法院真的推动了法治进程吗?——中国法院审理金融行政案件引发的制度性反思

在2000年海南凯立公司因寻求公开发行股票未果而提起以中国证监会为被告的行政诉讼案件发生之后,各方给予很高评价,并期待该案在推动未来我国金融市场法治化发展方面能起到重大影响。然而,凯立案发生之后近十年的中国证券市场法治化进程实际上已经证明当初人们的乐观预期落空了。在股票发行领域,监管者的实质性审查权力与现代金融市场的法治化要求这两者之间存在着内在的紧张和矛盾,进而阻碍了法院成为提升金融法治程度的推动力量。

Does Court Really Promote Rule of Law Process?——Institutional Reflection on Trail of Financial Administrative Litigation in China

In 2000,the administrative case of Hainan Kaili Company v.China Securities Regulatory Commission for the denial of public offerings received high evaluation,because it was expected to endeavor much in the promotion of China's future rule of law in financial market.However,ten years later,the status quo of China' s rule of law process in securities market evidences the defeat of people's hope.In stock issue field,there are intenseness and conflict between the substantial review authority of regulator and the...