The re-emergence of state capitalism around the world in recent years has challenged the world trade regime in many respects. In particular, the practice of state-owned banks (SOBs), which funds the policy advancement of state capitalist countries, has challenged the subsidy regime of the World...

Amidst the U.S.-China trade war, China's banking sector, the backbone of China's economy, plays a key role in this battle. China's banking sector, however, poses a puzzle to contemporary studies of state-owned banks (“SBs”). According to the property right theory, the mainstream SB theory,...

While trade liberalization is the major objective that the world trade regime pursues in the long-run, the desirable pace and mode of liberalization for each economy may vary. This is particularly the case for financial liberalization, which involves plenty of prudential concerns such as control...

Paragraph 2(a) of the Annex on Financial Services of the General Agreement on Trade in Services (GATS), known as the “GATS Prudential Exception”, plays a crucial role in connecting international trade laws and international financial laws. Commentators, however, are less satisfied with it....

China's banking sector has become too big to be ignored. Despite the splendid growth in the past decade, China's banking sector is now facing many challenges, including rising risk exposure, deteriorating profitability, and aggravating financial constraints in China's private sector. These...

Central bank digital currency (“CBDC”) is a crucial FinTech development which aspires to overhaul the current payment system. In the wake of the COVID-19 pandemic, CBDCs' promises to reduce personal contact, facilitate socially desirable use of money, and initiate more targeted monetary...

The distributed nature of blockchain poses challenges to the existing legal system, notably the jurisdiction rules addressing court jurisdiction and governing laws. The In re Tezos case, a securities law dispute brought in the District Court of Northern District of California of the United...