February 2009

November 2008, Mr. Xi Xiaoming, Vice Chief Justice of the Chinese Supreme Court, informed the media the Chinese Supreme Court would initiate drafting of judicial explanations complimenting the Chinese Anti-monopoly Law (AML). Before such formal expression, another Justice in the No.3 Civil Division of the Chinese Supreme Court publicly stated plaintiffs may file civil AML cases directly, bypassing the wait for administrative decisions.

Due to the characteristic of the AML, the administrative departments, other than courts, are the leading force in law enforcement. Presently, there is uncertainty in the AML administrative procedure and administrative departments take caution in announcements and practices. In such an atmosphere, Chinese courts come to the front.Continue Reading The AML sword, How Chinese Courts “hold” it ?

The Hot Issues of China Anti-trust Private Litigation-The Juridical Interpretation Issued by PRC Supreme Court and the Analysis of Anti-trust Cases came out with the issuance of the Juridical Interpretation on Application of Laws in Private Litigation Cases Arising from Monopoly Behaviors by PRC Supreme Court (the Interpretation), introducing in details the legislative purposes of…

Article 1 of the New York Convention states "this Convention shall apply to the recognition and enforcement of arbitral awards made in the territory of a State other than the State where the recognition and enforcement of such awards are sought, and arising out of differences between persons, whether physical or legal. It shall also apply to arbitral awards not considered as domestic awards in the State where their recognition and enforcement are sought."Continue Reading China and Issues surrounding international commercial arbitration and the 1958 New York Convention

The first Insurance Law in China came into force in 1995 and was amended in 2002. There have been no other additional changes or modifications to the Insurance Law. Although the Chinese Supreme Court has drafted an Explanation to the Enforcement of the Insurance Law, these rules have yet to be utilized in practice. Thus, it is clear that the rules and regulations governing insurance in China has failed to keep pace with the rapid development in the market.   Continue Reading Chinese Insurance Law Legislation needs Improvement for Adequate Governance

China has experienced unprecedented growth in the insurance field. The total amount of premiums reached 100,611,940,000 USD in 2007. The total amount of premiums reached 80,672,020,000 USD in 2006 ranking it eleventh out of all countries in the world. Moreover, the total financial holdings of insurance companies in 2007 amounted to 414,756,056,000 USD, one-third larger than total holdings in 2005. Presently, there are more than 100 insurance companies in China, and more than 3000 insurance intermediary companies which include businesses specializing in broker, agency, and loss adjuster services.Continue Reading The Chinese Insurance Market is Developing at a Rapid Pace

It is difficult to overstate the importance of concentration control regulations in the broader context of Chinese Anti-trust law as regulated by the Anti-monopoly Law of the People’s Republic of China (Anti-monopoly). No area of anti-monopoly enforcement commands closer scrutiny or arouses more impassioned debate. In fact, creating a proper definition for concentration was the most vigorously contested issue during the drafting of the new Anti-monopoly Law.Continue Reading The Concept of Concentration under Chinese Anti-trust Law