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Han, Sirui; Xi, Chao --- "Financial regulation as interagency competition? The saga of venture capital rule-making in China" [2020] ELECD 231; in Arner, W. Douglas; Wan, Yee Wai; Godwin, Andrew; Shen, Wei; Gibson, Evan (eds), "Research Handbook on Asian Financial Law" (Edward Elgar Publishing, 2020) 499

Book Title: Research Handbook on Asian Financial Law

Editor(s): Arner, W. Douglas; Wan, Yee Wai; Godwin, Andrew; Shen, Wei; Gibson, Evan

Publisher: Edward Elgar Publishing

Section: Chapter 25

Section Title: Financial regulation as interagency competition? The saga of venture capital rule-making in China

Author(s): Han, Sirui; Xi, Chao

Number of pages: 26

Abstract/Description:

Little academic attention has been directed to how the interplay between China’s financial and economic regulators have helped to shape the way in which its financial sectors are regulated. Drawing on the case of Chinese venture capital regulation, this chapter argues that interagency competition for regulatory jurisdiction between two regulatory bodies under the State Council control, namely, the National Development and Reform Commission and China Securities Regulatory Commission, have fundamentally shaped the evolutionary trajectory of China’s venture capital regulatory framework. As a direct consequence of such competition, instances of regulatory fragmentation, overlaps and gaps can be found throughout China’s financial regulatory framework, in contexts ranging from rulemaking to rule implementation.