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Jiali Xu Attended News Conference of China Top 10 Litigation Cases 2017

Author:Longan Law FirmAddtime:2018-03-27 10:42:47Font size:SmallMediumBig

 On the afternoon of March 26, 2018, the 13th China Top 10 Litigation Cases 2017 was published at the news conference of the Law Press of China. This conference was co-hosted by Law Society of China’s Cases and Law Press of China, and supported by law schools of Peking University, Tsinghua University, People’s University of China, China University of Political Science and Law and Central University of Finance and Economics.

Mr. Jiali Xu was invited as one of the experts to give comments on Ezubao and his main ideas were as follows:
1. In the era of Internet, the rapid development of Internet facilitated the development of society and human life. However fast the development was, human behaviors still should be in line with traditional laws.
2. This fast development also explained why Ezubao could raise funds of CNY 5 million within a relative short period of time, which went beyond our imagination. However, such amount of money was at the disposal of the executives of the company. Three reasons may account for such consequence: 1) Ezubao coaxed the public in the name of online investment; 2) It had something to do with false publicity; and 3) That the public didn’t take caution against such promise of high rewards resulted from their ignorance of laws and internet investment.
3. The deficiency in supervision caused, to some extent, such consequence.
4. It was necessary to tell the difference between legal activities and illegal activities in the Internet industry.
5. It was significant to probe into the connection between legislation and internet development.

 

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