Think tank aids Beijing Financial Court

The Beijing Financial Court has established a think tank of financial experts to face new challenges in the financial industry and ensure cases could be heard in a more professional manner.

Since the court opened on March 18 last year, it has made high-quality case handling and legal services a top priority, aiming to contribute to China's economic development and meet people's financial demands, Li Yanhong, vice-president of the court, told media on Wednesday.

Li confirmed that the country is witnessing a rising number of problems and challenges in the financial industry, and she highlighted the importance of improving professionalism in dealing with relevant cases.

"To that end, we've invited 26 financial experts to join our think tank to provide professional aid for judges so they can solve new, major and complicated financial disputes," she said.

Meanwhile, the court has also issued a few guidelines focusing on loan contracts and financial arbitration to consolidate case handling standards, she added.

The court, located in the capital's Xicheng district, specializes in hearing finance-related lawsuits. It aims to help the country strengthen its financial oversight, contribute to financial reform, prevent financial risks, improve the handling of monetary disputes and increase the Chinese judiciary's international influence.

Since the intermediate-level court was set up in Beijing, it has handled 6,275 disputes, 4,476 of which were civil cases. The cases mostly involved banks, securities and insurance, according to the court.

To promote the efficiency and convenience, the court has also taken measures to make it easier for litigants to resolve their financial disputes.

For example, it established a "noon courtroom" and an "evening courtroom" to help employees with difficulties in attending trials during working hours to solve problems in their spare time.

Additionally, judges have visited financial and technological institutes to jointly research new financial issues, such as data rights and personal information protection, to create a sound financial environment and keep the market in order, Li added.

The Beijing Financial Court is the second such court in the nation. The first opened in Shanghai in 2018.