Procuratorate set up in Qianhai-Shekou FTZ

Source :Shenzhen Daily

　　A PROCURATORATE was officially set up at the first anniversary of the China (Guangdong) Pilot Free Trade Zone Qianhai and Shekou Area of Shenzhen (Qianhai-Shekou FTZ) yesterday morning.

　　Cao Jianming, chief prosecutor of the Supreme People’s Procuratorate, and Ma Xingrui, Shenzhen’s Party chief, unveiled a plaque at the procuratorate launch ceremony.

　　Authorities said the procuratorate will handle legal issues for both the free trade zone and the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone.

　　The institute is meant to safeguard the rights and interests of financial enterprises, protect the development of the financial sector, create a fair and healthy business environment, provide services for cross-border companies and those having their business in the Belt and Road countries and regions, help implement policies for the negative list, which lists all the sectors and industries that are off-limits to enterprise investors, and support public interest litigations.

　　The newly established procuratorate is said to apply high-tech means and borrow the advanced practices from developed countries and areas in its daily work. It will also work closely with the related Hong Kong and Macao institutions to face the challenges brought by enterprises and individuals.

　　It will also recruit talent among legal experts across the world and build a think tank.

　　Ahead of forming the procuratorate, many innovative legal measures were set by the local authorities. For instance, an international arbitration court with 870 international arbitrators settled in the zone, a notary office opened and five Guangdong-Hong Kong law firms were granted operation rights.

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2016-04-28 15:24:00

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