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Bai Jiang: ¡°Financial Suppression, Regulation, and Economic Development"

A lecture on the theme of ¡°¡°Suppression of finance, regulation of finance, and economic development¡± was given by Professor Bai Jiang, Fudan University in Mingde Law Building 601 meeting room on October 15th. Professor Wang Yi, Zhu Daqi, Yang Dong and post graduates of APIL attended the lecture.

¡¡¡¡The lecture was hosted by Yang Dong, Vice Dean of Renmin Law School. He expressed the appreciation of Mr. Bai¡¯s visit as well as the expectation of cooperation between Renmin Law School and Fudan Law School

¡¡¡¡Mr. Bai pointed out that suppression on finance is a common phenomenon of developing countries, which in nature is a ¡°covert tax¡±, making up for public expenditure indirectly. However, it has detrimental impact on the finance and economic development. To solve this problem, a benign legal environment is needed, where the creditors¡¯ and investors¡¯ rights are well protected, financial market are open and competitive, judicial system is independent and principle of stare decisis strictly followed.

¡¡¡¡After the lecture, Professor Zhu Daqi talked in depth about the related topics, especially the nuances between suppression and regulation.

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