Shanghai’s business environment improves as litigation capability grows
A total of 224,000 first-instance commercial cases were finalized in 2020, a year-on-year increase of 7.6 percent, a result of the efforts by the Shanghai High People’s Court to optimize the business environment in the city, according to the court’s president Liu Xiaoyun.
The court issued reports on financial trials and guidelines for legal risk prevention last year for a stable financial market, Liu said at the fifth session of the 15th Shanghai Municipal People’s Congress held in the city on Tuesday.
The court, which has improved the bankruptcy trial system as well, has also launched over 30 related measures with local taxation and financial regulatory departments. It solved a total of 792 bankruptcy cases last year.
News from: Supreme People’s Court of the People’s Republic of China.