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REGULATING THE PROCUREMENT OF STATE ENTERPRISES IN CHINA: CURRENT STATUS AND FUTURE POLICY CONSIDERATIONS
Ping Wang, Xinglin Zhang
Front. Law China. 2013, 8 (1): 1-35.
https://doi.org/10.3868/s050-002-013-0001-6
While the procurement of state enterprises is one of the most contentious issues for China’s GPA accession negotiation, the regulation on such procurement is also of concerns under domestic law. From the Chinese domestic perspective, this Article first analyses the extent to which the procurement of state enterprises is regulated by national, ministerial, as well as firm-level procurement rules. On that basis, the incentives for adopting a principled approach to regulating such procurement are explored, such as value for money, preventing corruption, and fighting against local protectionism. A brief suggestion is made regarding the consolidation of the existing rules in the context of complicated underlying institutional framework.
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AN EVALUATION OF THE CHINESE LEGAL SYSTEM ON SUSTAINABLE DEVELOPMENT
Ke Zhou, Shan Ouyang, Jiangyuan Fu
Front. Law China. 2013, 8 (1): 103-123.
https://doi.org/10.3868/s050-002-013-0004-7
The philosophy of binary purpose in conjunction with a holistic approach reflects sustainable development. These ideas are in accordance with Chinese traditional philosophy and culture, as well as the contemporary economic and social development. It calls for the central government’s support to achieve sustainable development at the initial stage. However, in the long run, this approach has drawbacks which are concealed. Thus, prompt adjustment is needed. In the relationship between the systems of sustainable development and democracy, human rights, sovereign equality of states, and sustainable development are approbated by the Chinese law system. The bottleneck of sustainable development is linked to its ideological system. Integration is related to the bottleneck of binary purposes, good governance, public participation, and human rights. The government-oriented mechanism has a time element that is related to the bottleneck of utilitarianism and basic economic law. For China’s sustainable development, breaking the bottleneck to improve the system and seizing the opportunity to make innovations are of great significance. The focal points now for China are the perfection of legislation, supervision to government, encouraging public participation and empowering them with legal rights. Chinese government is taking green economy as a new action of implementing sustainable development. It stems from both domestic and international pressures which deepen the economic reform required to switch the economic development mode. These pressures are bringing new opportunities and vigor to China’s sustainable development.
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EQUATOR PRINCIPLES AS “NORMS OF SELF-REGULATION”: GENERAL PRINCIPLES AND LEGITIMACY SOURCE
Zhiyun Liu, Luying Zheng
Front. Law China. 2013, 8 (1): 140-163.
https://doi.org/10.3868/s050-002-013-0006-1
The establishment of equator principles is a landmark in the financial market and even in the history of financial development. As their extensive application in the market of project finance, equator principles have gradually become the industrial standard and international conventions of project finance. However, compared with traditional legislations, equator principles are norms of self-regulation without the involvement of national forces, and their general principles and legitimacy source definitely break a new path. The evolution of equator principles experienced three phases: emergence, popularity and internalization, and the attribute of advocates of regulations, during which the nature of regulations and the character of financial industry played key roles. Meanwhile, factors such as “power,” mutual benefits, co-determination, effectiveness and even internalization of regulations by international financial companies, constitute the “legitimacy” source of equator principles. Besides, pointing at the defect of “norms of self-regulation,” advocates and practitioners endeavor to improve the “legitimacy” of equator principles.
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9 articles
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