Governing Financial Disputes in China: What Have We Learned from the Global Financial Crisis of 2008?

University of Pennsylvania East Asia Law Review, Vol. 7, p. 195, 2011

26 Pages Posted: 4 Sep 2012

See all articles by (Robin) Hui Huang

(Robin) Hui Huang

Chinese University of Hong Kong - Faculty of Law; 华东政法大学(East China University of Political Sicence and Law); University of New South Wales - Faculty of Law

Shahla F. Ali

The University of Hong Kong - Faculty of Law

Date Written: December 6, 2011

Abstract

In light of the recent global financial crisis of 2008, this article critically compares how China’s national arbitration commissions and local courts are responding to new challenges brought about by an increase in the number of banking related disputes. Drawing on comparative case analysis, the article examines the operation of the China International Economic and Trade Arbitration Commission (CIETAC) and the Shanghai Courts’ financial dispute resolution mechanisms in resolving financial disputes. Drawing on insights from selected case findings, it provides insight into which institution is best positioned to handle financial-related cases, discusses prospects for coordination between the two, and sets out proposals for further reform. Initial findings suggest that given CIETAC’s limited exposure to banking and financial sector disputes, in the immediate term parties should seek resolution through local financial division dispute resolution mechanisms, such as the financial division of the Shanghai Courts. In the long term, prospects for greater strengthening of national mechanisms such as CIETAC and the Securities Dispute Resolution scheme will provide additional avenues of recourse.

Keywords: Financial Crisis, Dispute Resolution, Financial Regulation, Chinese Law, Comparative Study

JEL Classification: G10, K22, K41

Suggested Citation

Huang, (Robin) Hui and Ali, Shahla F., Governing Financial Disputes in China: What Have We Learned from the Global Financial Crisis of 2008? (December 6, 2011). University of Pennsylvania East Asia Law Review, Vol. 7, p. 195, 2011, Available at SSRN: https://ssrn.com/abstract=2140639

(Robin) Hui Huang (Contact Author)

Chinese University of Hong Kong - Faculty of Law ( email )

Shatin, New Territories
Hong Kong
852-39431805 (Phone)
852-29942505 (Fax)

HOME PAGE: http://www.law.cuhk.edu.hk/people/huang-hui-robin.php

华东政法大学(East China University of Political Sicence and Law) ( email )

1575 Wanhangdu Rd.
Changning, Shanghai 200042
China

University of New South Wales - Faculty of Law ( email )

Sydney, New South Wales 2052
Australia
61-2-9385 9649 (Phone)
61-2-9385 1175 (Fax)

Shahla F. Ali

The University of Hong Kong - Faculty of Law ( email )

Chung Yu Tung Tower (Law), Centennial Campus
Pokfulam Road
Hong Kong
(852) 3917 2931 (Phone)
(852) 2559-3543 (Fax)

HOME PAGE: http://www.hku.hk/law/faculty/staff/ali_shahla.html

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