Rules Versus Standards in Shareholder Protection under Chinese Law: A New Taxonomy and Empirical Analysis

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Empirical analysis uncovers distinct regulatory strategies in shareholder protection, emphasizing the role of process-oriented standards.

Chinese courts apply substance-oriented rules and standards in shareholder protection, with process-oriented ones largely absent.
The findings reveal that substance-oriented standards dominate while suggesting process-oriented standards provide flexibility and advantages.
The analysis identifies conceptual challenges to employing process-oriented standards in China amidst prevalent institutional authority challenges.
Current institutional constraints show flexibility, indicating that Chinese courts can adopt process-oriented standards in various corporate disputes.

James Si Zeng (2025) studied this question.

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