On the morning of April 17, as part of the U.S.-China Track II Economic Dialogue, the U.S. delegation led by Stephen A. Orlins, President of the National Committee on U.S.-China Relations, visited the Shanghai Financial Court (SFC). Through site tours and discussions, the delegation gained in-depth understanding of China’s financial judicial practices. The SFC President Zhao Hong accompanied the delegation and presided over the discussions.
President Zhao extended a warm welcome to the U.S. delegation. She noted that since its establishment in 2018, the SFC has consistently maintained an open stance, continuously promoting international judicial exchanges, cooperation, and mutual learning of judicial expertise. She expected the delegation to feel in person the vitality and contemporary spirit of China’s financial judiciary during their visit.
The delegation watched a feature video on the court. President Zhao gave a general introduction to the court’s development, emphasizing its exemplary and signature practices as China’s first specialized financial court. “China is relatively young in terms of financial adjudication, but here in this dynamic environment of Shanghai, the Shanghai Financial Court directly faces challenges from new business models and case types, actively addresses new issues, has established a series of replicable and scalable mechanisms, and has adjudicated a number of typical cases with rule-setting significance,” said President Zhao, adding that despite the differences between the national contexts and judicial systems of China and the U.S., both sides share the common goals of maintaining financial stability, ensuring market fairness, and pursuing the advancement of the rule of law. “As a saying goes, ‘No mountain and ocean can distance people with shared aspirations.’ I hope this visit marks a new beginning for us to continuously enhance understanding, increase mutual trust, share experiences, and work together to build a fairer, more orderly, and more equitable international financial rule-of-law environment,” she continued.
President Orlins, on behalf of the U.S. delegation, thanked the SFC for its gracious hospitality and shared his impressions. He said that the visit was substantive, with in-depth and fruitful exchanges. The U.S. delegation deeply appreciated the court’s remarkable achievements in specialized adjudication systems, digital judicial empowerment, and international development, gaining a more comprehensive and profound understanding of China’s financial judicial developments. “The Shanghai Financial Court is really brilliant,” he said, hoping for more diverse forms of dialogue and exchange in the future to continue fostering mutual understanding.
The two sides had a candid and engaging discussion on topics including the judicial system of specialized courts, mutual learning between statutory law and case law, and margin trading mechanisms. President Zhao presented the U.S. delegation with copies of A Collection of Typical Cases from Shanghai Financial Court (English Edition) and other publications.
During the visit, the U.S. delegation toured the litigation service center, the foreign-related courtroom, and the cultural exhibition hall, experiencing firsthand the intelligent voice transcription system for court hearings and the smart kiosk for the protection of small and medium-sized investors, and other digital judicial innovations.
Attendees to the discussions included Shan Suhua, Vice President of the SFC, Tian Jun, Director of the Political Department, Fu Wang, Standing Member of the Adjudication Committee, Li Feng, Deputy Dean of Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University, along with heads of relevant departments, judges, and judge assistants.
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