On 23 Nov. 2020, Shanghai High People’s Court issued the “Several Opinions on Shanghai Court Serving and Safeguarding the Further Expansion of the Opening of the Financial Industry” (上海法院服务保障进一步扩大金融业对外开放若干意见) (“the Opinions”) and six typical cases of foreign-related financial disputes in a press conference.

The six typical cases reported at the press conference included financial derivative transactions, recognition and enforcement of Hong Kong judgments involving Keepwell Deeds, and disputes concerning letters of credit, independent guarantees, export credit insurance, etc. These cases embodied the Shanghai court’s consistent judicial position of upholding equal protection of the legitimate rights and interests of Chinese and foreign entities, respecting international transaction rules and international financial practices, and handling foreign-related financial cases in a fair and efficient manner.