China's company and commercial law is still in formation, but its emerging patterns contain many practical elements that can be of immediate use to business people and their counsel. This detailed guide presents not only the current disposition of such elements, but also authoritative analysis--by two outstanding Chinese legal scholars with US, UK, and Canadian experience--of likely developments in the years to come. As well as providing a rich understanding of the legal issues affecting transactions in China, this book offers systematic treatment of such business factors as: Procedural aspects of setting up a business in China; Business incentives and restrictions; Contracts; Competition; Taxation; Property rights; Protection of creditors; Regulation of foreign trade and investment; Regulation of financial markets; Insolvency; and Intellectual property rights. The authors' expert analysis of the ongoing reform of state-owned enterprises, and its impact on the law of business associations, provides valuable insight into the present and future development of Chinese commercial law.