Abstract

http://ssrn.com/abstract=2437732
 


 



Directors’ Duties in China


Guangdong Xu


China University of Political Science and Law

Tianshu Zhou


China University of Political Science and Law

Zeng Bin


China University of Political Science and Law

Shi Jin


China University of Political Science and Law

2013

(2013) 14 European Business Organization Law Review, 57-95

Abstract:     
This paper examines the development of the legal framework regarding fiduciary duties of directors in China. The concept of fiduciary duty was introduced by the 2005 revisions to China’s Corporate Law. The implementation of fiduciary duties in China has encountered considerable obstacles because of the inherent weakness of the legal system. The legal texts are simple, vague and rigid. In the enforcement process, formalized judgments have placed limitations on precedent creation, thus reducing the deterrent effect, and the judicial system has shown reluctance to intervene in matters related to directors’ duties in listed companies. There have been improvements, however. In a limited number of judicial decisions, courts have attempted to more clearly define the meaning of directors’ fiduciary duties. In the penalty decisions of the China Securities Regulatory Commission (CSRC), the duties of directors have been interpreted in a more sophisticated manner.

Number of Pages in PDF File: 39

Keywords: fiduciary duties, China, corporate law, courts, securities authorities

JEL Classification: K22

Accepted Paper Series


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Date posted: May 19, 2014  

Suggested Citation

Xu, Guangdong and Zhou, Tianshu and Bin, Zeng and Jin, Shi, Directors’ Duties in China (2013). (2013) 14 European Business Organization Law Review, 57-95. Available at SSRN: http://ssrn.com/abstract=2437732

Contact Information

Guangdong Xu
China University of Political Science and Law ( email )
No. 25 Xi Tucheng Road
Haidian District
Beijing
China
Tianshu Zhou (Contact Author)
China University of Political Science and Law ( email )
No. 25 Xi Tucheng Road
Haidian District
Beijing
China
Zeng Bin
China University of Political Science and Law ( email )
No. 25 Xi Tucheng Road
Haidian District
Beijing
China
Shi Jin
China University of Political Science and Law ( email )
No. 25 Xi Tucheng Road
Haidian District
Beijing
China
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