Thur 07 March 2019
By Jayne He
On 28 February in Herbert Smith Freehills (HSF) Sydney office we celebrated the launch of the Herbert Smith Freehills China International Business and Economic Law (CIBEL) Centre in partnership with the world-renowned law firm. The cooperation aims to grow research strength and partnerships relevant to China in the 21st century.
In welcoming guests, HSF’s Regional Managing Partner, Australia, Andrew Pike said that as one of the region’s leading law firms, HSF has an important role to play in shaping legal policy in the region and that the association with CIBEL as a key part of this.
“We believe that CIBEL – with the world’s largest cohort of Chinese law scholars outside China – and a solid foundation in fact-based research in the disciplines of business and law – has the potential to significantly enhance public debate in important emerging areas like free trade, IP enforcement and FinTech,” he said.
CIBEL Centre Co-Director, Associate Professor Heng Wang gave the keynote address highlighting the significant research being undertaken on cutting-edge issues in the areas of corporate and competition law, trade law, investment law, and financial law, and outlined the importance of collaborative research to continue progression in these areas.
“China’s growing importance in international business is undisputed. Since China’s accession to the World Trade Organization, international business and economic law have been impacted by greater Chinese participation, challenging many of the existing norms internationally and locally. China is Australia’s largest trading partner, further reinforcing the need for Australia to seize the opportunities presented by the changing international economic landscape. China also profoundly affects international economic legal order. These are exactly the issues that CIBEL intends to address,” he said.
Professor Wang’s research explores China’s evolving approach to international economic legal order, and its implications for the rest of the world, by looking at the frontline of China’s practice like the Belt and Road Initiative (the BRI) and central bank digital currency.
“These issues are crucial for understanding China in the long term but are underexplored,” said Professor Wang.
Professor Wang’s groundbreaking legal analysis of the Belt and Road Initiative has led to his presentation at Oxford University, teaching at National University of Singapore, talks at Wharton School and three schools of the University of Pennsylvania, and invitations to many events and collaboration opportunities in Europe and elsewhere.
“CIBEL is a global leader in problem-solving and social engagement. CIBEL will further advance understanding and debate on China-related international business and economic law by bringing together industry experts, regulators, and thought-leaders to debate and share ideas,” he said.