Research on a Pure Economic Loss Compensation System

Author: Li Hao
Publisher:
Publish Date: 2004-07-01
Features: Pure economic loss is not an unfamiliar concept in an increasingly marketized China. The rapid expansion of the market and the growing closeness of economic interactions make pure economic loss so frequent and substantial in daily life. It can even trigger chain reactions with severe consequences, making its existence undeniable. Therefore, we should design reasonable institutional frameworks to protect the numerous victims. However, precisely because it occurs so frequently, the intense chain reactions it causes also make it impossible for us not to impose constraints and restrictions, defining certain compensation limits to prevent the unlimited expansion of liability for damages and the rampant increase in litigation. This book attempts to start from the conceptual foundation of pure economic loss, grounded in China's existing legal system, to provide a preliminary panoramic description of the issue of compensating for pure economic loss. It aims to identify potential loopholes and shortcomings in the law and propose feasible solutions.