Recently, the Supreme People’s Court issued "Opinions of the Supreme People’s Court on Providing Judicial Protection for Improving the Business Environment" (hereinafter referred to as the "opinions"). In view of the fact that the People’s Court has effectively brought its judicial function into full play, and in order to improve the investment and market environment, We will create a stable, fair, transparent and predictable business environment, speed up the construction of a new open economic system to provide more effective judicial services and protection, and put forward 22 views.
At the 16th meeting of the Central leading Group on Finance and Economics, held not long ago, General Secretary Xi Jinping stressed that "it is necessary to improve the investment and market environment, speed up the pace of opening to the outside world, and reduce the operating costs of the market." We will create a stable, fair, transparent and predictable business environment, speed up the construction of a new open economic system, and promote the sustained and healthy development of our economy. " In order to thoroughly study and implement the spirit of General Secretary Xi Jinping's above-mentioned important speech, the Supreme People’s Court has made work arrangements on how to give full play to the role of judicial functions and earnestly promote the improvement of the business environment. From the market subject, market access, market transactions, market withdrawal, credit construction five links, formulated and issued the "opinion."
As for the market subject, the opinion requires that all kinds of market subjects should be protected equally in accordance with the law, and that the legal system of the main body of the socialist market economy should be improved. In view of the implementation of the principle of equal protection, the opinion clearly stipulates that the work requirements for the equal protection of different ownership bodies, market subjects in different regions, and interests in different industries shall be fully implemented. We will adhere to the principles of equal legal status, equal protection of rights and equal opportunities for development of all kinds of market subjects, and promote an equal, orderly and dynamic legal business environment. At the same time, we should promptly sum up the problems existing in the concrete application of the General principles of Civil Law of the People’s Republic of China, study and solve them according to the situation, and promote the further improvement of the legal person system of the socialist market economy. It is necessary to properly issue relevant judicial interpretations of company law, correctly handle disputes such as the validity of company resolutions, shareholders' right to know, the right to distribute profits, the right to preemption and shareholder's representative litigation, strengthen the protection of minority shareholders, and promote the improvement of the corporate governance structure.
In terms of market access, the "opinions" make detailed provisions on accurately grasping market access standards and on building new institutions for serving an open economy. It is necessary to do a good job of linking up with the reform of the commercial system, to promote the solution of the legal application after the reform of the registered capital subscription registration system, and to actively promote the establishment of a nationwide unified registration platform for all kinds of property rights and financial transactions. It is necessary to accurately grasp the contents of the negative list system for foreign investment and the changes in the list, and properly handle the legal application problems arising from the gradual liberalization of the field of foreign investment involving restrictions on access to foreign investment and restrictions on stock ratio. Create a more open, equitable and convenient investment environment. It is necessary to exercise judicial jurisdiction in accordance with the law, try all kinds of foreign commercial and maritime cases fairly and efficiently, and protect equally the procedural rights and substantive rights and interests of Chinese and foreign parties. Attention should be paid to strengthening international judicial assistance with countries along the "Belt and Road", perfecting relevant working mechanisms, resolving disputes in a timely manner, and serving and safeguarding the implementation of major national strategies such as "Belt and Road". It is necessary to strengthen the trial of civil and commercial affairs in the free trade experimental area, actively cooperate with various reform measures in the free trade test area, try all kinds of cases in the free trade test area fairly and efficiently, and provide judicial guarantees for the construction of a new system of open economy. In order to provide a good legal guarantee for foreign investment, it is necessary to put forward proposals for legislation and amendment of the law and formulate and revise the judicial interpretation in due time.
In terms of market transactions, the opinions emphasize the need to ensure fair and just market transactions and to effectively safeguard the legitimate rights and interests of market trading subjects. We should make every effort to strengthen the protection of property rights, perfect all kinds of market transaction rules, properly handle cases involving property rights protection, and consolidate the institutional basis for a good business environment. It is necessary to try all kinds of contract cases according to law, reasonably judge the contractual effectiveness of various types of transaction models and innovative trading structures, strictly recognize the nature, validity, revocability and rescission of contracts, and properly handle the intersection of civil conduct and civil and criminal justice, Respect the freedom of contract and safeguard the justice of contract. To deal with all kinds of financial cases, we should give prominence to serving the real economy, guide and standardize all kinds of financial behaviors; It is necessary to carefully examine the trading models and the effectiveness of contracts of various types of financial innovation, crack down on all kinds of financial crimes and violations, strengthen the protection of financial consumers, and vigorously promote the professionalization of financial trial institutions and teams. It is necessary to handle all kinds of intellectual property cases strictly according to law, improve the working mechanism of intellectual property rights, strengthen the protection of intellectual property rights, and raise the level of intellectual property protection. Pay attention to the comprehensive use of civil, administrative and criminal means to severely punish all types of intellectual property rights violations and criminal acts, according to law to let violators pay the corresponding price. It is necessary to properly deal with cases that undermine the rules of market competition and regulate all kinds of monopolistic and unfair competition acts; Further standardize the administrative licensing and examination and approval of administrative organs and break the monopoly of departments and local protection by establishing and perfecting the judicial jurisdiction system which is separated from the administrative divisions; In order to promote the establishment of a unified and open socialist market system to promote orderly market competition. It is necessary to comprehensively construct the pattern of comprehensive management of the difficult work of execution, strengthen the work of enforcement, and fully guarantee the realization of the legitimate rights and interests of the successful litigants.
In the aspect of market withdrawal, the "opinion" demands that we should strengthen the construction of bankruptcy system mechanism and perfect the cure and withdrawal mechanism of socialist market main body. It is necessary to improve the starting mechanism of bankruptcy procedure and the identification mechanism of bankrupt enterprises, and solve the problem of filing bankruptcy cases. At the same time, actively explore the complexity of simple diversion according to the degree of bankruptcy cases, promote the establishment of a simple and efficient fast trial mechanism. We should promote the improvement of the system of bankruptcy reorganization and reconciliation, adhere to the market-oriented orientation to carry out bankruptcy reorganization work, and promote the regeneration of valuable enterprises in distress. It is necessary to severely crack down on all kinds of acts of "escaping and eliminating debts," and earnestly safeguard the legitimate rights and interests of market subjects. With regard to the bankruptcy supporting system, the opinion clearly states that it is necessary to promote the establishment of a special fund for bankruptcy expenses to support the costs of "no property breakable" cases. To promote the formulation of preferential tax laws and regulations for bankrupt enterprises in such areas as debt exemption and property disposal, to coordinate and resolve the problem of credit restoration of successful restructuring or reconciliation enterprises, and to actively coordinate the government's use of financial incentives to make up funds or to set up special funds. In order to properly handle the issue of placement and protection of workers and interests. It is necessary to strengthen the professional construction of bankruptcy trial organizations and bankruptcy administrators and promote the continuous improvement of the overall working level of bankruptcy trials.
In the area of credit construction, the opinion stipulates that we should promote the construction of a social credit system and provide credit protection for the continuous optimization of the business environment. It is necessary to make full use of the means of information, to explore the path of deep integration between the construction of social credit system and the trial execution of the people's court, and to promote the establishment and improvement of the mechanism of sharing and using the judicial big data related to the credit information of the market subject. Promote the sustainable improvement of social credit system. It is necessary to severely punish false litigation acts and promote the construction of good faith in litigation. The "opinion" requires that we should strengthen the credit punishment of the people who have broken their promises, continuously improve the publication of information on the list of those who have broken their promises, limit the high consumption of the executors, and severely punish those who have broken their promises. At the same time, it is necessary to promote the improvement of the credit punishment pattern of "one breach of faith, limited everywhere", to promote the construction of social integrity, and to achieve long-term governance.
*The original text is Chinese and has been translated into English for reference only. If there is any inconsistency or ambiguity between the Chinese version and the English version, the Chinese version shall prevail.