To fully understand the role of law in China’s capital market, one must first consider how modern firms and the capital market came to form and how their early emergence fit within the Party-state’s overall economic development plans.

The chapter presents the emergence of the capital market in China. It focuses on two key elements: (1) the rise of the large (public) firm and (2) the creation of the capital market as a platform for the offering and exchange of securities. Through these elements, the chapter looks at how the legal framework that governed firms in the early stages of market development was shaped by, and helped secure, the political–economy dynamics at that time.

This is the first book to provide a comparative and critical analysis of why and how corporate governance and corporate law have been or can be used to promote and protect sustainability in the four common law jurisdictions in Asia, ie Singapore, Hong Kong, India and Malaysia. Based on theoretical, doctrinal and empirical research, I critically evaluate the rationales for, and effectiveness of, six corporate mechanisms, namely (1) sustainability reporting; (2) gender diversity on the board of directors; (3) constituency directors; (4) stewardship codes; (5) directors’ duty to act in the best interests of the company; and (6) liability on companies, shareholders and directors.

All the four common law jurisdictions in Asia – Singapore, Hong Kong, Malaysia and India – have imposed sustainability reporting requirements on listed companies. In Hong Kong, listed companies are required with effect from the financial year starting 1 January 2016 to disclose whether they have complied with the ESG reporting guide.1 In Malaysia, large listed companies must publish a sustainability report with effect from the financial year ending 31 December 2016, and other listed companies 31 December 2017.

This book seeks to contribute to three principal areas of research: (1) comparative sustainability/CSR; (2) comparative legal analysis of sustainability/CSR; and (3) company law and corporate governance, and sustainability/CSR.

Chinese firms have a poor history of questionable practices that have caused various public relations crises in domestic and international markets. This chapter examines the development of corporate social responsibility (CSR) in Chinese firms, including their drivers and their current state. To prevent Chinese firms from having profit maximisation as their sole objective, the Chinese government positioned CSR as an area central to the country’s stability and future growth. It has also developed guidelines for firms in line with the United Nations Global Compact and encouraged firms to adopt them in their corporate policies and activities. The chapter ends by examining the CSR practices adopted by Huawei, a major Chinese firm, in its overseas operations, including those in Africa.

This chapter summarises the key arguments, explains the rationales and importance of this book, and sets out the structure and outline.

This chapter summarises the key arguments, explains the rationales and importance of this book, and sets out the structure and outline.