System Economic Law Theory (Research on the Nature of Economic Law and Its Relationship with the WTO)

Author: Liu Zhexin
Publisher:
Publish Date: March 1, 2006
Features: The economic legal system in China since more than two decades of reform and opening-up can be described as "rapid progress." In terms of economic legislation, laws such as the Budget Law, the People's Bank of China Law, the Income Tax Law, and the Price Law have been formulated to improve macroeconomic regulation. These laws consolidate the achievements of reforms in fiscal and financial areas, providing a certain legal basis for further transforming the government's role in managing the economy and ensuring the healthy operation of the national economy. In establishing market rules and maintaining market order, laws such as the Anti-Unfair Competition Law, the Consumer Rights Protection Law, and the Urban Real Estate Administration Law have been enacted. These laws reflect the principles of fairness, justice, openness, and efficiency in a market economy, contributing to the development of a unified and open market system across the country. However, it should be noted that establishing a legal system compatible with the socialist market economy remains a completely new challenge. There is still much that is unfamiliar, unclear, and lagging in our understanding and concepts. Particularly in the face of a gradually developing and improving market economy, our legal work in many areas is significantly behind, with numerous pressing issues in law enforcement and judicial processes. Over the past two decades, economic law research has presented a vibrant and diverse landscape with various academic viewpoints and schools of thought emerging. However, overall, research on the fundamental theories of economic law remains relatively weak, and the study of specific legal branches is fragmented and lacks systematic organization. Practice demands that we address and explain numerous perplexing issues, requiring us to dedicate effort to rigorous research and innovation in knowledge and theory. With the government increasingly intervening in economic life, we must confront some serious questions: What is the legal basis for government intervention? Are there boundaries to the depth and scope of such intervention? Should the government "lead the market," and does it have the capacity to do so? How should we use legal systems to steer the market economy? In the process of deepening reforms in state-owned enterprises, we must seriously study such issues as: Who should specifically manage and operate state capital? Should investors be separated from regulators? Which sectors and industries should state-owned enterprises cover, and through what means should they merge and consolidate? How can state-owned enterprises fulfill their intended roles without compromising market competition mechanisms? After joining the WTO, every aspect of China's economy, politics, and social life will face significant impacts. We must research: What challenges and opportunities will the development of market economy legal systems encounter? In the context of economic globalization, how will our economic legal system play a role in international competition? What kind of legal environment will we provide for foreign investors and trading partners entering China? How can we adopt measures to safeguard national economic security and interests? In the face of increasingly severe environmental degradation and resource scarcity, the task of building a legal system for the circular economy is arduous. How can legislation define the rights and obligations of the public, guiding and promoting their involvement in circular economy development? How can we enhance proactivity and control to achieve a win-win situation for economic development and environmental resource protection, increasing the total benefit? How can the functions of law—encouragement, guidance, and education—be leveraged through benefit-sharing mechanisms to balance individual and societal interests? In terms of market regulation and supervision, how can we determine the scope, timing, and appropriate intensity of legal regulation and supervision? What effective methods, approaches, and tools do we have legally for regulation and supervision? What are the similarities and differences in regulating and supervising various types of factor markets? Our economic law theoretical research should be closely tied to economic life, avoiding the pressing issues raised by current economic reforms and development, and daring to innovate in concepts, theories, and systems. This is the obligation and glorious duty of every researcher and practitioner engaged in economic law studies. We are editing and publishing the Economic Law Library to provide a platform for researchers and practitioners in economic law. The first works in the Economic Law Library are the results of projects from key economic law disciplines in Shanghai and the Shanghai Education Commission's key economic law disciplines. We will later expand our selection to include outstanding research achievements from numerous domestic and international economic law scholars. We firmly believe that these excellent results will attract widespread attention from all sectors of society and will play a role in promoting and advancing China's economic legal system. We hope that the Economic Law Library will become a unique gem in the flourishing garden of legal studies.