| Chinese Finance Law |
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| Introduction |  |
LAW B847W Chinese Finance Law is a compulsory five-credit course in the Master of Laws in Chinese Business Law (LLM (Chinese Business Law)) programme. It takes one semester to complete the course. It gives you a thorough overview of the principles and practices of Chinese finance law, that is, the law regulating China's financial market. As the scope of finance law is wide, this course will concentrate on the topics more closely related to business application in practice, such as banking law, securities law, the law on bills of exchange, trust law and insurance law. Through this course, you will obtain a good grasp of the principles and practices of finance law in China. You are expected to be able to apply the principles of the laws to real-life cases upon completion of this course.
Purpose of this Course Guide
This Course Guide tells you briefly what the course is about and outlines the aims and learning outcomes of the course. It also gives you information about the course materials and how you can work your way through the materials. It suggests the amount of time you will need to spend to complete the course and the units. Finally, it gives you information about tutorial assistance and a general idea of when your tutor-marked assignments are due.
Course aims
The main aims of this course are to introduce the principles and practice of finance law in China. You are expected to obtain a good grasp of the key concepts and principles of the laws so that you may develop the necessary analytical skills to resolve legal issues in real-life cases.
Course learning outcomes
On completing this course, you should be able to:
Identify the features of banking law, assess the roles and functions of the central bank and commercial banks, and examine the regulatory framework for banking institutions.
Examine the features of securities law and interpret the regulatory framework for various securities activities and market players.
Examine the features of the laws on bills of exchange and analyse the legislative framework for transactions involving the use of bills of exchange.
Analyse the features of trust law, evaluate the rights and obligations of various parties to trusts and apply trust law to a business context.
- Review the features of insurance law and the characteristics of the insurance industry in China.
| Course materials | |
As LAW B847W is an online course, all the study units and most of the supplementary readings will be provided in the Online Learning Environment (OLE). You are required to have access to the Internet through a personal computer to take part in the e-learning activities.
Online study units
There are five study units in LAW B847W Chinese Finance Law. Each unit consists of approximately four weeks' worth of part-time work. The study units outline the learning outcomes of each section, summarize key issues, explain the relevant theories and practices, and comment on related readings and case studies. Each unit contains self-tests and activities to reinforce your assimilation of the issues under discussion. The following table gives you an overview of the study units and each key topic, the time taken to complete each unit, and the assignments that assess the units.
Unit
Title
Study time (weeks)
Assignment
1
Banking law
3
2
Securities law
3
TMA 1
3
Negotiable instruments
3
4
Trust law
3
5
Insurance law
4
TMA 2
Total
16
2
In addition to the online study units, you will be expected to make use of other materials from time to time as stipulated below.
Printed materials
Although you will not be provided with printed copies of the Course Guide and the five study units, you will be provided with PDF versions of the study units if you prefer a printable option.
Supplementary readings
There is no set textbook for LAW B847W.
As you study the course, you may be directed in the units to read specific pages excerpted from relevant textbooks, or other readings. Copies of the required supplementary readings will either be available online or provided as hard copies.
English-language textbooks
You may often want to refer to the following reference books, which will help you in your study, although they are not compulsory. There has been an important and most welcome increase in publications on PRC laws in the English language since China's accession to the WTO, but this has still failed to keep pace with China's rapid legal and economic development. Some of the following books provide an overview of the Chinese legal system, which are useful for students who are not familiar with it. Some of them may not be sufficiently up-to-date for the purpose of this course. You should refer to more in-depth material in leading law journals (see further below).
Ash, R F and Kueh, Y Y (eds) (1996) The Chinese Economy under Deng Xiaoping, Oxford: Clarendon Press.
CCH China Laws for Foreign Business, CCH Asia Pte Limited (loose leaf, multi-volumes).
CCH Investment in Greater China (2005) Kluwer Law International.
Chen, A H Y (1998) An Introduction to the Legal System of the PRC, 2nd edn, Hong Kong: Butterworths.
Ho, L (2003) Trust Law in China, Hong Kong: Sweet & Maxwell Asia.
Hsu, C S (ed.) (2003) Understanding China's Legal System: Essays in Honour of Jerome A. Cohen, New York: New York University Press.
Liu, C W (2008) Chinese Company and Securities Law: Investment Vehicles, Mergers and Acquisitions and Corporate Finance in China, Kluwer Law International.
Lubman, S (ed.) (1996) China's Legal Reforms, Oxford: Clarendon Paperbacks, Oxford University Press.
Ni, Y J P and Chen, P G (2005) China Taxation: Law, Practice and Planning, Hong Kong: Thomson / Sweet & Maxwell Asia.
Potter, P (2001) The Chinese Legal System: Globalisation and Local Legal Culture, London: Routedge.
Wang, G G (2003) Wang's Business Law in China, 4th edn, Hong Kong: LexisNexis Butterworths.
Wang, G G and Mo, J (1999) Chinese Law, Kluwer Law International.
Xiu, G G, Lu, G M and Tee, P S (2007) Insurance Law in China, Kluwer Law International.
Zhang, X C (ed.) (2001) Introduction to Chinese Law, Hong Kong: Sweet & Maxwell Asia.
Zhou, Z F (2007) Banking Laws in China (International Banking and Finance Law Series), Kluwer Law International.
English-language journals
Chinese Law and Government
Columbia Journal of Asian Law
China Law (http://www.cnlaw.com.hk/page1-e.htm#)
Hong Kong Law Journal
- China Law & Practice (published by Asia Law & Practice)
Chinese-language sources
Students who understand the Chinese language are encouraged to read from primary sources, e.g.:
The Gazette of the National People's Congress Standing Committee
The State Council Gazette
The Supreme People's Court Gazette
- The Supreme People's Procuracy Gazette
New legislation and other materials from primary sources are often reproduced by Fazhi Ribao (法制日報) and Renmin Ribao (人民日報).
Selected websites
Many websites contain useful materials. Among the most important sites are the following (some of them are in Chinese only).
Official websites
Central People's Government of the People's Republic of China: http://www.gov.cn
People's Bank of China 中國人民銀行: http://www.pbc.gov.cn/
Supreme People's Court of PRC 中華人民共和國最高人民法: http://www.court.gov.cn/
Supreme People's Procuratorate of China 中華人民共和國最高人民檢察院: http://www.spp.gov.cn/
China International Economic and Trade Arbitration Commission: http://www.cietac.org.cn/
China Maritime Arbitration Commission: http://www.cmac.org.cn/
General Office National Committee, Chinese People's Political Consultative Conference: http://www.cppcc.gov.cn/
Xinhua News Agency: http://www.xinhua.org/
Legal Info 中國普法網: http://www.legalinfo.gov.cn/
Ministry of Commerce of the PRC: http://www.mofcom.gov.cn
Ministry of Commerce of the PRC-Department of WTO Affairs: http://sms.mofcom.gov.cn
Bureau of Fair Trade for Imports and Exports: http://gpj.mofcom.gov.cn
Bureau of Industry Injury Investigation: http://dcj.mofcom.gov.cn
State Administration of Foreign Exchange: http://www.safe.gov.cn
China Securities Regulatory Commission 中國證券監督管理委員會: http://www.csrc.gov.cn/pub/newsite/
National Digital Library of China中國國家數字圖書館: http://www.d-library.com.cn/
Other websites
China Law.net: http://www.ceilaw.com.cn/
Chinalawinfo.com北大法律信息網: http://www.chinalawinfo.com
Isinolaw: http://www.isinolaw.com
Law-lib.com: http://www.law-lib.com
China Journal Net 中國知網: Available in the OUHK e-library.
China Judge 中國法官: http://www.china-judge.com
Tsing Hua University Library清華大圖書館: http://www.lib.tsinghua.edu.cn/
China Court: http://www.chinacourt.org/
Legal Daily 法制網: http://www.legaldaily.com.cn/
Database of Laws and Regulations: http://www.npc.gov.cn/englishnpc/Law/Frameset-page.html
China Law and Practice: http://www.chinalawandpractice.com/
Worldwide Legal Directories: http://www.hg.org/
Commercial information providers
Lexis-Nexis: http://www.lexis-nexis.com
Westlaw: http://www.westlaw.com
| Computer equipment requirements | |
To take e-learning courses, you should have the appropriate hardware, operating system and software. The following are the requirements:
Hardware and Operating System
You should have the following minimum configuration:
a personal computer with a 1GHz Intelâ Pentiumâ 4 or faster processor (or equivalent),
1 GB of system memory or above,
broadband connection to internet and Port 1935 is not blocked,
Windows Vista, 7 or a newer version of the Microsoft Windows platform, or Mac – OS X 10.8, 10.9, 10.10 and
a printer connected to your computer for printing online course content.
Hardware Requirements for Real-time Online Lectures/Tutorials
Suggested configuration
CPU
Windows OS: 1.5GHz Intelâ Pentiumâ 4 or faster processor (or equivalent)
Mac OS: 1.83-GHz Intel Core Duo or faster processorMemory
1 GB or above
Multimedia peripherals
Earphone and microphone
USB webcam (required for courses with online oral presentations)Operating system
Windows 7 or later; Mac OS X 10.8, 10.9 or 10,10
Software configuration
You should have the following software configuration to support e-learning:
Internet browser: Mozilla Firefox/ Internet Explorer 8.0 or above/ Google Chrome. If you use an older version of a browser, parts of web pages may not be displayed normally. For Macintosh users, other browsers such as Mozilla Firefox/ Google Chrome are recommended.
- Some interactive activities require the plug-in for Adobeâ Flashâ Player 13 or above. If your browser does not have the plug-in, you will see a message indicating the URL where you can install it.
Anti-virus software
Computer viruses are a serious problem. In order to protect your computer, you are advised to install suitable anti-virus software. You should also periodically get the updates for your anti-virus software. The University has included a URL on Online Learning Environment (OLE) where free anti-virus software can be downloaded.
| Course assessment | |
The formal assessment for this course consists of two tutor-marked assignments (TMAs), participation in the online discussion forum and the final examination.
Tutor marked assignments
You are required to complete two tutor-marked assignments (TMAs) and submit them to your tutor for evaluation and grading. Each assignment will be marked out of 100 marks and will assess your grasp of the materials covered in the respective units. The two assignments are weighted equally. The combined marks for the two assignments will account for 40% of the course's overall assessment.
You must use word processing software (such as Microsoft Word) to prepare the TMAs, and submit the TMAs via the Online Learning Environment (OLE). All assignments must be uploaded to the OLE by the due date.
Failure to upload a TMA in the required format to the OLE may result in the score of the TMA being adjusted to zero.
TMA submission extension policy
The assignment policy of the University as stated in the Student Handbook should be observed. You are required to submit assignments for this course in accordance with the dates communicated by your Course Coordinator. You may apply for a submission extension on the grounds of illness, accident, disability, bereavement or other compassionate circumstances.
Applications for extensions of up to seven days should be submitted to the tutor. The tutor shall consider valid and unexpected emergencies on an individual basis. Normally, documented proof of the extenuating circumstances is not required for extensions of up to seven days. The tutor shall decide and advise you of the revised date for submission.
For extensions of over seven days, you should note the following:
If you require an extension of more than seven days on the grounds of illness, accident, disability, bereavement or other compassionate circumstances, you are required to complete an 'Application Form for Assignment Extension over seven days' and submit it to the Course Coordinator.
Supporting documents must be submitted along with the application for extension of over seven days to justify the claim.
Applications for extension should normally be lodged before or on the due date.
- Applications are considered by:
- the Course Coordinator for extensions of 8 to 21 days; and
- the Dean for extensions of over 21 days.
After an assignment is submitted via the OLE, it is your responsibility to check that the assignment has been successfully submitted. Extension applications due to any problem with uploading will not be accepted. The University cannot accept any responsibility for assignments that are not received by your tutor due to any problem with submission via the OLE. As a precaution, you are advised to keep a copy of each assignment you submit.
According to the University's policy, no extension of the due date will be allowed for the final TMA. This policy will be strictly enforced. Any late submission of the final TMA will result in the score of the TMA being adjusted to zero.
Participation in the online discussion forum
You are required to take part in online discussions at least one time per unit. Apart from answering the specified questions, you are also encouraged to give replies to or comments on the opinions of other students. This will account for 10% of the course's overall assessment.
Final examination
The final examination is a closed-book written examination, which lasts for three hours. It is worth 50% of the total course grade.
Assessment summary
Assessment type
Mark
Assignments
40%
Online discussion forum
10%
Final examination
50%
Total
100%
As specified in the Student Handbook, your final result in this course depends on your performance in both the continuous assessment (TMAs) and the examination. In order to pass the course, you need to pass both the continuous assessment and the examination. For more information on the University's policies on assignments and examinations, please refer to the section 'Assignments and examinations' in the OUHK Student Handbook.
| Tutors and online support | |
Tutors
Your tutor will mark and comment on your assignments, keep a close watch on your progress, provide advice on any difficulties you might encounter, and generally assist you during the course.
You will be notified of the name and contact details of your tutor as soon as you are allocated to a tutorial group (shortly after the start of the course).
Do not hesitate to contact your tutor by telephone or email if you need help. The following might be some typical circumstances in which you would find help necessary. Contact your tutor if:
you do not understand any part of the study units or the assigned readings;
you have any difficulty with the self-tests; or
you have a question or problem with assignments, or with your tutor's comments on or grading of an assignment.
It is a good idea to keep copies of all TMAs you submit for reference during any telephone conversations with your tutor. Remember that TMAs should be submitted in accordance with the due dates indicated. Your tutor will mark and return them to you as soon as possible.
Online support
In this course, you have the opportunity to interact with tutors and fellow students via the Online Learning Environment (OLE). You will at times be referred to the course discussion board to exchange views with other students on particular issues, or you may like to post your own questions and invite feedback from others. Five real-time online lecture/tutorial sessions will also be provided via teleconferencing facilities. The tutorials are designed to help you address any problems you are experiencing with the course material and to further your understanding of the concepts discussed in the course. You are strongly advised to participate in these online sessions to enhance your understanding of the course.
| Summary | |
LAW B847W Chinese Finance Law is a one-semester, five-credit course which aims to provide a thorough overview of the principles and practice of Chinese finance law. Topics covered include banking law, securities law, bills of exchange, trust law and insurance law. Case studies and examples will be used to illustrate course concepts.
As you work through the five units of the course, you will be supported through interaction with your tutor and your coursemates through the Online Learning Environment (OLE) and through synchronous online tutorial/lecture sessions. You will be assessed on your participation on the discussion board as well as your performance in the tutor-marked assignments and the final examination.
Good luck, and enjoy the course!
| A note about the course developers | |
Walter Lee graduated from the University of Hong Kong (LLB, 1990; PCLL, 1991) and later obtained an LLM from the University of London. He has been admitted to practise as a solicitor in Hong Kong, and has also been admitted in England and Wales (non-practising). He is a partner of Gallant Y.T. Ho & Co and head of the commercial dispute resolution team. He is a Member of the Chartered Institute of Arbitrators (East Asia Branch) and a member of the Employment Law Committee of the Law Society of Hong Kong. His publications include Butterworths Conveyancing and Property Law Handbook, Butterworths Contract Law Handbook, Hong Kong Court Forms (Title V, Companies (General)) and three volumes in Annotated Ordinances of Hong Kong.
Jenny Chung graduated from the University of Hong Kong (LLB, 1990; PCLL, 1991) and later obtained an LLM from the University of Hong Kong. She has been admitted as a solicitor both in Hong Kong and also in England and Wales (non-practising). She has gained professional experience as a commercial lawyer in two leading City firms and later as an in-house lawyer. She has now ceased practice and works as a course developer for the Open University of Hong Kong.
| Deferment of studies | |
If you wish to defer your studies of this course until a later date, you should apply for deferment of studies. For the regulations governing deferment of studies, please refer to Section 14, 'Regulations for Admission, Registration and Maintenance of Status', in your Student Handbook. If you have applied for deferment of studies you should continue with your studies of this course and submit the required assignments until formal approval is given by the University. Should you have difficulties in submitting an assignment, you are advised to liaise with your Course Coordinator and apply for a TMA extension. Students who have been granted deferment of studies will not be allowed to submit TMAs due before the date that their application for deferment of studies is received by Registry.
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