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The Chinese Financial Conglomerate and Its Company Law Implications

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Authors
Guo, Li
Issue Date
2007
Publisher
BK 21 law
Citation
Journal of Korean Law, Vol.7 No.1, pp. 197-215
Keywords
Financial ConglomerateLegal RegulationSupervision Restructuring
Abstract
In the past decade, China took the general position of separating different

financial businesses, and putting them under segregated supervision. Nonetheless, recent amendments to the Commercial Bank Law and Securities Law seemed to open the door for financial conglomerate operations. Two models have been considered in particular, namely the “universal bank” model, prevailing in Europe, and the “financial holding company” (FHC) model in the US. Through theoretic analysis and review of the latest development, this paper suggests that at China’s current stage neither the universal bank nor the FHC model should be embraced

hastily without a critical eye. While the FHC seems a likely choice, it contains drawbacks and unfitness that merit discussion. Transforming State Owned Commercial Banks (SOCB) to public-held and truly independent entities shall certainly be a prerequisite and propellant to any meaningful structural reform, including the financial conglomerate issue.
ISSN
1598-1681
Language
English
URI
http://hdl.handle.net/10371/85129
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College of Law/Law School (법과대학/대학원)The Law Research Institute (법학연구소) Journal of Korean LawJournal of Korean Law Volume 07 Number 1/2 (2007)
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