SPC releases provisions on Shanghai Financial Court case jurisdiction

Source: english.court.gov.cn  Updated : 2018-08-09

The Supreme People’s Court recently deliberated and approved central committee provisions on case jurisdiction of the Shanghai Financial Court.

The provisions will take effective on August 10 and establish the court as a step in comprehensively deepening reform.

In recent years, courts in Shanghai have set up a relatively improved financial trial system and trial working system, accumulating experience in financial judicial practice and building up a strong trial team.

The seven articles of the provisions specify the range of first-trial financial civil and commercial cases over which the Shanghai Financial Court has jurisdiction.

The SPC fully investigated and researched the current conditions of Shanghai financial trials and conferred with financial regulators such as the Shanghai branch of Bank of China as well as the Legislative Affairs Commission of the Standing Committee of the National People’s Congress.

The provisions focus on construction of the Shanghai International Financial Center on the basis of trial requirements and related services.