USEUROPEAFRICAASIA 中文双语Français
Business
Home / Business / Finance

China launches first financial court in Shanghai

Xinhua | Updated: 2018-08-21 16:11
China's first court specializing in handling finance-related cases opened Monday in the country's financial hub of Shanghai. [Photo/IC]

SHANGHAI - China's first court specializing in handling finance-related cases opened Monday in the country's financial hub of Shanghai.

The Shanghai Financial Court will be responsible for commercial cases such as disputes involving securities, futures, insurance, bills and financial lending, according to a document by the Supreme People's Court earlier this month.

It will also deal with bankruptcy cases where financial institutions are the debtors and administrative cases with financial regulators as defendants, according to the document.

The court will work to ensure that finance serves the real economy, curb financial risks and deepen financial reform, according to an official release from the Shanghai Financial Court.

China's top legislature approved the establishment of the Shanghai Financial Court in April.

Last year, courts in Shanghai heard more than 179,000 finance-related cases. The number of such lawsuits in Shanghai grew by an average 51 percent year-on-year from 2013 to 2017.

Top
BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US