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International judicial center on finance announces first 5-year plan

The Shanghai Financial Court is planning to apply to set up an international financial judicial center in the following five years.

The Shanghai Financial Court is planning to apply to set up an international financial judicial center and build it into a one-stop platform for international financial dispute handling, financial judicial research and communication, the court announced Thursday in its first five-year plan.

According to the court, by Wednesday, it had accepted 2,351 cases involving a total amount of over 35.4 billion yuan (US$5.3 billion) since it was established in August last year.

In the following five years, the court will also work on forming an international financial court alliance and enhancing its communication with extraterritorial professional financial judicial institutions.

It will strengthen the building of its expert juror team and its expert counseling system of professionals from home and abroad, and also invite experienced and renowned national and foreign financial legal experts to form an expert committee to deal with important cases.

High technology like speech recognition construction, simultaneous interpretation, and “cloud” trial service systems will be introduced to its intelligent court construction.

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