With the growth in financial activity in and between the People's Republic of China, the Republic of China or Taiwan and the Hong Kong Special Administrative Region, an understanding of the development and status of financial law and regulation in the Chinese Economic Circle is increasingly important. This book provides an overview of the most significant areas of financial regulation in the Greater China Area, bringing together expert essays on banking, insurance, securities and general financial law in the PRC, banking and insurance in Taiwan, and financial law in Hong Kong. This work collects for the first time in a single volume the significant history and development of financial law within the Greater China Area, providing a valuable insight into the development and relationship of these three diverse but interrelated financial systems.

This book assesses new developments in and reform of China's banking law system following its accession of the WTO. It focuses on the relationship between GATS/WTO national treatment obligations and China's banking law. Tracing the history of national treatment in China, the book compares the treatment of foreign-funded banks with the treatment of Chinese-funded banks and examines the structure and shortcomings of the existing banking law framework in China. Offering suggestions as to how the framework could be restructured and analysing the economic and political bases of an integrated banking law framework, the book argues that reorganization would bring about greater consistency with GATS/WTO national treatment requirements. The book also explores the ambiguous definition of prudential carve-out, the subtle relationship between GATS national treatment and market access based on WTO cases, national treatment clauses in China’s bilateral investment treaties, and special treatment on banking in China’s free trade agreements. This volume is a valuable resource for academics and students as well as professionals and policy-makers working in the field of banking, WTO, Chinese law and foreign trade.

Whatever can be said about the financial crises that have plagued East Asian countries since the early 1990s, it must be averred that they teach us a great deal. Many earlier assumptions about finance and investment have been called into question, and the field is more open than it has been in many decades to legal and economic analysis and theory. In particular, issues of financial sector reform have come into sharp focus. Here is a new proposal, solidly grounded in current reality, for a regional "zone of law" designed to supplement and benefit domestic reforms under way in Japan and the three emerging economies of Indonesia, South Korea, and Thailand. The author draws on a wide range of relevant material, including exploration of international standards and "best practices" in banking and finance, the experience of the U.S. and the U.K. in planning and implementing reform measures, and the theoretical literature respecting financial crises and what causes them. In this context, the specific reforms applied in the four Asian countries under consideration are discussed in detail, with "lessons to be learned" about crisis detection, containment, and prevention. During the course of the analysis, the author reveals fundamental policy areas where meaningful and effective reform can take place. Financial Stability Issues: The Case of East Asia offers numerous practical applications at the same time as it strikes a rich vein of theory in the field. Its fresh, sensible approach will be greatly appreciated, not only by academic theorists, but by hardheaded business people, policymakers, and regulators as well.

The respective legal frameworks that control central banks are shaped by whether they are market oriented or government controlled. However such stark distinction between these two categories has been challenged in view of the varying styles of crisis management demonstrated by different central banks during the crisis. This book uses comparative analysis to investigate how the global financial crisis challenged the role played by central banks in maintaining financial stability. Focusing on four central banks including the US Federal Reserve System, the Bank of England, the Bank of Japan and the People's Bank of China, it illustrates the similarities between the banks prior to the crisis, and their similar policy responses in the wake of the crisis. It demonstrates how each operated with varying levels of independence while performing very differently and facing different tasks. The book identifies some central explanatory variables for this behavior, addressing the mismatch of similar risk management solutions and varying outcomes. Central Bank Regulation and The Financial Crisis: A Comparative Analysis explores the legal challenges within central bank regulation presented by the global financial crisis. It emphasizes the importance of, and the limitations involved in, legal order and argue that in spite of integration and globalization, significant differences exist in central banks' approaches to risk management and financial stability.

The Chinese (Taiwan) Yearbook of International Law and Affairs includes articles and international law materials relating to Asia-Pacific and the Republic of China on Taiwan.

This book provides unique insights into the politics of finance and the socio-political relations which drive financial policymaking in Hong kong, Singapore, and Shanghai. While the existing literature in the field focuses mainly on economic explanations for financial centre development, this book fills a gap by focusing on the socio-political relations which underpin the financial policy-making process. Drawing on extensive interviews with senior policy-makers and financial sector professionals, the book describes how state-industry relations drive financial policy-making in three major financial hubs. Insights and policy recommendations drawn from these interviews will be particularly useful for policy-makers and financial sector professionals hoping to draw lessons from the successful development of the three leading Asian financial centres. Business and Politics in Asia's Key Financial Centres draws on public policy theoretical frameworks for its analytical basis. The three chapters focusing on the historical development of Hong Kong, Singapore, and Shanghai also provide a consolidated narrative with regard to the development of these three cities as leading financial centres, while also serving as independent case studies. Scholars focusing on policy processes and political factors that underpin financial sector development, as well as instructors and students of public policy, international political economy, and financial sector policy, will find this book useful for their research.

This work offers a comprehensive examination of the development and structure of the provisions for the control of international financial markets. It explores the background to the major financial crises of the late 20th-century and the nature of the global response.