The Beijing Bankruptcy Court, launched on Jan 30, is expected to help deepen supply-side structural reform and support Beijing's high-quality economic development.

At the launching ceremony, Liu Guixiang, full-time member of the judicial committee of the Supreme People's Court (SPC), congratulated the new court's officials on behalf of SPC President Zhou Qiang and pointed out that the court will play a role in Beijing's economic growth.

The new court features three workshops, four litigation service centers, five tribunals and six accessory trial rooms.

Cases of compulsory liquidation and bankruptcy of companies approved by the industry and commerce administration at the municipal level and above in Beijing are under the jurisdiction of the Beijing Bankruptcy Court, as are derivative suits.

Cross-border bankruptcy cases are also accepted by the court.

In addition, Liu urged other courts in Beijing to appreciate the value of bankruptcy cases, improve judging capacity in them and increase international exchange regarding them to create a sound business climate.

Kou Fang, president of the Beijing Higher People's Court, reiterated the need to strengthen judicial trials of bankruptcy cases and offer a strong judicial guarantee for the high-quality economic growth of Beijing.