11 ASIAN LEGAL BUSINESS CHINA • 亚洲法律杂志-中国版 WWW.LEGALBUSINESSONLINE.COM/CHINA service costs and facilitating information sharing and exchange. “Therefore, the importance of the basic skills and knowledge that lawyers previously relied on for their work has decreased. Lawyers need to constantly adapt to industry changes and improve their own capabilities to cope with future challenges. Lawyers will not be replaced by AI, but they may be replaced by peers with stronger professional competency, creativity and ability to learn and adapt.” The revisions made to the policy regarding the publication of judgments and rulings, which carry substantial implications for litigators, have garnered considerable scrutiny. According to Zhang, since 2023, the number of judgments and rulings made publicly available on the website of China Judgments Online has decreased sharply, causing confusion among the entire legal profession. The relevant documents issued by the Supreme People’s Court on launching a People’s Court Case Library and the operation of a National Court Judgments and Rulings Library have raised further concerns among the public about judicial transparency. “Since it started operation ten years ago, the China Judgments Online platform has released about 130 million judgments and rulings, becoming the world’s largest database for judgments and rulings. It is the greatest achievement of China’s judicial reform and judicial transparency movement. Judicial organs, the legal profession, legal researchers and even the whole society have benefited greatly from this work which has significantly uplifted the professional expertise of the entire legal industry, including all the players mentioned, and promoted the establishment of a community of legal profession.” Zhang is pleased to see that the Supreme People’s Court responded to the concerns of changes in the policy of publishing judgments and rulings by stating at the National Conference of High Court Presidents held on January 14 that it would “step up online publication of judgments and rulings”. “We look forward to witnessing the effective implementation of this guidance,” says Zhang. NEW RULES, NEW DEMANDS Zhou Wei, Partner of Zhong Lun Law Firm, specializes in capital market dispute resolution. In her opinion, the capital market entered a new era in 2023. “Under the general direction of ‘revitalizing the capital market and boosting investor confidence’, the capital market rules framework underwent a comprehensive upgrade whereby securities regulation has firmly established a risk bottom line, the investor protection system has been strengthened, the quality of listed companies has improved, and there is ‘zero tolerance’ for securitiesrelated violations. Gradually, a threedimensional accountability system comprising administrative law enforcement, criminal justice and civil compensation has been established to support the quality and stable development of the capital market.” Zhou, who has been involved in securities litigation and compliance for a long time, says that she feels privileged to witness, with other market players, the comprehensive improvement of China’s capital market legal system, as well as new developments and changes in theoretical research and judicial practice of securities litigation. She is also “keenly aware that capital market reform and development has put forward higher requirements on the professionalism and specialized expertise of lawyers”. In 2023, the government issued or revised numerous critical laws and regulations. Zhang of Hui Zhong believes that commercial dispute resolution lawyers and non-litigators should pay particular attention to and carefully study the Company Law which was revised at the end of 2023. “This is the second major overhaul of the Company Law since its promulgation in 1993 and its comprehensive revision in 2005. The revisions this time include significant adjustments to the registered capital system, shareholders’ responsibility for capital contribution, shareholders’ rights, responsibilities of directors and senior management personnel, and relevant systems of limited liability companies, with many major changes. However, how to understand and apply the new provisions needs to COVER STORY TOP 15 LITIGATORS 十五佳诉讼律师 DING WEIXIAO 丁伟晓 GRANDALL LAW FIRM 国浩律师事务所 GUO XIAOMING 郭小明 COMMERCE & FINANCE LAW OFFICES 通商律师事务所 HU KE 胡科 JINGTIAN & GONGCHENG 竞天公诚律师事务所 ALEX HUANG 黄海 LLINKS LAW OFFICES 通力律师事务所 LI QI 李琦 TIAN YUAN LAW FIRM 天元律师事务所 LI TAO 李涛 DACHENG LAW OFFICES 大成律师事务所 TIM LIU 刘一民 GLOBAL LAW OFFICE 环球律师事务所
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