYu Wang (also of the National University of Singapore) of the chain of events and processes which brought all this about and which allowed China to emerge as a major economic power in the wake of the reforms initiated by its former leader, the late Deng Xiaoping. China's unique social and political history in the context of its economic development is also discussed in detail The first chapter covers these and related points by way of introduction to the types of companies in China, before dealing with such topics as legal personality, limited liability, the formation of companies, the rights of shareholders, the fiduciary duties of directors and management and general corporate governance. Also covered are financial affairs, mergers, acquisitions and takeovers, corporate dissolution, liquidation and bankruptcy -- and of course, much more. According to Wang, the book evolved from the development of his course entitled 'Chinese Corporate and Securities Law, as well as other courses he taught at the Chinese University of Hong Kong. He and his students decided that what was needed in this complex area was a text -- in English -- that would function as 'a critical introduction to the fundamental principles and rules of China's corporate law regime' placed in the context of China's overall social and economic realities. A brilliant text it is too. 'My students, 'says Wang 'have always been the major driving force behind the writing of this book.' Wang not only covers a wide spectrum of topics pertaining to Chinese law, he also offers an interesting perspective on corporate law in general and, in the words of Han, 'the malleable nature of corporate law as it takes root in a socialist market economy'. Politicians, policy makers and economists, as well as legal practitioners might like to take note. Meticulously footnoted, the book also provides a no less than seventeen-page bibliography at the back, of references in English, plus an extensive index. What a boon to researchers in Chinese law! The publication date is 2014.

• published: 13 May 2014
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