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Komfie Manalo, Opalesque Asia: China's legal system has greatly improved over the past 15 years, with the commercial courts exerting real efforts to be on a par with the outside world to encourage a level playing field, claimed Barry Lau, one of the co-founders of Adamas Asset Management Hong Kong Limited.
"China's legal system has moved on compared to 15 years ago. It's a very old story to say Chinese courts do not have respect for the rule of law. I think it has really improved tremendously, especially in cities like Shanghai. The commercial courts here are really eager to be on a par, on a level playing field, with the outside world," Lau told participants in the latest Opalesque 2016 China Roundtable.
He admits there are still still be plenty of room for improvements, but he thinks commercially, Chinese courts are much more ready to appreciate and to learn about how the overseas legal system operates.
Lau added, "China can issue 100 regulations, new regulations a day, so we will have to wait and see, but I think all the steps that have been taken have been positive and will contribute to a better system from a lending or investing perspective in general."
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