China is looking into establishing the Beijing Financial Court in a bid to improve the country’s judicial system for finance-related cases and ensure a sound law environment for relevant sectors.
A draft decision on the establishment of the court was on Wednesday submitted to an ongoing session of the Standing Committee of the National People’s Congress, China’s top legislature.
According to the draft, the court will have jurisdiction commensurate with an intermediate people’s court in hearing finance-related civil, commercial and administrative lawsuits in Beijing.
It would also deal with cases involving financial market infrastructure, as well as appellate trials of finance-related cases first heard by grassroots level courts in the city.
Zhou Qiang, President of the Supreme People’s Court, said the establishment of the court is expected to promote the high-quality development of Beijing’s economy and further enhance China’s say in the international financial judiciary field. (Xinhua/NAN)
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