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Shanghai may pioneer financial civil court

Published on 04/27 2018  Source: China Daily


China is considering the use of a specialized court to handle finance-related lawsuits in Shanghai to improve the country's judicial capability and better prevent financial risks. The proposed establishment of the Shanghai Financial Court was submitted to the Standing Committee of the National People's Congress for deliberation as the top legislature began its bimonthly session on April 25. The civil court, which would deal with financial disputes in the city, aims to bolster the international influence of China's financial jurisprudence, forestall financial risks and steer the financial sector toward serving the real economy, as well as building Shanghai into an international financial center by 2020, says Zhou Qiang, president of the Supreme People's Court, who briefed the lawmakers.(Source: China Daily)