Chongqing - On October 9, the "High-Quality Development Research Tour" launched its first thematic interview activity at the Chengdu-Chongqing Financial Court in the Yuzhong District of Chongqing.

On October 9, the "High-Quality Development Research Tour" launched its first thematic interview activity at the Chengdu-Chongqing Financial Court. (Photo/James Alexander)

As the first specialized court with cross-provincial jurisdiction in China, the Chengdu-Chongqing Financial Court was officially inaugurated on September 28, 2022. As of September 25 this year, the court has accepted a total of 7,731 cases with a combined value exceeding 24.3 billion yuan (about 3.33 billion dollars), successfully concluding 5,434 cases.

Uniform Standards for Financial Cases in Both Regions

Officials from the Chengdu-Chongqing Financial Court explained that the court has jurisdiction over financial, civil, commercial, and administrative cases related to finance within the Chengdu-Chongqing economic area, which typically fall under the jurisdiction of intermediate people's courts in Chongqing and Sichuan provinces.

The Chongqing High People's Court hears appeals against first-instance judgments and rulings made by the Chengdu-Chongqing Financial Court. The court's jurisdiction spans all 38 districts and counties in Chongqing, as well as 15 cities and 113 counties (cities, districts) in Sichuan that belong to the Chengdu-Chongqing economic area. 

Chengdu-Chongqing Financial Court. (Photo/James Alexander)

The Chengdu-Chongqing Financial Court has established a unified legal application mechanism for financial trials to ensure consistent judgments.

It has also implemented mechanisms to identify inconsistent judgment standards, restrict related cases, constrain similar cases, aggregate issues related to financial and legal applications, coordinate adjudications, and gather feedback to promptly address issues of inconsistent legal standards, thereby promoting a standardized legal application in financial cases in the Chengdu-Chongqing region.

Over 90% of Cases Filed Online

Inside the litigation service center of the Chengdu-Chongqing Financial Court, a spacious and well-lit hall houses several manned service windows for case-related matters, execution registration, and one-stop services. 

Nearby, a self-service area is equipped with four large-screen computers and intelligent cloud cabinets resembling courier lockers. Surprisingly, there are relatively few litigants coming in person.

The service windows inside the litigation service center of the Chengdu-Chongqing Financial Court. (Photo/James Alexander)

"Our court handles over 90% of cases through online filing, which is why the number of people visiting in person is quite low," said an official from the Chengdu-Chongqing Financial Court. 

The court covers 158 grassroots courts within its jurisdiction, and providing cross-provincial litigation services is one of its key tasks.

The official explained that since its establishment, the Chengdu-Chongqing Financial Court has significantly optimized its one-stop integrated service. It offers 24-hour self-service case filing, providing litigants with intelligent services such as automatic generation of complaint documents, case filing, document review, and material submission through cloud cabinets.

Average Case Resolution Time of 35.15 Days

"In addition to handling bill disputes, we also legally adjudicate disputes related to financial loans, securities, futures, funds, trusts, factoring, and financial leasing, all of which contribute to maintaining market economic order," said an official from the Chengdu-Chongqing Financial Court. 

Over the past year, the court has remained focused on the requirements of high-quality development, fully leveraging and expanding its financial adjudication functions to provide robust judicial support for the development of financial services for the real economy.

The court has intensified investigations, research, and extensive data analysis to extend its financial adjudication functions and enhance the business environment. 

Additionally, in response to issues identified during trials in areas such as trusts, bills, and bonds, the court has alerted relevant entities to financial risks, regulated transaction behavior, and transitioned from post-litigation dispute resolution to pre-litigation risk prevention.

Data reveals that from January 1 to September 25 this year, the Chengdu-Chongqing Financial Court has resolved various financial disputes with an average case resolution time of 35.15 days. 

It has mediated and withdrawn 2,157 cases, effectively reducing the cost of financial services for the real economy with its high-quality and efficient dispute-resolution capabilities.