Research on EU Securities Law

Author: Wu Yue
Publisher:
Publish Date: 2005-10-01
Features: The Institute of EU Law at Southwest University of Political Science and Law was established in June 2004, with its predecessor being the Center for German Law Research at Southwest University of Political Science and Law, founded in October 2000. The founder and current Director of the Institute, Wu Yue, is a Ph.D. in Law from the University of Frankfurt, Germany (1998-2002), and is currently a Professor, Doctoral Supervisor, and Editor-in-Chief of the "Translation Series of German Legal Textbooks" at Southwest University of Political Science and Law, as well as the Editor-in-Chief of the "China-EU Legal Research Series." Since the establishment of the European Community, Europe has been divided into a broad and narrow sense. The narrow sense of Europe is actually the EC (European Community), while the EU (European Union) has a trend to replace the EC. The establishment of the EU has greatly promoted the unification of Europe, and this process of unification is far from complete, as evidenced by its expansion from Western Europe to Central and Eastern Europe. As the largest economic and political entity today, the EU aims for the ultimate goal of achieving a common market and political unification, while also serving as a vital pole in maintaining world peace. In the international political and economic landscape where economic globalization and diversification coexist, for any country or international organization, paying attention to and researching the EU holds strategic significance. A key component of such strategic research is the exploration of EU and its member states' laws, as the unification of the EU has been gradually realized through international treaties and the EU's own legislation. From the perspective of international law, the EU remains, in nature, an international organization. However, the national unification and integration achieved by the EU are unparalleled by any other international organization. The EU not only established three communities—the Economic Community, the Steel and Coal Community, and the Atomic Energy Community—but also formed a unified monetary system. Moreover, its member states have common foreign policies in areas such as foreign affairs and security, law enforcement, and judicial cooperation. These three communities and the two common foreign policies constitute the EU's "Five Pillars." Furthermore, the EU enjoys its own legislative authority and judicial authority, symbolized by the European Court of Justice. It is clear that the EU is a true "Super International Organization."
As a distinct legal discipline, EU law has become a compulsory course for law students in member states. According to EU treaties, the EU's own legislation is primarily divided into two forms: regulations and directives. Regulations (Regulation) take effect directly in member states without the need for them to be transposed into domestic law. Due to the significant differences in laws, especially in private law, among member states, if only a minimal level of coordination can be achieved, the EU generally adopts the form of directives (Directive). Member states must transpose EU directives into domestic law within the specified timeframe, which allows the laws of different member states to maintain a certain degree of commonality while retaining some diversity. From these regulations and directives, other countries can discern trends in legal development, not only because the EU member states include both civil law and common law countries but also because they are all developed countries with long-standing legal traditions. The coordination and development of laws between the EU and its member states to some extent represent the trends of global legal development. Researching EU law not only holds significance in international law but also serves as a valuable reference for improving the rule of law in one's own country.
We have noted that Chinese civil and commercial law, criminal law, economic law, social law, environmental protection law, and procedural law have all been positively influenced to varying degrees by EU law. Additionally, with China's peaceful rise, the EU has become increasingly concerned with the development of Chinese law. Both China and the EU play important roles on the international economic and political stage. In the context of a diversified international landscape, China and the EU have engaged in comprehensive cooperation, and their strategic partnership is becoming increasingly clear. The launch of the China-EU cooperation projects is a testament to this positive interaction. As a sub-project of these initiatives, the China-EU Legal and Judicial Cooperation Project has undoubtedly bridged the legal and cultural exchange between the two. Under the guidance of the China-EU Legal and Judicial Cooperation Project, Southwest University of Political Science and Law is dedicated to comparative research and translation between EU and Chinese law. For this, we are deeply grateful to the China-EU Legal and Judicial Cooperation Project Management Office, particularly to the EU Director, Mr. Stephan Forbes, the Chinese Director, Ms. Zhao Linna, and the supporting partner, Legal Press. We also commend the highly effective coordination efforts of Professor Wu Yue, Editor-in-Chief of the series and Director of the Institute of EU Law, for her fruitful work.
Finally, we wish to see the publication of the "China-EU Legal Research Series" contribute to promoting legal exchange between China and the EU.