File photo/CFP

Approve by China's Supreme People's Court, the Suzhou International Commercial Court has been launched in Suzhou Industrial Park, also the country’s first such court to handle international commercial cases set up in a local court.

As part of Suzhou Intermediate People's Court, the new court is tasked with handling international civil and commercial disputes that are in areas under Suzhou’s jurisdiction and involve the monetary value of a claim of less than 5 billion yuan. The new court will handle appeals from foreign-related civil and commercial cases heard in Suzhou Industrial Park People's Court as well as those foreign-related cases or cases in the nature of open economy heard in Suzhou Intermediate People's Court.

In response to the Belt and Road initiative, further opening up, and the development of the Suzhou area of the Jiangsu Pilot Free Trade Zone, the newly established court will provide judicial services to Chinese and foreign parties on an equal basis and ensure the services efficient and targeted. The court will provide timely and effective judicial support for Chinese and foreign market entities, explore a one-stop mechanism to address international commercial dispute, and carry out studies on commercial disputes related to the free trade zone.

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