Class Schedule

Professor : Zhu Weiyi

Title of the Course: A Comparative Study of China’s Securities Law

No. / Date / Class
Hour / Topic
1 / TBD / 2 / The Regulatory Regime
2 / TBD / 4 / The Definition of “Security”
3 / TBD / 4 / Investment Adviser and Funds
4 / TBD / 4 / Offering
5 / TBD / 4 / Trading
6 / TBD / 4 / Mergers and Acquisitions
7 / TBD / 4 / Corporate Governance
8 / TBD / 4 / Remedies

Short explanation of the course:

In terms of its market capitalization, the Chinese stock market, if counting only the one in the mainland, is one of the largest in the world, or the largest in the world, if combined with the one in Hong Kong. The two stock markets are closely connected, if not fully integrated yet. For one thing, many Chinese blue chip companies are listed both on the Hong Kong Stock Exchange and Shanghai Stock Exchange. Further, the investors in Hong Kong can buy shares listed on the Shanghai Stock Exchange, and investors in Shanghai can buy shares listed on the Hong Kong Stock exchange, an arrangement known as Shanghai-Hong Kong Connect. The Chinese securities market is also well-developed with most financial instruments which are also available in the United States or other jurisdictions with sophisticated securities markets. Undoubtedly, China is a leader in the securities business.

The securities market is playing an ever increasingly important role in China, and so is the PRC Securities Law. In many ways, the PRC Securities Law is at the heart of various financial laws in China, as the financial market, also known as the capital market in a dynamic sense, is fundamentally marked by business activities involving securities. For one thing, all the leading commercial banks and other important financial institutions are listed companies, some with dual listing in both Shanghai and Hong Kong.

The principles and concepts of the PRC Securities Law resemble their counterparts the United States or in Hong Kong, a result of heaving borrowing in the drafting of the law. Since their introduction, however, these principles and concepts have taken on a life of their own in their own in the Chinese context. The Course aims at narrates the underlying concerns and nuances culturally shaped.

Many ministries and government agencies cross paths with each other in regulating securities law, offering an interesting area to observe ways the different government agencies interact with each other. The Course attempts to shed light on this. The courts are important in providing remedies as well as rule-making. Cases will be discussed in class.

The Course is designed to equip the students with the essential knowledge to understand and further analyze the securities law. For this purpose, a coherent story is to be narrated about fragmentizing regulations and rules governing a deceptively complex business sector. And also for this purpose, the Course will map out the essential parts of the Chinese Securities Law and the Chinese securities market. Where appropriate, the comparative approach will be applied to illustrate the essentials common or unique to the securities markets in various jurisdictions, in the hopethat the Course will help students gain insights into the securities laws and stock markets in their respective home countries, since for the better or worse, our lives are being inescapably impacted by the securities market and securities laws.