Chao Xi is Professor and Outstanding Fellow at the CUHK LAW, where he concurrently serves as Associate Dean (Research). He specialises in comparative corporate law, securities regulation, and financial regulation, with a particular focus on the case of China. His research has received significant funding support from the Hong Kong SAR Government Research Grants Council, the PRC Ministry of Education, and the Government of India, among others.
Pacta sunt servanda and financial regulation
PRC law has developed an increasingly sophisticated regime placing limits on the enforcement of promises in respect of financial transactions. This research presents a critical overview of that regime, shedding fresh light on the underpinning political, economic and institutional constraints on the utility of pacta sunt servanda under PRC law. It also reflects on the intricate interrelationships between the rule of law and flexibility.