Tue, 31 Oct 2023 China Legal Trends CJO Staff Contributors Team
The Shanghai Financial Court's 2018-2023 Work Report, released in August 2023, highlights its handling of a significant number of financial cases, including securities disputes and financial contract disputes, with a total value of more than CNY1.1 trillion (USD152.19 billion), and provides insights into the court's role in the context of Shanghai's status as an international financial center.
Mon, 21 Aug 2023 China Legal Trends CJO Staff Contributors Team
In May 2023, the Shanghai Financial Court (SFC) concluded China’s first civil compensation case for fraudulent asset-backed securities (ABS) issuance (See Postal Saving Bank of China Co., Ltd v. Kunshan Meijite Dengdu Management Co., Ltd et al. (2020) Hu 74 Min Chu No. 1801).
Sat, 15 Apr 2023 Insights Guodong Du 杜国栋
As China tightens its financial regulation, Chinese courts have taken the initiative to participate in financial regulation by hearing finance-related cases over the last five years.
Mon, 09 Jan 2023 China Legal Trends CJO Staff Contributors Team
In December 2022, the scope of jurisdiction of the Chengdu-Chongqing Financial Court, China’s third financial court, was clarified by the Supreme People’s Court.
Mon, 01 Aug 2022 China Legal Trends CJO Staff Contributors Team
In February 2022, China established the Chengdu-Chongqing Financial Court, the third of its kind following the Shanghai Financial Court and the Beijing Financial Court.
Tue, 11 Jan 2022 China Legal Trends CJO Staff Contributors Team
In December 2021, Shanghai Financial Court recognized and enforced a SIAC award for the first time, involving the impact of Chinese sanctions on international commercial arbitration.
Sat, 29 May 2021 China Legal Trends CJO Staff Contributors Team
In April 2021, China's Supreme Court revised the 2018 Provisions on Jurisdiction of Shanghai Financial Court, based on which the SFC's jurisdiction now extends to, among others, independent guarantee disputes and bank clearing contract disputes.
Mon, 03 May 2021 China Legal Trends CJO Staff Contributors Team
China's second financial court, the Beijing Financial Court was officially established in March 2021, following the SPC's Provisions on the Jurisdiction of the Beijing Financial Court over Cases, and Beijing High People's Court's Guidelines.
Sun, 07 Feb 2021 China Legal Trends Yanru Chen 陈彦茹
In January 2021, the Decision on Establishing the Beijing Financial Court was adopted by the NPC Standing Committee. Following Shanghai Financial Court, Beijing Financial court becomes the second of its kind in China.
Mon, 01 Feb 2021 China Legal Trends CJO Staff Contributors Team
On 4 Jan. 2021, Shanghai Financial Court, for the first time, applied the Civil Code in a case concerning financial loan contract disputes.