(ATF) Last month the Supreme People’s Court issued new rules on bond disputes in the judicial system, as reported by ATF, in a bid to unify judgments and legal thinking on these matters, and enhance the openness and transparency of bond trials.
‘Minutes of the National Forum on Trial of Bond Dispute Cases’ was published after two years of research into judicial relief for people caught in bond disputes. The probe was headed by the Securities Department at the China Securities Regulatory Commission (CSRC) and a team that worked with the Supreme Court.
As China’s first systematic judicial document about the legal handling of bond disputes, it is seen as a publication of great significance.
The new system fully implements the government’s ‘zero tolerance’ policy for violations of capital market violations. Considerable effort is being made to maintain the health and stability of the capital market.
Professor Li Shuguang, director of the Bankruptcy Law and Corporate Restructuring Research Center at the China University of Political Science and Law, believes that the release of “Minutes” not only allows public scrutiny of disputes in the bond market, but also gives an insight into deeper considerations.
He said most of the bond default cases that have occurred in recent years are high-risk cases that shake the entire financial market.
Indeed, Li said if these cases are not handled well and the risks cannot be resolved, it will inevitably affect the overall situation of the financial market, the macro economy, and even the stability of the entire society.
The Minutes were released by the Supreme People’s Court for the purpose of serving the country to prevent and resolve financial risks and maintain financial security.
But Li said it actually embodies the overall thinking of supervision, law enforcement, and judicial oversight.
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