With ever-globalizing capital markets, and particularly in the aftermath of the Global Financial Crisis in 2008-9, the enforcement of corporate law and securities law – domestically and transnationally -- has garnered significant attention worldwide.  
That attention has long been present in the reform-era People’s Republic of China (PRC), with its distinctive political economy, reconstructed legal and regulatory system, and uniquely successful development model.  In the PRC, public and private enforcement of corporate governance and capital markets norms impact directly on areas of critical import, including:

  • economic reform and the efficient allocation of capital in the world’s second largest economy;
  • the corporate governance and market norms visited upon the world’s largest issuers (including firms operating at the heights of a much-discussed “state capitalism” model);
  • the power of China’s strongest political economic actors;
  • the development of transparent, fair and ultimately efficient domestic Chinese capital markets;
  • the reception of a new – and largely externally-inspired -- legal and regulatory system;
  • a vibrant sector of economic interaction between China and the rest of the world; and
  • the form and function of China’s law and legal institutions – from courts to the private bar.

To examine these important issues, Chinese University of Hong Kong Faculty of Law (via the Centre for Financial Regulation and Economic Development (CFRED)), the University of Michigan Law School, and the Lieberthal Rogel Center for Chinese Studies at the University of Michigan will jointly  hold a conference on “Public and Private Enforcement of Corporate and Securities Law – China and the World” in Hong Kong on December 13-14, 2014. Our shared vision for the conference is to bring together the top academics and state officials from China and across the world to engage in a truly comparative discourse about public and private enforcement of these critically important norms in different national jurisdictions and across borders. Conference speakers will address related issues in a specific jurisdiction or issue area, so that PRC specialist participants can explore how these issues are considered abroad, and non-PRC specialist academics can gain greater insight into similar developments in China. Rather than celebrating the fact or possibility of convergence, we aim to understand ongoing divergence, and the reasons for it, even in the embrace of increasingly globalized capital markets.