Quantum mechanics

Algorithm

Law and economics

Social psychology

Enforcement

China

Archaeology

Economics

Computer science

Business

Public interest

Physics

Psychology

Geography

Political science

Style (visual arts)

Civil procedure

Class action

Artificial intelligence

Action (physics)

Class (philosophy)

Compensation (psychology)

State (computer science)

History

Theoretical Inquiries in Law

China has a civil procedure for collective litigation, which is dubbed Chinese-style class action, as it differs from the U.S.-style class action in some important ways. Using securities class action as a case study, this Article empirically examines both the quantity and quality of reported cases in China. It shows that the number of cases is much lower than expected, but the percentage of recovery is significantly higher than that in the United States. Based on this, the Article casts doubt on the popular belief that China should adopt the U.S.-style class action, and sheds light on the much-debated issue concerning the relationship between public and private enforcement of securities law. The Article also discusses the future prospects of securities class action in China in light of some recent developments which may provide its functional equivalents, including the regulator-brokered compensation fund and public interest group litigation.

Rethinking the Relationship Between Public Regulation and Private Litigation: Evidence from Securities Class Action in China