The Dream Factory of China

Source :Qianhai Communication Center

The Shenzhen Financial Court, the first of its kind in the country, has been making unremitting efforts to provide a law-based market-oriented business environment in Qianhai.

Inaugurated in December 2017, the court is responsible for Shenzhen’s first-instance financial, civil and commercial cases that are not under the jurisdiction of the community-level courts, and hearing appeals against rulings of financial, civil and commercial cases made by community-level courts.

The court has heard more than 7,000 financial cases over the past three years, and closed nearly 6,000 such cases.

As the number of cases continues to rise, the court has established a quick-decision team for the hearing of second-instance financial cases, which have been closed within one month.

According to Yuan Yinping, president of the Shenzhen Financial Court, the court has undertaken the same task of reform and innovation.

In April, the court formed a work system for securities-related cases. The work system was named a legal innovation case of Shenzhen and an outstanding case for the law-based modern governance of Shenzhen in 2020.

“In order to further improve efficiency and professionalism, we have introduced and cultivated a group of legal professionals. About 90 percent of our judges hold a master’s degree or above,” said Yuan. “In addition, we have set up a financial expert consulting system and hired 20 experts from renowned financial institutions and universities such as the Shenzhen Stock Exchange, Shanghai Futures Exchange and Peking University to help solve problems encountered during the hearing of financial cases.”

The court has also worked with financial regulatory authorities, financial institutions and industry associations in hearing commercial disputes.