Download or read book China s New Enterprise Bankruptcy Law A Great Leap Forward But Just How Far written by Emily Lee and published by . This book was released on 2015 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: The closure of many small and medium enterprises (“SMEs”) following the global financial crisis of 2008 spurred the Chinese government to follow its international counterparts in issuing an economic stimulus package. While it was effective in preventing many financially distressed SMEs from failure by boosting demand for its businesses, in the long run, such SMEs should be rescued through a statutory regime which affords them temporary protection from creditors and provides them an opportunity to restructure their businesses. In so doing, the premature liquidation of SMEs would be prevented and SMEs with viable businesses but in temporary financial difficulties would be given a chance to succeed again. Although China's new Enterprise Bankruptcy Law (“EBL”) has shortcomings, it improves upon its predecessor legislation and, since it is still at an infantile stage of development, is bound for further reform. Despite the EBL's success in bringing Chinese corporate bankruptcy laws in line with international standards, full compliance with the UNCITRAL Model Law on Cross-Border Insolvency and UNCITRAL Legislative Guide on Insolvency Law remains to be seen. In September 2008, the South China Morning Post newspaper reported that the number of [applications for] corporate reorganization and bankruptcy cases had dropped, “leading to widespread speculation there are problems in the law's practical application”. This article examines the implementation of the EBL, critiques key aspects of the EBL, and argues for a comprehensive assessment of the EBL and for bringing the EBL in full compliance with the international standards on cross-border insolvency.
Download or read book Resolving China s Corporate Debt Problem written by Wojciech Maliszewski and published by International Monetary Fund. This book was released on 2016-10-14 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate credit growth in China has been excessive in recent years. This credit boom is related to the large increase in investment after the Global Financial Crisis. Investment efficiency has fallen and the financial performance of corporates has deteriorated steadily, affecting asset quality in financial institutions. The corporate debt problem should be addressed urgently with a comprehensive strategy. Key elements should include identifying companies in financial difficulties, proactively recognizing losses in the financial system, burden sharing, corporate restructuring and governance reform, hardening budget constraints, and facilitating market entry. A proactive strategy would trade off short-term economic pain for larger longer-term gain.
Download or read book International Insolvency Law written by Elina Moustaira and published by Springer. This book was released on 2018-12-31 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents problems that often arise in the context of international/cross-border insolvencies; analyzes and compares national legislations and jurisprudence; elucidates the solutions offered by international/regional instruments; and explores the differences in the implementation of these instruments by various countries and the consequences of these differences. It examines in detail a number of famous and less famous cases tried by national courts, in which it became readily apparent that insolvency law remains one of the bastions of national law. In addition, the book discusses the notion of transplanting foreign [international] insolvency rules and especially the influence that US insolvency law has exerted on other countries’ insolvency [and international insolvency] law. Far from adopting an unrealistically optimistic stance, it soberly examines the complications of cross-border insolvencies, while also presenting potential solutions.
Download or read book Government Intervention in the Reorganisation of Listed Companies in China written by 趙惠妙 and published by Cambridge University Press. This book was released on 2020-01-02 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discusses the nature, extent and appropriateness of government intervention in the bankruptcy of listed companies in China.
Download or read book To Get Rich Is Glorious written by Jacques deLisle and published by Brookings Institution Press. This book was released on 2019-09-24 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: " In 1978, China launched economic reforms that have resulted in one of history’s most dramatic national transformations. The reforms removed bureaucratic obstacles to economic growth and tapped China’s immense reserves of labor and entrepreneurial talent to unleash unparalleled economic growth in the country. In the four decades since, China has become the world’s second-largest economy after the United States, and a leading force in international trade and investment. As the contributors to this volume show, China also faces daunting challenges in sustaining growth, continuing its economic ransformation, addressing the adverse consequences of economic success, and dealing with mounting suspicion from the United States and other trade and investment partners. China also confronts risks stemming from the project to expand its influence across the globe through infrastructure investments and other projects under the Belt and Road Initiative. At the same time, China’s current leader, Xi Jinping, appears determined to make his own lasting mark on the country and on China’s use of its economic clout to shape the world around it. "
Download or read book China s New Enterprise Bankruptcy Law written by Yongqian Xu and published by Routledge. This book was released on 2016-05-23 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: China has recently entered a significant stage in its economic transition with the introduction of a new and seemingly sophisticated bankruptcy law drawing inspiration from mature insolvency systems. However, this new law is likely to face significant challenges within its implementation due to weaknesses in the countries legal and social infrastructure. China's New Enterprise Bankruptcy Law clearly presents the structure of China’s reformed legal bankruptcy system by introducing the framework and analyzing typical cases which have been or are being heard since the new bankruptcy law was operational. Written by Chinese experts with a professional interest and specialist knowledge of insolvency law, this volume serves as an indispensable guide for academics and researchers in the area, as well as practitioners and professionals involved with Chinese business law.
Download or read book Making Of An Economic Superpower The Unlocking China s Secret Of Rapid Industrialization written by Yi Wen and published by World Scientific. This book was released on 2016-05-13 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: The rise of China is no doubt one of the most important events in world economic history since the Industrial Revolution. Mainstream economics, especially the institutional theory of economic development based on a dichotomy of extractive vs. inclusive political institutions, is highly inadequate in explaining China's rise. This book argues that only a radical reinterpretation of the history of the Industrial Revolution and the rise of the West (as incorrectly portrayed by the institutional theory) can fully explain China's growth miracle and why the determined rise of China is unstoppable despite its current 'backward' financial system and political institutions. Conversely, China's spectacular and rapid transformation from an impoverished agrarian society to a formidable industrial superpower sheds considerable light on the fundamental shortcomings of the institutional theory and mainstream 'blackboard' economic models, and provides more-accurate reevaluations of historical episodes such as Africa's enduring poverty trap despite radical political and economic reforms, Latin America's lost decades and frequent debt crises, 19th century Europe's great escape from the Malthusian trap, and the Industrial Revolution itself.
Download or read book Enterprise Organization and Technology in China written by Philip Scranton and published by Springer. This book was released on 2018-12-13 with total page 395 pages. Available in PDF, EPUB and Kindle. Book excerpt: Given the near-silence in technological and business history about post-World War II socialist enterprises, this book gives voice to a generation of Communist China’s managers, entrepreneurs, cadres, and workers from the Liberation to the early 1970s. Using recently-opened online archival resources, it details and assesses the course of technical and organizational experimentation at state-owned, cooperative, and private enterprises as the PRC strove to construct a socialist economy through trial-and-error initiatives. Core questions treated are: How did Chinese enterprises operate, evolve, experiment, improvise and adjust during the PRC’s first generation? What technological initiatives were crucial to these processes, necessarily developed with limited expertise and thin financial resources? How could constructing “socialism with Chinese characteristics” have helped lay foundations for the post-1980 “Chinese miracle,” as the PRC confidently entered the 21st century while Soviet and Central European socialisms crumbled? And what might current-day Western managers and entrepreneurs learn from Chinese practice and performance a half-century ago? Readers can anticipate a granular, bottom-up analysis of how businesses worked day-to-day in a planned economy, how enterprise practices and technological strategies shifted during the first postwar generation, how managers and technicians emerged after the capitalist exodus, how organizations experimented and adapted, and how the controversies and convulsions of the PRC’s early decades fashioned durable technical and organizational capabilities.
Download or read book Corporate Bankruptcy Law in China written by Natalie Mrockova and published by Bloomsbury Publishing. This book was released on 2021-01-28 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: This fascinating study uses qualitative and quantitative data and insights from interviews with judges, lawyers, government officials, entrepreneurs, bankers, consultants, and academics in China and abroad, to provide a new perspective on the problems that have hindered the implementation of the Enterprise Bankruptcy Law in China, and recent attempts at reform. The analysis provides unique insights into China's business world and its interaction with the judicial and political system in China. In addition, the book also provides important information about how the Enterprise Bankruptcy Law affects foreign companies, agencies and governments that are active in China. The author draws on empirical data, decided cases and her experience of how the law and surrounding practices deal with foreign stakeholders whose interests are affected by corporate bankruptcy in China. The book will improve understanding of how China's corporate bankruptcy law has been used in practice, what has limited its practical effectiveness, whether it is desirable for the law to be used more readily in China, and the possible options for its reform.
Download or read book A New Direction for China s Defense Industry written by Evan S. Medeiros and published by Rand Corporation. This book was released on 2005-12-19 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the early 1980s, a prominent and consistent conclusion drawn from research on China's defense-industrial complex has been that China's defense-production capabilities are rife with weaknesses and limitations. This study argues for an alternative approach: From the vantage point of 2005, it is time to shift the focus of current research to the gradual improvements in and the future potential of China's defense-industrial complex. The study found that China's defense sectors are designing and producing a wide range of increasingly advanced weapons that, in the short term, are relevant to a possible conflict over Taiwan but also to China's long-term military presence in Asia. Part of a larger RAND Project AIR FORCE study on Chinese military modernization, this study examines the current and future capabilities of China's defense industry. The goals of this study are to 1.
Download or read book Doing Business 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-21 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
Download or read book China s Economic Challenge written by Neil C. Hughes and published by M.E. Sharpe. This book was released on 2002 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title lays bare the reality behind China's efforts at economic modernization. The author examines issues such as China's WTO membership; the Three Gorges Project; the widening differences between the urban and rural areas; and the situation facing the state enterprises.
Download or read book Capitalizing China written by Joseph P. H. Fan and published by University of Chicago Press. This book was released on 2013 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: La 4e de couverture indique : "Despite a vast accumulation of private capital, China is not embracing capitalism. Deceptively familiar capitalist features disguise the profoundly unfamiliar foundations of "market socialism with Chinese characteristics." The Chinese Communist Party (CCP), by controlling the career advancement of all senior personnel in all regulatory agencies, all state-owned enterprises (SOEs), and virtually all major financial institutions state-owned enterprises (SOEs), and senior Party positions in all but the smallest non-SOE enterprises, retains sole possession of Lenin's Commanding Heights. The chapters in this volume examine China's high savings rate, banking system, financial markets, financial regulations, corporate governance, and public finances; and consider policy alternatives the CCP might consider if its goal is China's elevation into the ranks of high income countries."
Download or read book Red China s Green Revolution written by Joshua Eisenman and published by Columbia University Press. This book was released on 2018-04-24 with total page 427 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s dismantling of the Mao-era rural commune system and return to individual household farming under Deng Xiaoping has been seen as a successful turn away from a misguided social experiment and a rejection of the disastrous policies that produced widespread famine. In this revisionist study, Joshua Eisenman marshals previously inaccessible data to overturn this narrative, showing that the commune modernized agriculture, increased productivity, and spurred an agricultural green revolution that laid the foundation for China’s future rapid growth. Red China’s Green Revolution tells the story of the commune’s origins, evolution, and downfall, demonstrating its role in China’s economic ascendance. After 1970, the commune emerged as a hybrid institution, including both collective and private elements, with a high degree of local control over economic decision but almost no say over political ones. It had an integrated agricultural research and extension system that promoted agricultural modernization and collectively owned local enterprises and small factories that spread rural industrialization. The commune transmitted Mao’s collectivist ideology and enforced collective isolation so it could overwork and underpay its households. Eisenman argues that the commune was eliminated not because it was unproductive, but because it was politically undesirable: it was the post-Mao leadership led by Deng Xiaoping—not rural residents—who chose to abandon the commune in order to consolidate their control over China. Based on detailed and systematic national, provincial, and county-level data, as well as interviews with agricultural experts and former commune members, Red China’s Green Revolution is a comprehensive historical and social scientific analysis that fundamentally challenges our understanding of recent Chinese economic history.
Download or read book Micro Small and Medium Enterprise Insolvency written by Ronald Davis and published by Oxford University Press, USA. This book was released on 2018 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book reconsiders the treatment of distressed Micro, Small and Medium Enterprises (MSMEs). Recognising that insolvency systems traditionally suit larger enterprises, and that they do not always apply neatly to smaller entities, the book proposes a 'modular' approach designed to facilitate the treatment of smaller enterprises in distress.
Download or read book China s Political Economy In The Xi Jinping Epoch Domestic And Global Dimensions written by Lowell Dittmer and published by World Scientific. This book was released on 2021-03-17 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book takes a fresh look at Chinese political economy at a key inflection point. Facing a more competitive international environment, Chinese reform has shifted from its earlier focus on economic liberalization and political decentralization to a more tightly organized, centralized form of state socialism. The Party-state's vigorous fiscal reaction to the Global Financial Crisis (2008-2009) left the country with a much improved infrastructure and greater sense of national self-assurance. The more monocratic central leadership has redoubled efforts to fight poverty and pollution, push technological innovation, and at the same time rigorously enforce ideological consensus, political loyalty and anticorruption.This has been occurring in an international context of slowing trade and nationalist pushback against 'globalization', prominently including bilateral Chinese-American polarization. While China has been among the staunchest advocates and beneficiaries of globalization, incipient trade war 'decoupling' has spurred movement toward economic and technological self-reliance. Turning inward however vies with a rival impulse toward more vigorous engagement in the world. This is most consequentially represented by the Belt and Road Initiative, driving massive infrastructure construction through Central Asia and the South and Southeast Asian maritime periphery. Despite slowing growth and a large debt overhang, swift recovery from the Covid-19 epidemic leaves China in a relatively strong economic position.
Download or read book Narrating China s Governance written by Department of Commentary People's Daily and published by Springer Nature. This book was released on 2019-11-20 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book captures and elaborates on the skill of storytelling as one of the distinct leadership features of Xi Jinping, the General Secretary of the Communist Party of China and the President of the People’s Republic of China. It gathers the stories included in Xi’s speeches on various occasions, where they conveyed the essence of China’s history and culture, its reform and development, and the principles of China’s participating in global governance and cooperating with other countries to build a community of common destiny. The respective stories not only convey abstract and profound concepts of governance in comparatively straightforward language, but also create an immediate emotional connection between the narrator and the listener. In addition to the original stories, extensive additional materials are provided to convey the original context in which each was told, including when and to whom Xi told it, helping readers attain a deeper, intuitive understanding of their relevance.
