Shanghai inaugurated the Shanghai International Commercial Court on Monday, aiming to bolster its international legal framework and establish itself as a preferred destination for resolving commercial disputes involving foreign entities.
The court will exercise centralized jurisdiction over foreign-related commercial cases, underscoring Shanghai's commitment to exploring and refining mechanisms for international commercial adjudication tailored to high-level institutional openness.
As a globally connected metropolis at the forefront of China's reform and opening-up, the city seeks to enhance its international legal profile.
Housed within the Shanghai First Intermediate People's Court, the new court plans to draw on valuable experiences from other cities' international commercial courts while catering to the unique needs of the China (Shanghai) Pilot Free Trade Zone's liberalized investment and trade regime.
"By leveraging the pioneering initiatives of the Shanghai FTZ, established in 2013, the court aims to construct a more professional and efficient international dispute resolution system and explore a 'Shanghai model' for resolving foreign-related commercial disputes," said Xi Xuefeng, vice-president of the intermediate court.
The court's establishment aligns with Shanghai's broader efforts to position itself as an international hub for economics, finance, trade, shipping, and science and technology innovation. These ambitions demand a higher level of professionalization and internationalization in the city's foreign-related adjudication mechanisms, court officials said.
Professionalism, internationalization and digitalization are set to be the guiding principles for the new court. Adjudication mechanisms and standards aligned with international norms will be developed and digital technologies will be employed to enhance international commercial adjudication, officials noted.
"Digital technologies will help address long-standing bottlenecks that have restricted the quality and efficiency of international commercial trials, such as remote evidence authentication and extraterritorial investigation and evidence collection," said Jia Yu, president of the Shanghai High People's Court.
"The court must also lead reforms and innovations, establish exemplary cases with rule-setting significance, and participate in the formation of international commercial rules, contributing to China's influence in the global judicial arena," he added.
Experts expressed optimism about the court's potential to attract more international commercial entities to invest in Shanghai, thereby boosting the city's economic development and global influence.
"By providing impartial, transparent and efficient judicial services, the Shanghai International Commercial Court is expected to enhance international commercial entities' trust in Shanghai's legal environment and further drive the city's openness and economic growth," said Ni Di, a deputy to the National People's Congress and a senior captain at COSCO Shipping Seafarer Management Co.
Wang Weijun, secretary-general of the Shanghai International Economic and Trade Arbitration Commission, highlighted the court's exclusive jurisdiction over arbitration judicial review cases. This, she said, will enhance Shanghai's arbitration judicial review capabilities and help cultivate world-class arbitration institutions in the city.
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