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Peking University Transnational Law Review PEKING UNIVERSITY TRANSNATIONAL LAW REVIEW Volume 2, Issue 2 2014 PEKING UNIVERSITY SCHOOL OF TRANSNATIONAL LAW [email protected] PEKING UNIVERSITY TRANSNATIONAL LAW REVIEW VOLUME 2, ISSUE 2 2014 Editorial Board Editor-in-Chief LI Yi Executive Editor Managing Editor LIU Shuang XU Tingting Articles Editor Student Notes Editor ZHOU Shilin LIU Xing’er Book Review Editor ZHANG Weiguo Senior Editors CHEN Shenglan DONG Shi HAN Yanjun LING Tong RUAN Min SONG Yongchen SUN Hui WANG Lingling WU Guanhua XIN Junqing ZHANG Junqi ZHANG Rou ZHANG Xueying ZHONG Xiaozhu ZHOU Qing Editors DAI Yanli GAO Lei GUO Yufei JIANG Shan LI Jiaxing LI Mengshi LIU Wenyuan PENG Kangzhe SHI Shuxin WANG Biyu WANG Teng WU Youran YANG Yifei YAO Zhihong YU Yajun Faculty Advisors Eric MAO Christian PANGILINAN TAN Lei LU Yi © 2014 Peking University School of Transnational Law Advisory Board Duncan ALFORD Ray CAMPBELL Mark FELDMAN Stephan JAGGI JIN Zining Sang Yop KANG Steven KARGMAN Douglas LEVENE Peter MALANCZUK Philip MCCONNAUGHAY John NIEHUSS Mark ROSENBAUM Francis SNYDER Stephen YANDLE Administrative Support DAI Zheng GUAN Shangyicheng Bernice INES LIU Nan LIU Qing YANG Rui ZENG Yuchen ZHANG Chenli ZHANG Jing ZHONG Xiaojin ZHU Xiaoli Copyright: Copyright ©2014 by Peking University School of Transnational Law. All rights reserved except as specifically stated otherwise. Unless otherwise noted, articles may be reproduced and distributed, in whole or in part, for educational purposes, including distribution to students, provided that copies: (1) are distributed at or below cost; (2) the author, and “originally published in Peking University Transnational Law Review,” volume, and first page are included, with the statement that all rights are reserved; and (3) Peking University Transnational Law Review is notified of the use. Subscriptions and Back Issues: Peking University Transnational Law Review is published twice a year by Peking University School of Transnational Law. For subscription, please contact us at [email protected]. Obtain back issues from Peking University School of Transnational Law, B216, Peking University, Xili University Town, Shenzhen, Guangdong, China, 518055, or electronically at HeinOnline, http://heinonline.org. Please visit our website at http://stl.pku.edu.cn/academics/peking-university-transnational-law- review/. © 2014 Peking University School of Transnational Law PEKING UNIVERSITY TRANSNATIONAL LAW REVIEW VOLUME 2, ISSUE 2 2014 CONTENTS EDITOR-IN-CHIEF’S REMARKS ................................................................ I ARTICLES Francis SNYDER, Multilateral Monitoring of Food Safety Law in China: The WTO Trade Policy Review Mechanism (TPRM), 2006-2014 ...................................................... 321 Nansulhun CHOI & Sang Yop KANG, Competition Law Meets Corporate Governance: Ownership Structure, Voting Leverage, and Investor Protection of Large Family Corporate Groups in Korea ........................................................................................................................ 411 Seth CHERTOK, Why the Joint Agencies Shouldn’t Apply the Volcker Rule to Private Equity Real Estate Funds ........................................................................................... 445 © 2014 Peking University School of Transnational Law ZHU Daming, The Current Situation and Reform of Legal Institution of Corporation Divestiture in China ....................................................................................... 470 Patrick JIANG, A Uniform Precautionary Principle Under EU Law ...................................... 490 BOOK REVIEW Mark FELDMAN, Improving the International Law and Policy Regime: Options for the Future, by Karl P. Sauvant & Federico Ortino ........................................................... 519 STUDENT NOTE ZHOU Yu, Whither the Next Chinese Judicial Reform on the Local Judiciary —Challenging the Government Under the Judicial Context .......................... 525 ANNEX Peking University Transnational Law Review Bluebook Supplemental Rules for Chinese Sources ........................................................................................ 559 © 2014 Peking University School of Transnational Law 2014 Editor-in-Chief’s Remarks I Editor-in-Chief’s Remarks Dear Reader, Welcome to the fourth issue of Peking University Transna- tional Law Review (“Law Review”). The Law Review is a journal focused on publishing legal scholarships and other articles on Chinese, U.S., international and transnational law, as well as articles regarding comparative law issues. The Law Review, founded in 2011, is published in English twice a year. It is oper- ated independently by students of Peking University School of Transnational Law (“STL”). STL is a unique law school that prepares students to be transnational lawyers. It provides a four-year joint-degree pro- gram, which combines a Juris Master degree focused on Chinese law with a Juris Doctor degree focused on American law. So far, we have published three issues. In this fourth issue, we are excited to share with you our own Bluebook Supplemental Rules. From the previous editing work we found that the Blue- book rules are inadequate in citing Chinese sources, therefore we initiated a set of internal rules to supplement the Bluebook rules. We hope these rules will be helpful for your future citation of Chinese sources. The editorial board is dedicated to promote the Law Review to become a globally well-known law journal and an important tool for those who are researching and working on related topics. We welcome submissions worldwide, including but not limited to scholar’s papers, book reviews, speech series, case notes and legal updates. No minimum or maximum requirements as to page or word numbers are required. We encourage footnotes, rather than endnotes, as well as conformity to the 19th edition of The Bluebook: A Uniform System of Citation. © 2014 Peking University School of Transnational Law II PKU Transnational Law Review Vol. 2:2 We accept manuscripts year round. Please submit your manuscripts in electronic form to [email protected]. Inquiries can be sent to the same email address as well. We will go through a rigid review process and provide timely feedback once we receive your submissions. Yours Sincerely, LI Yi Editor-in-Chief Peking University Transnational Law Review © 2014 Peking University School of Transnational Law Multilateral Monitoring of Food Safety Law in China: The WTO Trade Policy Review Mechanism (TPRM), 2006–2014 Francis Snyder ABSTRACT Established within the framework of the World Trade Organiza- tion (WTO), the Trade Policy Review Mechanism (TPRM) reviews periodically the trade policies of all WTO Members. The review in- cludes many aspects of food safety regulation. China’s trade policy is reviewed every two years. This paper analyses in detail the reviews of China’s trade policy in 2006, 2008, 2010, 2012 and 2014. It focuses in particular on food safety law and types of standards, alignment of domestic standards with international standards, the role of different C.V. Starr Professor of Law, EU Jean Monnet Chair ad personam and Co-Director, Centre for Research on Transnational Law, Peking University School of Transnational Law, Peking University Shenzhen Graduate School; Visiting Professor, College of Europe, Bruges, Belgium. The author wishes to thank Peking University Shenzhen Graduate School and Peking University School of Transnational Law for financial support. Special thanks are due to Professor Wu Zhipan, Executive Vice-President of Peking University, Director of the Peking University Financial Law Institute and formerly Dean, Peking University Law School; and to Professor Hai Wen, formerly Vice-President of Peking University and Chancellor of Peking University Shenzhen Graduate School, and currently Dean, HSBC Business School, Peking University Shen- zhen Graduate School. For encouragement and support, the author is also grateful to Professor Jeffrey Lehman, currently Vice-Chancellor, New York University Shanghai and formerly Vice-Chancellor, Peking University Shenzhen Graduate School and Founding Dean, Peking University School of Transnation- al Law; and to Professor Philip McConnaughay, Dean of Peking University School of Transnational Law. For excellent research assistance, the author also wishes to thank Lu Yi, currently Lecturer of Law and Assistant Director, Centre for Research on Transnational Law, Peking University School of Transnational Law, and Kim Yi-seul, Chen Fei, Xu Mengting and Chen Shenglan. He also wishes to thank the editors of Peking University Transnational Law Review for their encouragement and help. A much shorter version of part of this article is being published in a Special issue on “Food Safety in China: Science, Economics and Policy” of the Journal of Integrative Agriculture (JIA), formerly Agricul- tural Sciences in China, an official publication of the Chinese Academy of Agricultural Sciences (CAAS), and I am grateful to the JIA for permission to draw on that article here. Comments are welcome and should be sent to [email protected]. 322 PKU Transnational Law Review Vol. 2:2 domestic institutions, transparency and notification of food safety measures under the WTO agreements on Sanitary and Phytosanitary Measures (SPS) and on Technical Barriers to Trade (TBT Agreement), import and export, and geographical indications (GIs). It concludes that the WTO TPRM can contribute, within its mandate, to reform of Chinese food safety law and improvement
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