First YRD financial judicial forum held at Shanghai Financial Court

(     Updated : 2022-07-23

The first judicial forum on financial cases in the Yangtze River Delta (YRD) region was held at the Shanghai Financial Court on July 20. Liu Guixiang, member of the Supreme People's Court (SPC) judicial committee (vice-ministerial level), and Liu Xiaoyun, president of the Shanghai High People's Court, attended the forum and delivered speeches. 

Liu Guixiang pointed out that the integrated development of the YRD region was a key decision made by the central authorities to fully implement the new development concept and build the new development paradigm for a high-quality development, as well as a key strategic move to propel coordinated regional development for a strong and active growth cluster of national development. With the rapid development of the financial industry in the region, the degree of financial openness is increasing, together with complicated financial transactions and new types of disputes, posing new challenges to professional financial adjudication and judicial guarantee efficiency, he said. 

The Shanghai Financial Court, together with the intermediate courts in Nanjing, Jiangsu province, Hangzhou, Zhejiang province, Hefei, Anhui province and Suzhou, Jiangsu province, jointly signed the financial judicial cooperation agreement for the YDR region and established a judicial cooperation framework for the region’s financial development. He urged giving full play to the judicial functions in the financial sector to improve the effectiveness of judicial services in the region, beefing up the professional development of financial trial teams, and improving the regular coordination mechanism to advance in-depth judicial cooperation in the region. 

Liu Xiaoyun pledged that courts in Shanghai will fully implement the cooperation agreement to serve the integrated development of the YRD region, propel reform of the financial trial system to promote opening-up and innovation of the region's financial market, and create new regional characteristics to become a guiding and leading example of judicial cooperation in the region.

Themed on "judicial functions in the financial sector: innovation and exploration", the forum released 10 examplary cases related to the financial sector in the YRD region. Over 100 people from local courts, financial supervision bodies and media attended the forum online and offline.