Beijing Financial Court pledges aid to struggling enterprises
"We've also decided to coordinate and solve problems in the face of small and medium-sized companies, such as those on loan renewal and loan interruption," Lei Yunlong, head of the court's enforcement department, said while introducing their plans to optimize business environments at a news conference on Monday.
He added that the court will take initiative to learn the difficulties of small and medium-sized enterprises, especially those involving special and emerging fields, aiming to help solve the problems by various measures, such as by debt restructuring and asset optimization.
Regarding business environments as important soft power and core competitiveness for a country or a region, he stressed the need of helping enterprises prevent credit and operation risks by providing efficient legal services.
In July, for example, the court worked with the Beijing Federation of Industry and Commerce to set up a legal team to speed up the handling of financial disputes, he said.
After reviewing market potential, resource advantages and core competitiveness of enterprises, the team, which consists of business experts from the federation, will provide more solutions for the two sides in a financial case, so as to help them end the disputes in a quicker and low-cost manner, according to him.
"Whether to solve disputes through the team depends on litigants," he added.
The Beijing Financial Court, established in March 2021, specializes in hearing finance-related lawsuits in an effort to help China strengthen its financial oversight, promote financial reform, prevent financial risks, improve the handling of monetary disputes and increase the Chinese judiciary's international influence.
It is the second of such court in China. The first one was opened in Shanghai in 2018.
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