Get ready, global biz enthusiasts! China’s Supreme People’s Court (SPC) just announced a bold 15-article guideline to supercharge international commercial courts. The goal? Build a "well-structured, fair, efficient and convenient" system for cross-border disputes with Chinese characteristics.
Here’s what’s in store:
- Optimized jurisdiction rules for smoother case assignments 🗂️
- Enhanced case management powered by digital tools 🚀
- Stronger mechanisms to apply foreign law for legal clarity 🌐
- Wider use of international treaties and best practices 📜
On top of that, the SPC is professionalizing judges and teaming up with global bodies like UNCITRAL and the Hague Conference on Private International Law. It’s the first time the court has mapped out a coordinated plan for both top-level and local international commercial courts.
SPC adjudication committee member Wang Shumei says this move is all about making the Chinese mainland a preferred forum for settling cross-border disputes, ensuring a stable and transparent business environment. Since 2018, two SPC-led courts in Shenzhen and Xi’an plus 16 intermediate courts have been handling international commercial cases nationwide.
To showcase its progress, the SPC released its latest batch of Belt and Road Initiative cases. Highlights include a landmark ruling on standby letters of credit—setting clear Chinese rules for international finance transactions 💳—and an innovative engineering project case in Africa, where judges tackled evidence collection and technical appraisals overseas 🔍🛠️.
These steps are key to China's strategy to strengthen the rule of law in foreign affairs, boosting credibility and legal protection for growing global business activities. Stay tuned—this legal glow-up could change the game for international trade! ✨
Reference(s):
cgtn.com
