On June 9, 2023, “Financial Opening-up and Cooperation with Legal Guarantees”, an international symposium of the 14th Lujiazui Forum, was held in Shanghai. Experts from the international financial industry, legal field, and regulatory agencies, along with representatives from the Supreme People’s Court and Shanghai courts, gathered to have heated discussions about cutting-edge issues in the financial and legal sectors, from concepts and rules to technology. Liu Guixiang, permanent member of the Supreme People’s Court’s Judicial Committee (vice-minister level), and Jia Yu, secretary of the Party Leadership Group and president of the Shanghai High People’s Court, attended the meeting and delivered speeches. Other participants included Jin Penghui, deputy director of the Shanghai Head Office of the People’s Bank of China (PBOC) and president of PBOC’s Shanghai Branch, Zhao Hong, secretary of the Party Leadership Group and president of the Shanghai Financial Court (SFC), Qian Jun, professor of Finance and executive dean at Fanhai International School of Finance, Fudan University, Aedit Abdullah, High Court Judge of the Supreme Court of Singapore, Nitzan Shilon, Associate Professor at the School of Transnational Law at Peking University, and John Harold Rogers, former Senior Adviser to the Board of Governors of the Federal Reserve System, Washington, D.C.. During the symposium, Zhao Hong shared the SFC’s experiences. As the first specialized financial court in China, the SFC has, in its more than four years of existence, persistently harnessed the effectiveness of financial justice to serve and ensure high-level financial opening-up. Additionally, it has placed great importance on handling foreign-related financial cases, has been committed to supporting the development of Shanghai as an international financial center, and has developed a series of experiences in exploring new approaches for financial judicial services to support high-level reform and opening-up. These experiences are replicable and can be promoted in other places. The first is to emphasize the role of the adjudication, ensuring high-quality and efficient resolution of foreign-related financial disputes. The second is to extend judicial functions to guarantee financial institutional openness. The third is to promote international communication and advocate international exchanges and cooperation in financial judicature. Zhao Hong stated that the SFC will always, focusing on its financial adjudication function, make all-out efforts to serve the development of Shanghai as an international financial center, and ensure the constant deepening of China’s high-level financial opening-up. It is willing to strengthen communication with other countries and various sectors of society, build up consensus, and contribute to the healthy and stable development of global financial markets based on the force of law. This forum was hosted by the Shanghai Municipal People’s Government, the People’s Bank of China, the National Financial Regulatory Administration, and the China Securities Regulatory Commission. Wu Jinshui, member of the Party Leadership Group and vice president of the Shanghai High People’s Court, delivered the opening remarks, and Luo Peixin, member of the Party Committee and deputy director of the Shanghai Judicial Bureau, presided over the special session.
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