“China’s recognition and enforcement of international securities judgments towards overseas-listed Chinese language firms”
Robin Hui Huang, Weixia Gu
Journal of Worldwide Financial Regulation, Quantity 26, Challenge 3, September 2023, Pages 577–594
Revealed on-line: 26 Could 2023
Summary: Over the previous many years, a rising variety of Chinese language firms have been listed abroad, notably within the USA and Hong Kong. They’re topic to the securities regulation of itemizing locations and may be sued thereunder towards their securities misconduct. As overseas-listed Chinese language firms often have their essential belongings positioned in China, it is vital that Chinese language courts acknowledge and implement international securities judgments. Nonetheless, there are lots of difficulties on this space, which undermine the efficacy of the regulation of cross-border securities transactions. In quest of options, this text assesses the potential for suing Chinese language firms within the offshore monetary centres the place they’re integrated, discovering that there could be related points with judgment enforcement in China. It additionally examines the viability of utilizing arbitration as a substitute, arguing that arbitration could solely complement, somewhat than substituting, courtroom litigation for resolving securities disputes. China ought to take into account signing a bilateral treaty with the USA, clarifying the precept of reciprocity, and ratifying the 2005 Hague Selection of Court docket Conference and even the 2019 Hague Judgment Conference. Hong Kong can also be suggested to increase its present judgment recognition association with Mainland China to cowl securities judgments and be a part of the related worldwide conventions.
