By unveiling a string of measures to safeguard financial justice, the Shanghai Financial Court, the first in China to specialize in dealing with financial disputes, has gained increasing credibility and influence among foreign businesses and individuals, court officials said on 26 August 2021, the eve of the third anniversary of its founding.

"We have stepped up efforts to ascertain foreign laws when dealing with disputes involving foreign parties. Also, last month, we published a trial guide for use when dealing with disputes involving foreign enterprises and individuals as well as those from China's Hong Kong, Macao and Taiwan." said Zhao Hong, president of the court.

The court said it has been using a smart interpreter system since December 2019, when it became the first in China to do so. The system provides voice-to-text conversion in real time, with Chinese and English versions shown on a screen in the courtroom. Dozens of experts in financial justice have been invited to join the court's expert panel to boost its authority in dealing with disputes in various fields. The latest batch of 15 experts from home and abroad joined in June.

Statistics from the court showed that as of 25 August 2021, it had accepted more than 21,700 financial disputes of various kinds, involving nearly 547 billion yuan ($84 billion), and has concluded 20,050 cases. Putting typical examples of concluded cases on international legal information systems, the court has been retrieved more than 360,000 times and been downloaded and cited 11,000 times by users at home and abroad.

Source:
http://english.court.gov.cn/2021-08/20/content_37546367.htm (English)