The Li Buyun Law Prize was initiated by Shanghai Institute of Finance and Law, and aims to award individuals and organizations who have made eminent contributions to Chinese legal studies, Chinese and foreign legal studies, and legal education exchange. This award is appraised and awarded once a year, and there are one Chinese prize-winner and one non-Chinese prize-winner each time.

Mr. Buyun Li, born in 1933, is an Honorary Member of Chinese Academy of Social Science（CASS）, one of China's outstanding jurists, and the co-founder of Shanghai Institute of Finance and Law.

Shanghai Institute of Finance and Law (SIFL) is a non-profit research institution founded in Shanghai in 2002 by Mr. Liu Hongru, a pioneer in China's financial reform, and Professor Li Buyun, an advocate for the rule of law. SIFL seeks to promote the market economy under the rule of law, and provide professional analysis to support public decision-making from the perspectives of finance and law.