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The Nanjing International Commercial Court was unveiled on Thursday after gaining the approval from the Supreme People "s Court, making Nanjing the third city in the province to launch an international commercial court after Suzhou and Wuxi. The Nanjing Court is also the eleventh international commercial court established in China, making Jiangsu the province with the largest number of international commercial courts.
Unveiling the Nanjing International Commercial Court were Han Liming, member of the Standing Committee of the Jiangsu Provincial Party Committee and Secretary of the Nanjing Municipal Party Committee, and Xia Daohu, Secretary of the Party Group and President of the Provincial Court.
The Nanjing International Commercial Court will focus its jurisdiction on cases involving international commercial disputes of less than 5 billion yuan by establishing a one-stop and integrated regional international commercial dispute resolution center.
Located at the intersection of the "the Belt and Road" and the forefront of opening up, Nanjing has frequent international commercial activities. In recent years, the number of foreign-related civil and commercial cases accepted by courts in Nanjing has steadily increased year by year, and new types of cases are constantly emerging, posing higher requirements for ensuring judicial services and opening up to the outside world.
In the past, disputes between enterprises or individuals in international trade were usually resolved through arbitration, which would consume a lot of time and money.
Establishing an international commercial court to achieve centralized and specialized trial of international commercial cases can not only meet the needs of local enterprises for efficient, professional, and fair dispute resolution, but also improve the credibility and effectiveness of the ruling results.
The Nanjing International Commercial Court will continue to deepen the innovation of its work mechanism, including foreign service and extraterritorial investigation and evidence collection, and create an intelligent litigation service model that is in line with international standards and convenient for parties involved in international commercial cases so as to continue to enhance the international influence and credibility of international commercial trials by courts in Jiangsu, and create a first-class international and legal business environment.
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