Study title

The interview data were collected by Dr Zinian Zhang from his fieldwork conducted in Hangzhou, the capital city of the Zhejiang Province, the People's Republic of China in May 2017. The interviews focused on the question of how the Chinese court conducts equal distribution in commercial judgment enforcements to deliver fairness between competing creditors. In total, there were sixteen law practitioners, including four judges and twelve lawyers, interviewed. Among twelve lawyers, nine once represented judgment creditors seeking equal distribution, and three represented clients who have to share. The data reveal that fair distribution is not as often used as thought, and that fair distribution is unable to fill the gap left by a corporate bankruptcy system.This application demonstrates that the quality of legal institutions can matter for economic development and that important policy lessons can be learned by China from the UK in this regard. This application recognises that China has been a remarkable economic success story but the country also faces new challenges as its economy enters a more mature phase. In particular, it needs to avoid the 'middle income trap' i.e. where a country has costs that are now too high to compete with low-income countries but where productivity does not match those in high-income countries. There are economies in Asia including Singapore and Hong Kong SAR that have emerged successfully from middle income status. Both these economies are built on UK law and are renowned for the quality of their legal infrastructure in supporting development of the financial system. The application suggests how China might also benefit from the UK experience in building its legal infrastructure. But the application recognises China's singular journey and avoids simplistic conclusions that certain consequences will inevitably follow form certain formal changes. It recognises the need for a continuous process of adaptation and development; learning...