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The International Summer Program of Law School of Shanghai University of Finance and Economics (the “School”) officially kicked off on July 1, 2019. This International Summer Program lasted for one month, providing graduate students with three courses, covering diverse topics such as international cargo transportation, introduction to the law of multilateral development banks, and Japanese Company Law. The School invited professors from Northumbria University in the United Kingdom, the Nitz School of Advanced International Relations at Johns Hopkins University in the United States, and the University of Tokyo as lecturers, all of whom were welcomed and well regarded by students.

TheLaw on international Carriage of Goodswas taught over five days by Professor Gitanjali N Gill from the Northumbria University in the UK. Professor Gill combined legal provisions with real case discussions to guide students by asking questions, and thus the classroom atmosphere was relaxing and fun, which was quite popular among students. This course started with the basic legal system of the United Kingdom and, in this context, focused on the international carriage of goods rules in details based on the important international conventions in the field of international maritime transport, mainly the provisions on the responsibilities and obligations of the carrier. TheInternational Convention on CertainLegal Rulesof the Uniform Bill of Ladingis also known as the Hague Rules or the Hague-Visby Rules, and the Hamburg Rules are also known as theUnited Nations Convention on the Carriage of Goods by Sea. Professor Gill presented the specific navigational obligations, liabilities and claims provisions of the Convention respectively, and finally put them into the relevant legal provisions of the Maritime Law of China, and made a horizontal comparison of the main elements. In addition, Professor Gill gave a brief introduction to the international transport rules of air and land transport. The five-day learning experiences considerably enriched students’ knowledge and sparked their passion and interest in foreign legal system. They not only had a certain understanding of the relevant rules of international transportation, but also improved their ability to solve problems and analyze legal controversies in English through training.

TheIntroduction to Japanese Company Lawwas taught by Professor Yoshida from the Department of Law and Political Science, University of Tokyo. Over the course of four days, Professor Yoshida lifted the veil on Japanese Company Law and helped students establish a framework for understanding Japanese Company Law. First of all, the Professor introduced to the students Japan's corporate governance. The separation of ownership and management is the basis of governance, and the shareholder structure of Japanese companies without controlling shareholders is the majority. With the goal of protecting the interests of shareholders and creditors and maximizing wealth, Japan has carried out a series of reforms in corporate governance. The second part was the board of directors of Japanese companies. Different types of companies have the right to choose in the internal institution setting of corporate governance, and the internal power distribution of open companies and private companies has different configurations. Taking the Case of Apamanshop as an example, the course focused on the directors' duty of care towards the company, and put forward relevant rules of shareholder derivative action in Japanese law. The third part was the shareholders and shareholders' meetings. The shareholders’ meetings involve a wide range of rights to do almost anything. The concentration of shareholders' meetings at the end of June also gives rise to the problem that shareholders who own shares of several companies can only participate selectively. Because minority shareholders are easy to chase interest rate differentials and abuse their power, it is difficult for them to get support of other shareholders for their proposal. The “one-share, one-vote” system is implemented and directors are obliged to explain problems to shareholders in terms of election. Finally, the Professor introduced the mergers and acquisitions of companies. There are differences between the changes of directors' and shareholders' rights caused by newly established merger and absorption merger. If the shareholders' meeting is skipped in the merger, 90% or more of the equity proportion of the merged company shall be owned. The dispute in merger is often the uncertain aspect of transaction price. After the company law reform in 2005, the value after the merger was added to the appraisal value, which was divided into two categories: the assumed price and the combined price. However, the court has been confused about which price to use under what circumstances. Professor Yoshida has a wealth of experience in studying abroad and teaching abroad. In her lectures, she inspired students to think about the company law and the development direction of the company law, which made the students gain a lot.

Introduction to Multilateral Development Bank Lawwas taught by Natalie Lichtenstein, a professor at Nitz School of Advanced International Relations of Johns Hopkins University. The main content of this course is an empirical analysis of some of the most famous multilateral development banks in the world today. Since the Bretton Woods Conference in 1944, a new international economic and financial order, led by the United States, has been established on a global scale, with multilateral development banks such as the World Bank being an important tool for the United States to master postwar financial hegemony. It is true that the establishment of the World Bank has played a positive role in the post-war economic recovery and the reconstruction of infrastructure, but its disadvantages are also evident. At present, the World Bank has many problems, such as the control of the developed countries led by the United States, the difficulty of borrowing from the less developed countries, too many political demands and so on. However, the international cooperation mechanisms of multilateral development banks have their advantages. After the World Bank, a large number of regional multilateral development banks have emerged, playing an active role in their regions. In 2015, the China-led Asian Infrastructure Investment Bank (AIIB) was formally established, and its emergence has facilitated the process of building connectivity and economic integration in the Asian region, strengthened cooperation between China and other Asian countries and regions, and is a major step forward in China's grasp of the international financial voice. Professor Natalie Lichtenstein was fully positive about the AIIB's progress. Through the all-English teaching, the students preliminarily mastered the framework of international financial cooperation, honed their English ability, broadened their horizons, and provided good materials for futurestudy and research.

This International Summer Program is the deepening and advancement of the internationalization work of the Law School of Shanghai University of Finance and Economics, which has enhanced the close contact with scholars of relevant cooperative schools. At the same time, the Program has enabled students from many schools, including the Law School, to enjoy a legal feast taught in English without leaving-, enhanced students' knowledge of international law, and deepened their understanding of the legal systems of different countries. For graduate students of the Law School, the Program especially has broadened their academic horizon and improved their English skills, which will have a profound impact on their future study.

Contributed by: Huang Qian

Photograph: Huang Qian