(Adopted at the 1746th Session of the Adjudication Committee of the Supreme People's Court on July 31, 2018; and amended in accordance with the Decision of the Supreme People's Court to Amend the Provisions on the Jurisdiction of the Shanghai Financial Court, as adopted at the 1833rd Session of the Adjudication Committee of the Supreme People's Court on March 1, 2021, taking effect from April 22, 2021)
The Provisions are formulated in accordance with the Civil Procedure Law of the People's Republic of China, the Administrative Procedure Law of the People's Republic of China, the Decision of the Standing Committee of the National People's Congress on Establishment of the Shanghai Financial Court and other provisions, in order to serve and support the building of Shanghai into an international financial center and to further clarify the specific scope of cases under the jurisdiction of the Shanghai Financial Court.
Article 1 The Shanghai Financial Court (SFC) shall have the jurisdiction over the following first-instance financial civil and commercial cases that fall under the jurisdiction of intermediate people's courts in Shanghai Municipality: (1) Financial civil and commercial disputes over, among others, securities, futures trading, commercial trust, insurance, negotiable instruments, letters of credit, independent guarantee, factoring, financial loaning contracts, bank cards, financial leasing contracts, entrusted wealth management contracts, deposit contracts, pawn broking, and bank settlement contracts; (2) Financial civil and commercial disputes arising from asset management, asset-backed securities, private placement funds, foreign exchange business, financial product sales and suitability management, credit reference, payment and other financial business approved by the financial regulatory authorities; (3) Company-related disputes with respect to financial institutions; (4) Bankruptcy disputes in which financial institutions are the debtors; (5) Arbitration-related judicial review cases of financial civil and commercial disputes; (6) Applications for recognition and enforcement of judgments and rulings by courts of Hong Kong Special Administrative Region, Macao Special Administrative Region and Taiwan Region on financial civil and commercial disputes, and applications for recognition and enforcement of foreign judgments and rulings on financial civil and commercial disputes. Article 2 The SFC shall have the jurisdiction over the following financial civil and commercial disputes: (1) Any lawsuits filed by any domestic investors with the SFC on the grounds that their legitimate rights and interests have been impaired by matters relating to securities issuance and trading activities or futures trading activities outside the territory of the People's Republic of China; (2) Any lawsuits filed by any domestic individuals or institutions with the SFC on the grounds that their legitimate rights and interests have been impaired by financial products sold or financial services provided by the financial institutions outside the territory of the People's Republic of China. Article 3 The SFC shall have the original jurisdiction over civil and commercial cases of disputes in relation to or arising from securities issuance, underwriting contracts, listing sponsoring contracts, listing contracts and securities fraud in respect of companies listed on the Science and Technology Innovation Board in the Shanghai Stock Exchange. Article 4 The SFC shall have the original jurisdiction over financial civil and commercial cases and finance-related administrative cases with the Shanghai Stock Exchange as the defendant or the third party in relation to its supervisory functions. Article 5 The SFC shall have the original jurisdiction over financial civil and commercial cases with any legally established and Shanghai domiciled financial market infrastructures as defendants or third parties in relation to their functions. Article6 The SFC shall have the original jurisdiction over the finance-related administrative cases that fall under the jurisdiction of intermediate people's courts in Shanghai Municipality and where any actions are brought against the administrative actions made by the financial regulators and organizations authorized by laws, regulations and rules when performing their financial regulatory duties. Article 7 The SFC shall hear the appeals and retrial applications brought by the parties to first-instance judgments and rulings made by the primary people's courts in Shanghai relating to financial civil and commercial cases and finance-related administrative cases in respect of Paragraphs (1) - (3) of Article 1 of the Provisions. Article 8 The SFC shall hear the retrial cases of financial civil and commercial cases and finance-related administrative cases that fall under the jurisdiction of intermediate people's courts in Shanghai Municipality. Article 9 The SFC shall enforce the effective first-instance judgments of civil and commercial cases and finance-related administrative cases rendered by the SFC, as well as the arbitral awards in respect of financial civil and commercial disputes that should be enforced by the intermediate people's courts within the jurisdiction of Shanghai Municipality. The SFC shall hear the cases of enforcement objection review and enforcement objection litigation arising from its enforcement, as well as the appellate cases of enforcement objection review and enforcement objection litigation arising from the enforcement of financial-related cases by the primary people's courts in Shanghai. Article 10 An appeal case filed by a party against a first instance judgment or ruling rendered by the SFC shall be heard by the Shanghai High People's Court. Article 11 The First and Second Intermediate People's Courts of Shanghai Municipality shall continue to hear the financial civil and commercial cases and finance-related administrative cases that have been accepted by them before the establishment of the SFC but have not yet been concluded. Article 12 The Provisions shall come into effect as of August 10, 2018.
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