Fang Xinghai said, for the Shanghai futures exchange has jurisdiction vested in Shanghai
Shi, director of the Pudong financial service bureau said yesterday, to further implement the "two centers" of Shanghai (international financial center and international shipping center construction, strengthen the financial and shipping joint development, the Pudong New Area will be introduced as soon as possible the Pudong New Area on the promotion of the development of finance leasing companies, "and the Pudong New Area on the promotion of the shipping financial industry development".
Shi Haining made the above remarks at the "2009 session of the third Lujiazui financial Cultural Festival opening ceremony and Pudong financial forum during the construction of the rule of law". The forum is organized by the people's Government of Pudong New Area, jointly hosted by the Pudong New Area Financial Services Bureau and other departments and units.
Shi Haining said that the future will further promote financial leasing support shipping industry development, and explore the issue of shipping financial products, as well as to attract domestic and international well-known shipping financial institutions to the development of Pudong.
Yesterday the news forum also shows that Shanghai has made some breakthroughs in local financial legislation, the settlement mechanism construction has also made great progress in the financial, judicial arbitration and dispute. After the two Pudong New Area and Huangpu District court established financial court, Shanghai High Court and two intermediate courts have set up a finance tribunal. In addition, the Pudong New Area procuratorate established financial crime prosecution, Huangpu District procuratorate prosecution Division established financial.
In the case of Financial Arbitration, the Arbitration Institute of Shanghai financial cases was established in December 2007. Shanghai Financial Arbitration Dean Lufang yesterday at the meeting said that from the last January to November this year, the hospital received a total of cases 98, dispute for a total amount of $629 million yuan, mainly involved in the type for the banking, insurance, securities investment, private lending.
Shanghai Higher People's court vice president Zhang Haitang said, the hospital is not considered from the beginning of next year to the society regularly published a number of financial cases.
On the same day on the same occasion, Fang Xinghai, director of the Shanghai Financial Services Office revealed that Shanghai is striving for the Shanghai futures exchange has jurisdiction vested in Shanghai. It is understood that the Supreme People's court has made clear, all cases involving the Shanghai stock exchange, both the plaintiff and the defendant, where jurisdiction belonged to Shanghai.
"The future will improve the financial legal system, especially according to the needs of the construction of Shanghai international financial center, combing from the perspective of local legislation and fill up the blank of law." Mr Fang said that Shanghai will fill in financial holding company, financial consumer protection, futures and other financial derivatives and other legal blank, at the same time, the existing "securities investment fund law", "trust law" and perfect and update, in order to adapt to the rapid development of the financial industry.
In addition, the participants of the Shanghai Municipal Committee, Pudong New District District Party Committee Secretary Xu Lin said yesterday that will continue to strive for financial innovation in Pudong, "pilot", including: earnestly seek international board market, credit transfer market such as the national level major financial innovation in Pudong "pilot"; to deepen the OTC market, trust registration platform and real estate trust fund reform; strengthen promote financial leasing, bonded delivery of futures and other aspects of policy breakthroughs.
According to Shi Haining revealed that as of the end of 10 this year, Pudong has 593 financial institutions, accounting for the total number of financial institutions in Shanghai 80%.
