ABSTRACT
The commencement of the new body of company law in China on 1 July 1994 represents a significant milestone in the development of commercial law in China. The enactment of this new legislation in December 1993 reflects a commitment on the part of the national government of China to a range of company law principles which would be familiar to many western lawyers. The impression which is given by the China Company Law is that the privileges of incorporation and limited liability will be jealously guarded by the state and that the state will closely monitor the actions of incorporated companies. The China Company Law also contains a number of provisions which take a more permissive approach to the rule of law. The existence of judicial review of the actions of state officials and agencies may be seen as another manifestation of this rule of law ideology.
