Enterprise reform in China : the evolving legal framework

Enterprise reform in China since 1979 has been supported by accelerated reform of China's legal framework. In the transition to a"socialist market economy", state enterprises will operate independently of the government, may no longer be fully owned or controlled by the state, and will deal with the state and other legal entities through market based transactions. The number of collective (township and village) enterprises has grown rapidly, and in recent years so has the number of private enterprises. This level of economic change requires a commensurate level of legal change. The author describes the legal framework needed for enterprise reform in the world's most populous country. First,it is essential to define the enterprise and its rights and obligations. To define and broaden the autonomy of enterprises, enterprise law and regulations must be reformed. For state and collective enterprises, a goal of legal reform is also to effect the separation of ownership and management. To create a legal environment in which all enterprises - including state enterprises -participate as independent actors, reform is also needed in the following areas. Bankruptcy and competition law, to promote fair effective competition among autonomous enterprises and to ensure the continued protection of the public interest even without direct state management of enterprises. Financial laws, including securities laws and regulations, so enterprise financing can take place in a market driven system rather than through a planning mechanism. Laws governing land use, mortgage financing, and pension and social security systems, to separate employee housing and pension and social security systems from enterprise obligation and henceforth to provide housing pensions, and social security through alternative means. Contract law, to protect the legal rights of enterprises and allow economic transactions between parties to replace administrative controls, and to ensure that the court system and dispute resolution processes function credibly and reliably, thereby making all other reforms enforceable. To make these reforms meaningful, property rights must also be better defined. China's civil code currently offers only a limited definition of the rights of ownership and of an enterprise's rights to sell, transfer, or otherwise dispose of property. The author catalogs these pieces of the legal framework, suggesting where further reform is needed to support enterprise reform; focuses on the reform of state enterprises but also discusses the reform of nonstate enterprises; and touches only lightly on the role of foreign investment but does address the developing framework of patent, trademark, and copyright laws,National Governance,Legal Products,Private Participation in Infrastructure,Legal Institutions of the Market Economy,Judicial System Reform

A survey of Viet Nam's legal framework in transition

Viet Nam is trying to preserve its sociopolitical system while moving gradually toward a different economic system, recognizing that law is a valuable instrument for effecting orderly change. It has begun to enact the laws and decrees needed in such areas as company law, contract law, banking law, and, especially, laws on foreign investment. Further progress toward a market system will require more legislative activity. The author highlights four areas of special priority. Thoroughly implementing the new land law, by issuing detailed regulations to"marketize"the leasehold system, clarify land-use rights in liquidating state enterprises or making them corporations, and establish a firm basis for mortgage financing. Deepening state enterprise reform through a new legal framework for state enterprises, to be established under a revised company law, to permit state enterprises to operate under the same framework as nonstate enterprises. This should be accompanied by a new state management of its shares in enterprises. Revising the framework of company law and foreign investment law to implement and expand pilot corporatizations. Finalizing the civil code and commercial law to provide rules of the game for everyday business transaction and for resolution of the disputes that will inevitably result from them. Other areas less far-reaching in impact but important for market development include regulations to implement bankruptcy law, competition law, and securities law. In addition, the author notes the need to guard against separate legal regimes for state enterprises, nonstate enterprises, and foreign-investment enterprises, as this would interfere with efficient competition among enterprises with different ownership structures. It is also important to coordinate foreign legal traditions and preferences, especially in such areas as dispute resolution.National Governance,Legal Products,Banks&Banking Reform,Environmental Economics&Policies,Legal Institutions of the Market Economy

Comprehensive molecular characterization of gastric adenocarcinoma

Gastric cancer is a leading cause of cancer deaths, but analysis of its molecular and clinical characteristics has been complicated by histological and aetiological heterogeneity. Here we describe a comprehensive molecular evaluation of 295 primary gastric adenocarcinomas as part of The Cancer Genome Atlas (TCGA) project. We propose a molecular classification dividing gastric cancer into four subtypes: tumours positive for Epstein–Barr virus, which display recurrent PIK3CA mutations, extreme DNA hypermethylation, and amplification of JAK2, CD274 (also known as PD-L1) and PDCD1LG2 (also knownasPD-L2); microsatellite unstable tumours, which show elevated mutation rates, including mutations of genes encoding targetable oncogenic signalling proteins; genomically stable tumours, which are enriched for the diffuse histological variant and mutations of RHOA or fusions involving RHO-family GTPase-activating proteins; and tumours with chromosomal instability, which show marked aneuploidy and focal amplification of receptor tyrosine kinases. Identification of these subtypes provides a roadmap for patient stratification and trials of targeted therapies

From sewer to saviour-targeting the lymphatic system to promote drug exposure and activity

The lymphatic system serves an integral role in fluid homeostasis, lipid metabolism and immune control. In cancer, the lymph nodes that drain solid tumours are a primary site of metastasis, and recent studies have suggested intrinsic links between lymphatic function, lipid deposition, obesity and atherosclerosis. Advances in the current understanding of the role of the lymphatics in pathological change and immunity have driven the recognition that lymph-targeted delivery has the potential to transform disease treatment and vaccination. In addition, the design of lymphatic delivery systems has progressed from simple systems that rely on passive lymphatic access to sophisticated structures that use nanotechnology to mimic endogenous macromolecules and lipid conjugates that 'hitchhike' onto lipid transport processes. Here, we briefly summarize the lymphatic system in health and disease and the varying mechanisms of lymphatic entry and transport, as well as discussing examples of lymphatic delivery that have enhanced therapeutic utility. We also outline future challenges to effective lymph-directed therapy