GUEST LECTURE BY PROF. XI CHAO ON SECURITIES REGULATION IN CHINA

On 21 August 2017, the Finnish China Law Center hosted a guest lecture by Professor Xi Chao, Vice-Dean and Vice Chancellor’s Outstanding Fellow of the Faculty of Law, The Chinese University of Hong Kong.

The lecture, titled ‘Biased Securities Regulators? Evidence from China’, was introduced by Professor Ulla Liukkunen, Director of the Finnish China Law Center.

Prof. Xi Chao, Vice-Dean of the Faculty of Law at The Chinese University of Hong Kong, discussing his research on Chinese securities regulators.

In his presentation, Prof. Xi discussed the much-debated question of whether securities regulators are sensitive to considerations that extend beyond the ‘mere merits’ of a case. While this question has received attention in the United States, little is known about the determinants of enforcement actions taken by regulators of Chinese securities markets.

Why is this important? Among other reasons, because the Chinese securities market is the second largest in the world.

During a stimulating presentation and discussion, Prof. Xi discussed his empirical research that involved manually collecting a new dataset on all so-called ‘disclosed’ securities enforcement actions, both formal and informal, taken against securities violations by Chinese securities regulators between 1998 -2016.

Prof. Xi’s research demonstrates that larger Chinese firms, those controlled by the state, those that are more politically embedded, and firms that cooperate more closely with securities regulators, are less likely to be targeted by regulatory enforcement actions. In addition, when these types of firms are targeted, they are more likely to fare better.

On the other hand, Prof. Xi’s research revealed what he considered a ‘counter-intuitive finding’: that closer personal bonds between people working in Chinese firms and securities regulators are likely to reduce the severity of enforcement actions, but are unlikely to minimize the likelihood of being targeted in the first place.

During his visit to Finland, Professor Chao also taught in the University of Helsinki Summer School Course, ‘Law and Society in China‘, coordinated and taught by the Finnish China Law Center’s postdoctoral researcher Dr. Yihong Zhang.

UPCOMING GUEST LECTURE: SECURITIES REGULATION IN CHINA, PROF. XI CHAO, 21 AUGUST 2017

The Finnish Center of Chinese Law and Chinese Legal Culture and Faculty of Law, University of Helsinki are pleased to announce a guest lecture by Professor Xi Chao, Vice-Dean of the Faculty of Law, Chinese University of Hong Kong:

‘Biased Securities Regulators? Evidence from China’

TIME: 2 – 4pm, Monday August 21

PLACE: Law Faculty Meeting Room (P545), 5th floor of the Porthania Building (Yliopistonkatu 3, Helsinki).

The event is free of charge, open to everyone and no registration is needed.

Lecture overview

In the aftermath of the Global Financial Crisis, a much debated topic in the academic and policy discourse on securities regulation is whether securities regulators are sensitive to considerations beyond just the merits of the case. While the literature is growing in regard to securities enforcement in the United States, little is known as of yet about the determinants of enforcement actions taken by the primary regulators of the Chinese securities markets, the second largest in the world. This research draws on a unique, hand-collected dataset on all disclosed securities enforcement actions, both formal and informal, taken against securities violations by the Chinese securities regulators during the period from 1998 through 2016. It offers a glimpse into the intensity of securities enforcement actions, both market-level and firm-level, in China. It also sheds important light on the determinants of Chinese securities enforcement practices. It shows empirically that firms that are larger in size, firms that are controlled by the state, and firms that characterize with a higher level of political embeddedness, and firms that cooperate more closely with the securities regulators are less likely to be targeted and, when they are targeted, they are more likely to fare better. A somewhat counter-intuitive finding of this research is that a closer personal bond with the securities regulators are likely to reduce the severity of enforcement actions, but are unlikely to minimize the likelihood of being targeted in the first place.

This research has been supported by a General Research Fund (CUHK-452913) from the Hong Kong SAR Research Grants Council.

Biography of Professor Xi

Dr Xi is Professor and Vice Chancellor’s Outstanding Fellow of the Faculty of Law, The Chinese University of Hong Kong (CUHK). He specializes in comparative corporate law, securities regulation, and financial regulation, and has published extensively in leading peer-reviewed international journals. He is Professorial Research Associate of the SOAS China Institute, University of London, and a Board Member of the European China Law Studies Association.

Further information

For questions about this, and other events organized or facilitated by the Finnish Center of Chinese Law and Chinese Legal Culture, please contact Center Coordinator Stuart Mooney (stuart.mooney (at) helsinki.fi).

8th Sino-Finnish Bilateral Seminar on Comparative Law: 28-29 August (Helsinki and Tampere)

The Finnish Center of Chinese Law and Legal Culture, the University of Helsinki and the University of Tampere are proud to announce that the 8th Sino-Finnish Bilateral Seminar on Comparative Law will be held in Helsinki and Tampere on 28-29 August 2017.

The seminar brings together senior academics from China and Finland to discuss current legal issues. It is held once a year and the location alternates between China and Finland.

Day 1 of the seminar will begin with registration between 8:30–9:15 at the University of Helsinki (Hall 1, Metsätalo, Unioninkatu 40, Helsinki).

Day 2 of the seminar will be held in Tampere, and will begin with registration between 9:30–10:00 at the University of Tampere (Arvo Hall F025 (“Yellow Hall”), Arvo Ylpön Katu 34, Tampere). The precise location of the venue can also be found in this Tampere University campus map (‘Arvo-Rakennus, building number 8’).

The full program (pdf) of the event is as follows:

Monday, 28 August 2017

University of Helsinki

Hall 1, Metsätalo, Unioninkatu 40, Helsinki

8:30–9:15      Registration

9:15–9:45      Opening Ceremony

Professor Kimmo Nuotio, Dean of the University of Helsinki Faculty of Law, Chair of the Board of the China Law Center

Professor Li Lin, Director of Institute of Law, CASS

Professor Ulla Liukkunen, University of Helsinki, Director of the China Law Center

9:45–11:30    Session I: Developments in Child Law

Chairs:
Associate Professor Wang Xiaomei, Institute of Law, CASS
Post-Doctoral Researcher Dr. Guilherme Vasconcelos Vilaca, University of Helsinki

Associate Professor Suvianna Hakalehto, University of Eastern Finland: Children’s Rights at School in the Nordic Countries

Professor Xie Zengyi, Institute of Law, CASS: How to Respond to the Two Child Policy – From the Perspective of Labor and Social Security Law

Commentator: University Lecturer Dr. Niina Mäntylä, University of Vaasa

Discussion

11:30–13:00  Lunch

13:00–14:30  Session II: Recent Developments in Transport Law

Chairs:
Professor Xie Zengyi, Institute of Law, CASS
Professor Pia Letto-Vanamo, University of Helsinki

Professor Ellen Eftestöl-Wilhelmsson, University of Helsinki: A Sustainable Transport Industry – the Role of Environmental Information

Associate Professor Li Zhong, Institute of Law, CASS: Recent Developments in Transport Law in China

Commentator: Professor Lena Sisula-Tulokas, University of Helsinki

Discussion

14:30–15:00    Tea and coffee

15:00–16:30    Session III: Public Procurement

Chairs:
Professor Li Honglei, Institute of Law, CASS
Professor Juha Raitio, University of Helsinki

University Lecturer Dr Kristian Siikavirta, University of Vaasa: European and Finnish Public Procurement System and Experience

Associate Professor Wang Xiaomei, Institute of Law, CASS: Empirical Study on Transparency in Public Procurement in China: Institution, Current Situation and Prospects

Commentator: Post-Doctoral Researcher Dr. Zhang Yihong, University of Helsinki

Discussion

16:30             Closing of the first day



Tuesday, 29 August 2017

University of Tampere

Arvo Hall F025 (“Yellow Hall”), Arvo Ylpön Katu 34, Tampere

9:30–10:00    Registration

10:00–10:15  Opening of the second day

Professor Li Lin, Director of Institute of Law, CASS

Professor Antti Lönnqvist, Dean of the Faculty of Management, University of Tampere

10:15–11:30  Session IV: Developments of Environmental Law

Chairs:
Associate Professor Jin Shanming, Institute of Law, CASS
University Lecturer Dr. Matti Urpilainen, University of Tampere

Professor Antti Belinskij, University of Eastern Finland: International Water Conventions and Finnish-Russian Cooperation

Professor Li Honglei, Institute of Law, CASS: Judicial Review of Environmental Impact Assessment Decision-making in China

Commentator: Senior Researcher Dr. Yulia Yamineva, University of Eastern Finland

Discussion

11:30–12:45   Lunch

12:45–14:30  Session V: Environmental Rights in the Constitution

Chairs:
Professor Ida Koivisto, University of Tampere
Associate Professor Li Zhong, Institute of Law, CASS

Adjunct Professor and University Lecturer Jukka Viljanen, University of Tampere: The Environmental Constitutional Right in Finland: Achievements, Problems and Prospects

Associate Professor Jin Shanming, Institute of Law, CASS: The Constitutional Protection of Environmental Right and its Reflections in China

University Teacher Heta Heiskanen, University of Tampere: International Human Rights Obligations Contributing to Finnish Environmental Rights

Commentator: Post-Doctoral Researcher Sanna Kopra, University of Lapland

Discussion

14:30–15:00   Tea and coffee

15:00–16:00 Closing Ceremony

Professor Li Lin, Director of Institute of Law, CASS

Professor Ulla Liukkunen, University of Helsinki, Director of the China Law Center

Adjunct Professor and University Lecturer Jukka Viljanen, University of Tampere

End of seminar.

Forthcoming lectures on Chinese Social Order and System of Law by Prof. Liu Zuoxiang, Shanghai Normal University, on May 17 and 30, 2017.

 

Welcome to the lectures by Professor, Liu Zuoxiang.

Professor Liu Zuoxiang is the Director of the Institute of Rule of Law and Human Rights, Shanghai Normal University, College of Philosophy, Law and Political Sciences. He is also the Vice director of Jurisprudence Institute of Chinese Law Society; Member of branch of Chinese IVR .

 

Chinese Structure of Social Order in a Period of Transformation 

Time: 17th May 2017 at 2.15 pm-3.45 pm

Venue: Porthania Building, University of Helsinki, fifth floor, room P 545

Discussant:

Kangle Zhang, Research Fellow, Erik Castrén Institute

Guilherme Vasconcelos Vilaca, Postdoctoral Researcher, Erik Castrén Institute

After China advanced in 1996 the strategy of the rule of the country entitled “administering the country according to law and constructing a socialist country under the rule of law”, which was officially confirmed by the constitutional amendment in 1999, the issue of what kind of social order and structure pattern the Chinese society should undertake became a focus of academic debate in China for some time. Chinese scholars from the discipline of anthropology, sociology, cultural studies and legal studies have challenged the orthodoxy theory of rule of law in China. Professor Liu Zuoxiang’s talk on the “Chinese Structure of Social Order in a Period of Transformation” will discuss the disciplinary perspectives, their differences, and varying conceptions of the contemporary Chinese social order. Afterwards, Professor Liu Zuoxiang will introduce his research on the topic, focusing on the following issues:

Ⅰ. Rule of Li Order—Main Characteristics of the Traditional Chinese Social Order Structure

Ⅱ. Pluralistically Mixed Order—Main Characteristics of the Chinese Social Order Structure in the Period of transformation

Ⅲ. Chinese Scholars’ Views on State Law and Non-governmental Law

  1. How to treat the rural society in contemporary China: reality uncovered by a case study
  2. The focus of issues and conclusion

 

 

The Relationship between the Party Regulations and National Laws

Time: 30th may 2017 at 13.15 pm-14.45 pm

Venue: Porthania Building, University of Helsinki, fifth floor, room P 545

Discussant:

Kangle Zhang, Research Fellow, Erik Castrén Institute

In recent years, there is a new research focus in Chinese law field, along with some theoretical confusion: Party Regulations and National Laws. Such confusions are mainly manifested in the viewpoints of some Chinese scholars. Some scholars hold that the party constitution, the party rules and regulations should be considered as an integral part of law, the party constitution is the “unwritten constitution” of China, and the party regulations have been playing the role of law in effect.  There are also scholars who proposed that the party rules itself is already a constituent part of law.  So whether there is a boundary between the party regulations and national law or not?

While a lot of debates has centered on whether the party regulations have legal attributes, the fourth plenary session of the 18th Communist Party of China (CPC) Central Committee did not adopt this proposition. The session put forward that the general target of comprehensively implementing the fundamental principle of the rule of law is to “form the socialist system of laws with Chinese Characteristics and build a socialist country under the rule of law”.  The “socialist system of laws with Chinese Characteristics” is distributed into five aspects as following: “form a complete system of laws and regulations, a highly effective system to ensure the rule of law is put into effect, a stringent system to oversee the implementation of the rule of law, and a robust system to guarantee the rule of law; put in place a well-defined system of Party rules and regulations.”  It can be seen from these five systems that the first one is the system of laws and regulations and the fifth is the system of Party rules and regulations. This illustrates the fourth plenary session did not agree to regard the party rules as a part of the system of laws and regulations.  There is no need to describe them separately if the party regulations are seen as the component part of law.  However, the decision of the fourth plenary session did not patch up these arguments, the proposition about “the legal nature of party rules” is still in dispute.  Especially after the party regulations were brought into the system of the rule of law, some scholars simply think that the party rules are a constituent part of law.

Professor Liu Zuoxiang will introduce his research on the relationship between the Party Regulations and National Laws.

 

Lecture at Hanken School of Economics by Visiting Researcher, Prof. Dr. Liu Jieming from Wuhan University of Technology

Prof. Dr. Jieming Liu, Vice Dean of the School of Humanity and Law of Wuhan University of Technology(WUT), and Deputy Director of  Hubei Intellectual Property Right (IPR) Research Center and WUT IPR Research Center, held a specialist lecture at Hanken School of Economics, one of the Finnish China Law Center’s Member Institutions, on June 6, 2016. Prof. Dr. Jieming Liu is a Chinese National IPR Specialist and Chinese National Leading Talent of Patent Information. He started his IPR related research and teaching in 2005, and has gained since extensive experience in the field of IPR, especially in the IPR law and policy, and IPR management of enterprises.

 

 

 

 

Prof. Dr. Jieming Liu’s lecture covered current laws and policies on patent implementation, license and transfer in China. He underlined that China has taken an active approach to IPR questions. Prof. Dr. Jieming Liu noted that China’s IP system continues to evolve. More attention is paid to emerging practical problems. Prof. Dr. Jieming Liu brought up the broad prospects the development of IP and IP service industry in China have. He noted that the patent transformation and operation continue to develop rapidly. A particular focus of the lecture was on the 4th Amendment to the Patent Law of the People’s Republic of China  (not yet in force) and the Amendment of the Law of the People’s Republic of China on Promoting the Transformation of Scientific and Technological Amendment (Amendment of 2015).

 

 

 

 

During his visit in Finland, Prof. Dr. Jieming Liu completed and published his monograph “Conflicts and Coordination Mechanisms of Intellectual Property among Supply Chain Enterprises 《供应链企业知识产权冲突与协调机制研究》”.

 

For more information about the book, please contact, Vice Dean, Associate Professor Liu Jieming, locus2003 (at) hotmail.com.

 

Lecture on the developments in Chinese criminal law by Prof. Dr. Renwen Liu (CASS), February 15, 2017.

After the inspiring lecture, Prof. Liu presented extended answers.

Prof. Dr. Renwen Liu, Director of the Criminal Law Department of the Chinese Academy of Social Sciences, held a fascinating specialist lecture at the Finnish China Law Center on February 15. The presentation covered many current issues in criminal law from the Chinese perspective, including developments in death penalty regulations, food security, cybercrime and environmental protection.

 

The enthusiastic audience included academics, representatives of both courts and ministries as well as students.

The burning question of death penalty was discussed in great detail. Prof. Liu pointed out that the number of death penalty crimes has been notably reduced. Amendments in law as well as changes in the attitudes of adjudicators has led to a more lenient criminal policy. For instance, in the past decade the number of annual death sentences has been reduced by half. According to Prof. Liu, in the future this form of punishment will be limited even further to only severe criminals convicted for the crime of murder.

The lecture also dealt with the changes in anticorruption law. Prof. Liu introduced the newly established life imprisonment system for corrupt officials. The system excludes the possibility to commute the sentence and denies the possibility of parole. Prof. Liu specified that the system was created in response to public opinion. Formerly high ranking officials have often been released illegally back into the community, causing discontent amongst the population. The new model of life imprisonment mitigates this problem. On the other hand, Prof. Liu mentioned that the corruption threshold was increased from 5,000 CNY (approx. 680 euros) to 30,000 CNY (approx. 4,100 euros). This amendment has faced criticism as it contradicts with China’s zero-tolerance policy towards corruption.

In addition, the issues of terrorism and cybercrime as well as environmental pollution and food and drug safety were discussed during the presentation. The overall view was that Chinese criminal law was becoming more gentle and humane, and the threshold for the definition of crime against the environment has come down.

 

Posing for a photo. The President of the Supreme Court, Mr Timo Esko with Prof. Dr. Renwen Liu.

 

After the inspiring lecture by Prof. Liu, a variety of good questions were posed, and Prof. Liu presented extended answers. During the discussion, similarities between the Chinese and Finnish criminal laws were examined. For instance, the challenges of the impact of public opinion on criminal justice policy in the era of populism were explored. The enthusiastic audience included academics, representatives of both courts and ministries as well as students.

Happy Chinese New Year 2017!

Chinese drum dance in Helsinki. Picture taken from the Chinese New Year Event for Children organized by International Cultural Center Caisa. The Chinese New Year Event for Children was a side event of Chinese New Year Festival organized by the cities of Helsinki and Beijing. (27.1.2017)

 

The Finnish China Law Center wishes you a Prosperous and Happy Chinese New Year 2017, the Year of the Rooster!

 

祝大家在鸡年大吉大利!

身体健康,事业有成!

幸福快乐,万事大吉!

 

Chinese drum dance from the Chinese New Year Event for Children organized by International Cultural Center Caisa (27.1.2017).

Making a rooster ice sculpture on Keskuskatu street. Chinese New Year Festival organized by the cities of Helsinki and Beijing (27.1.2017).

The Chinese Moomins from the Chinese New Year Event for Children organized by International Cultural Center Caisa (27.1.2017).

Kungfu from the Chinese New Year Event for Children organized by International Cultural Center Caisa (27.1.2017).

Lions from the Chinese New Year Event for Children organized by International Cultural Center Caisa (27.1.2017).

Kungfu from the Chinese New Year Event for Children organized by International Cultural Center Caisa (27.1.2017).

 

 

Aalto University partners with Tongji University to start a new college, Shanghai D&I

It is official: Shanghai D&I is launched!
It is official: Shanghai D&I is launched!

Aalto University and Tongji University have signed an agreement to establish a new college, Shanghai International College of Design and Innovation (Shanghai D&I). This college will start operating in fall 2017.

Shanghai D&I forms a part of the Tongji University, with which Aalto University has closely cooperated for several years. Already in May 2010, the partners joined forces and opened the Aalto-Tongji Design Factory at the Tongji Campus which now operates as Sino-Finnish Center. Tongji University is among China’s 15 best universities and the leading one, for instance, in the field of architecture as well as and urban and regional planning.

Aalto University President Tuula Teeri and Dean Lou Yongqi of Tongji University College of Design and Innovation.
Aalto University President Tuula Teeri and Dean Lou Yongqi of Tongji University College of Design and Innovation.

Shanghai D&I in making.
Shanghai D&I in making.

Aalto University and Tongji University have been developing a curriculum based on Aalto’s current high-quality master programmes. These programmes will include International Design Business Management, Creative Sustainability, Collaborative and Industrial Design and Aaltonaut, a multidisciplinary minor subject. Aalto University will produce approximately one-third of Shanghai D&I’s teaching content. Turkka Keinonen, Head of Aalto University Department of Design, notes that the intention is to expand the cooperation later also to research in addition to teaching.

Student Representatives from Tongji and Aalto host the Launch of Shanghai D&I.
Student Representatives from Tongji and Aalto host the Launch of Shanghai D&I.

Tuula Teeri addresses the audience.
Tuula Teeri addresses the audience.

According to Tuula Teeri, President of Aalto University the new college will bring along better opportunities for international cooperation for the Aalto University students and staff. The goals of Shanghai D&I are set high. It aspires to become the centre of design and innovation. Professor Lou Yongqi, Dean of Shanghai D&I emphasizes Shanghai’s potential as a laboratory for new models of higher education in the field of design and innovation.

See the news on Aalto University’s website for further information.

Welcome to a Doctoral Defense at the University of Lapland (25.11.2016)

hattujamiekka15The Faculty of Law, University of Lapland warmly welcomes to participate in Jyrki Kallio’s Doctoral Defense:

“Towards China’s Strategic Narrative: on the construction of the historico-cultural roots of China’s national identity in the light of the Chinese debate relating to the rise of traditional school of thought”

The opponent will be Professor Ralph Weber from the University of Basel and the kustos is Professor Matti Nojonen from the University of Lapland.

The defense will take place on 25 November 2016, starting from 12:00 (noon) in the Castren-sali, lecture room 11.

 

Members of the European China Law Studies Association gathered in Rome for the 11th Annual Conference

duelogo

The 11th Annual General Conference of the European China Law Studies Association (ECLS) was held at the Faculty of Law of the Roma TRE University in Rome, Italy, from 22 to 24 September 2016. The Conference has attracted more than 120 participants from different corners of the world. Twenty parallel panels were organized and more than six presentations were arranged at the conference.

The main theme of this year’s conference focused on the rule of law, legal reform, foreign investment and human rights development in China. In the keynote speech, Rector of the University of Turin, Professor Giammaria Ajani, gave an introduction of the development of Chinese law study Italy. As the business connection between Italy and China increases, there have been more and more China-related teaching and research activities and cooperation between Italian and Chinese educational institutions. Professor Ajani also discussed the future of China’s rule-of-law development within the context of current political environment. While there has been some roll-back on Chinese legal reform, Professor Ajani has noted some signs of positive development, especially in capital market regulation.

Director of the Finnish China Law Center, Professor Ulla Liukkunen and postdoc researcher Zhang Yihong attended the conference and exchanged ideas with conference participants.

 

Professor Ignazio Castellucci gave us insights on the Rule of Law with Chinese Characteristics

IMG_0286

 

Professor Ignazio Castellucci (University of Trento) gave a guest lecture on the “Rule of Law with Chinese Characteristics” on Wednesday, 11 May 2016.

 

The presentation revolved around the Chinese relation with the law as a tool of governance in present-day People’s Republic of China. The current Chinese concept of fă zhì (法治), which could roughly be translated as rule of law or rule by law, is a fluid one indeed, being affected by Chinese elements such as the Chinese legal history, Confucianism and elements of the Chinese-socialist concept of ‘rule of law’’. The lecture provided the students with very valuable insights on the theoretical and historical foundations of Chinese law.

The Center’s Guest Lecture Series receives scholars from China and other countries to present the recent developments in specific fields of Chinese law or their research related to Chinese law and Chinese legal culture. The purpose of this series is to keep all interested well informed about the transformations within Chinese law as well as bring awareness of the research focus among China Law scholars. Moreover, the guest lecture series aims to facilitate a cross-border exchange of ideas and promote legal comparison.