China’s financial market infrastructure encompasses six types of systems: financial asset registration and custody systems, clearing and settlement systems, trading facilities, transaction report repositories, important payment systems and basic credit systems, which are of great signifi- cance in safeguarding the stable operation of the financial system. However, the relevant legislation is scattered in a number of individual laws and administrative regulations, showing fragmentation and low-level characteristics, and there are problems such as unclear legal status of financial market infrastructure, limited effectiveness of self-regulation, and lack of systemic regulatory model. In this regard, it is recommended that the proposed financial law should unify the basic system of financial market infrastructure, clarify its content, scope and legal status, and give priority to the application of self-regulatory norms. At the same time, a coordinated regulatory system should be constructed, with the central bank leading the macro-prudential supervision under the coordination of the Central Financial Commission, and the Securities and Futures Commission and the General Administration of Financial Supervision dividing up the work to form a dynamic and coordinated mechanism, so as to provide high-quality financial services for the real economy by the rule of law of China’s financial market infrastructure.

In domestic air passenger transportation contract disputes, there are significant differences in the legal application of the general conditions of transportation, which are concentrated in three types of disputes: first, the dispute over the validity of the standard clause, the core of which lies in the judicial difference between the formal compliance requirements and the substantive agreement; Second, the dispute over the standard of compensation for baggage damage focuses on the conflict between the provisions of the general conditions of carriage and the provisions of the Civil Aviation Law, and the lack of substantive fairness due to the serious lag of the current compensation standard of “compensation per kilogram”; Third, the key to the dispute over liability for breach of contract for aircraft type change lies in the tension between the airline’s obligation to eliminate the type guarantee obligation and the reasonable service expectations of passengers through standard clauses. In order to build consensus and clarify the application of law, the effect of standard clauses should follow the dual standards of conspicuous reminder and substantive knowledge in Article 10 of the Judicial Interpretation of the General Principles of Contracts. The standard of compensation for baggage damage should fill the subsequent legal loopholes with the principle of fairness in Article 6 of the Civil Code, and connect with the international compensation standard introduced in the Civil Aviation Law (Revised Draft) to form a fair and reasonable compensation mechanism. The determination of breach of contract for aircraft type change shall be based on the “service standard principle” established in Article 821 of the Civil Code, and the objective impairment of service quality shall be the criterion.

A significant number of tax-related provisions are embedded within China’s non-tax legislation. However, compared with the structurally rigorous and institutionally complete tax provisions found in tax laws, those in non-tax laws tend to exhibit diverse forms, ambiguous language, and broadly delegated authority. This paper systematically analyzes tax provisions in 290 non-tax laws and constructs a typological framework based on criteria such as functional orientation, substantive content, and legal structural positioning. The analysis identifies the fundamental types of tax provisions in non-tax legislation and compares them with those in 16 formal tax laws. The study reveals common issues including legislative overreach, disjointed enforcement, and regulatory fragmentation. To address these, the paper recommends clarifying the boundaries of application, standardizing authorization clauses, and promoting the consolidation of substantive rules. These measures aim to enhance the tax legislative framework and advance the modernization of tax governance.

In December 2025, Russia’s State Duma amended the Code of Administrative Offences of the Russian Federation, extending administrative liability for late payment under procurement contracts from small and medium-sized enterprises (SMEs) to all suppliers. Taking this reform as an entry point, this paper compares Sino-Russian contractual liability models and finds that China adopts a unitary a private-law liability model focusing on civil compensation and party autonomy, while Russia establishes a dual-track liability model that combines private and public law, defining late payment as both civil breach and administrative offence. Understanding these differences is crucial for the compliance and risk control of Chinese cross-border enterprises.

The article examines the provisions of the new Agreement between Russia and China on the Promotion and Reciprocal Protection of Investments, which was signed and ratified in 2025 and replaced the Agreement of 2006. The article shows the relationship between the new and old Agreements, highlighting the new provisions included in the new Agreement. These include, in particular, the characteristics that an investment must have. The concept of "investor" is examined in detail, and the categories of persons excluded from the concept of "investor" by the new Agreement are indicated. The factors that should be taken into account in determining whether a measure of the host state in a specific factual situation constitutes expropriation, as well as which measures do not constitute expropriation under the Agreement 2025. The concept of "transparency" is examined, which implies the obligation of states to promptly publish information regarding the issues covered by the Agreement. The procedure for conducting administrative and permitting procedures applied to investments of investors of another participating state is shown. The changes that were made to the provisions on the procedure for settlement of investment disputes between the host state and a foreign investor are examined. It is noted that the Agreement 2025 is more in line with the “latest generation” of agreements.

This article analyzes the doctrinal and legislative peculiarities of private international law (PIL) in China, Latin America, and Muslim countries. It examines the evolution of Chinese PIL scholarship from isolationism to the Open Door policy, where Professor Han Depei’s “one body and two wings” theory played a key role, and the adoption of the 2010 Act marked the process of legal “Sinicization.” The second part explores a unique phenomenon of the Latin American school — the Bustamante Code of 1928, its structure, and classification of rules that have ensured its longevity.

The third part reveals the influence of Muslim doctrine, using the Egyptian Civil Code of 1948 as an example, which demonstrates a synthesis of Sharia and European traditions.

The conclusion is drawn about the diversity of paths in the formation of PIL in non-Western legal systems, combining national traditions with international standards.

For a long time, Russian companies and their foreign counterparties have preferred to submit their disputes to arbitration institutions located in the EU and other jurisdictions (now regarded as unfriendly due to the imposition of unilateral economic sanctions against Russian entities). This has compelled parties to revise their preferences for arbitration institutions and place of arbitration. One of the most viable alternative solutions to this problem is to select an arbitration institution located in China, a key strategic partner of the Russian Federation.
Currently, there are over 250 arbitration institutions in Mainland China, with 1/4 of them equipped to handle cross-border commercial disputes. Thus, this article analyses the core features of Chinese arbitration legislation, including its stance on ad hoc arbitration, the availability of interim measures, and the competence-competence principle. Special attention is paid to the amendments to the PRC Arbitration Law, which entered into force on March 1, 2026.
Based on this analysis, the author concludes that the revised PRC Arbitration Law is gradually aligning with the core global trends in arbitration legislation development. This alignment is substantially increasing the attractiveness of arbitration as a dispute resolution method in China, and supports its emergence as a new global arbitration hub.