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Shanghai Issues White Papers on Financial and Commercial Trials (2020)

Tue, 13 Jul 2021
Categories: China Legal Trends

On 31 May 2021, Shanghai High People's Court (“Shanghai Court”) issued the Chinese-English bilingual versions of three white papers, i.e. “Briefing of Financial and Commercial Trials in Shanghai Courts in 2020” (2020年度上海法院金融商事审判情况通报), “Trial Briefings on Dispute Cases Involving Local Financial Organizations in Shanghai’s Courts 2016–2020” (2016-2020年上海法院涉地方金融组织纠纷案件审判情况通报) and “Ten Typical Financial and Commercial Cases in Shanghai Courts in 2020” (2020年度上海法院金融商事审判十大案例).

The Ten Typical Financial and Commercial Cases covers disputes over trust, false securities statement, insurance contract, financial institution entrusted for wealth management contract, the rank order of floating charge and pledge, financial leasing contract, and bond transaction.   

According to the three white papers, the total value of first-instance financial and commercial cases accepted by Shanghai courts in 2020 fell to CNY 180.604 billion, down 18.58% year-on-year. The top three types of cases by value are disputes over financial loan contracts, financial leasing contracts, and bank cards. At the same time, the top five types of financial and commercial cases accepted by Shanghai courts in 2020 are disputes over bank cards, financial loan contracts, financial leasing contracts, the liability for false securities statements, and property insurance contracts, altogether representing 96.12% of the total number of first-instance financial and commercial cases accepted by Shanghai courts.

 

 

Cover Photo by Liam Li (https://unsplash.com/@nebula5cm) on Unsplash

Contributors: CJO Staff Contributors Team

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