Understanding Business and Personal LawChapter 7:
Contractual CapacityA Global PerspectiveChina
China, officially known as the People's Republic of China, is the world’s largest country by population and is only slightly smaller than the United States. It is located in eastern Asia, bordering the East China Sea, the Korea Bay, the Yellow Sea, and the South China Sea. The capital is Beijing. It has the world’s second largest gross domestic product or GDP. Over 82 percent of the population is literate.
China's artistic accomplishments over the past 3,000 years are a source of great pride for the Chinese people. In early times, the Chinese produced jade carving and bronze vessels. The most recognized Chinese art form is calligraphy in which the characters of the Chinese language are written with a brush on silk or paper. Calligraphy can be traced as far back as the fourth century to a man named Wang Xizhi.
China is considered a Communist state. The National People’s Congress elects its president and vice president for five-year terms. The Premier is nominated by the president and confirmed by the National People’s Congress. This Congress has 2,979 seats and its members are elected by municipal, regional, and provincial people’s congresses to serve five-year terms.
The legal system is a complex mixture of custom and statute and is largely criminal law. Continuing efforts are being made to improve civil, administrative, criminal, and commercial law. The Supreme People’s Court consists of judges appointed by the National People’s Congress.
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