A work conference intending to promote alternative dispute resolution (ADR) of securities and futures disputes was held at the Supreme People's Court (SPC) on Nov 30.

At the meeting, Zhou Qiang, chief justice and president of the SPC, stressed the significance of adopting ADR in securities and futures-related cases and said courts at various levels in China must make full use of the mechanism to promote a sound and stable development of the capital market and contribute to high-quality economic growth.

According to the meeting, pilot work of a joint ADR mechanism started in May 2016. The project was initiated by the SPC and the China Securities Regulatory Commission (CSRC) and is intended to resolve securities and futures disputes and protect the legitimate interests of investors.

Today, a network of ADR mediation covers various aspects of the capital market and reaches many provinces and cities.

Fan Yuxuan, professor at the Law School of Renmin University of China as a representative of the third party evaluation agency, announced at the conference that the mechanism has met the requirements for wide use around China.

The top court has issued more than 40 judicial interpretation and regulations to ensure a unified practical use of laws for securities and futures cases. All courts must strengthen enforcement, protect investors' interests and safeguard operational rights of the listed companies and securities institutions in accordance with the law.

The Shanghai Financial Court, established in August this year, has set a positive example in optimizing China's financial judicial system and improving judges' professional level in handling such cases.

In addition, Zhou emphasized that promoting ADR mechanism in securities and futures also plays a role in creating a sound business climate and enhancing the construction of capital market system.

He suggested that mediation groups and mediators should be introduced to litigation service centers to offer the parties judicial assistance in various areas. Meanwhile, typical cases should be shared between courts to provide references for judges and improve the trial system.