Abstract:
Zhongle Zhan is an Associate Professor in the Department of Law at Peking University. SJD from
Peking University School of Law.
Fengying Li works for Zhongguo Baoxian Jiandu Weiyuanhui (China Insurance Regulatory
Commission). She obtained her LLB and LLM degrees from Peking University School of Law. Translator's Note: Since its founding in 1992, the China Securities Regulatory
Commission ("CSRC") has, by the design of the central government of China, become
the primary regulator of the Chinese securities market. The CSRC has, however, made
some controversial decisions in enforcing its securities regulations. In particular, this
article addresses the legal implications of the CSRC's failure to comply with controlling
securities regulations in rejecting the Hainan Kaili Central Construction Company's
listing application and the ramifications of such selective regulatory enforcement. The
article provides an analysis of the current relationship between Chinese administrative
and securities law.
