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Article: The P.R.C.'s negotiable instruments law: an instrument for facilitating private economic activity or monetary control? (China)
- Article from:
- Houston Journal of International Law
- Article date:
- January 1, 1998
- Author:
CopyrightCOPYRIGHT 1998 Houston Journal of International Law. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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I. INTRODUCTION
In the years since China began its market reforms, negotiable instruments have played an increasingly important role in China's economy.(1) Their usage facilitates circulation of commodities, timely settlement of debts, and decreases reliance on cash.(2) Promoting the increased use of negotiable instruments is significant in light of China's huge circulation of cash,(3) which has made it difficult to control the total money supply, slowed the circulation of capital, and complicated monetary clearing procedures.(4) While negotiable instruments have been utilized for some time according to commercial practice and custom, no overarching legal ...