The Supreme People's Court of China will strengthen judicial responses to new types of financial cases such as virtual currencies

On February 25, the Supreme People’s Court of China held a press conference on “Judicial Services and Guarantees for the High-Quality Development of the People’s Court Civil and Commercial Trial Services.” The Supreme Court stated that in the new year, it will formulate judicial interpretations on civil compensation for insider trading, market manipulation, and other issues in the securities market, and conduct in-depth research on judicial responses to new financial cases such as private equity funds and virtual currencies to improve the financial judicial protection system. At the same time, the Supreme Court will continue to carry out research and guidance on improving the governance structure of private enterprises, further ensure equal legal protection for the legitimate rights and interests of private enterprises and entrepreneurs; accelerate the issuance of supporting judicial interpretations for the new Company Law, and strengthen judicial research and trial guidance on disputes involving various market entities. Additionally, the Supreme Court will continue to promote the establishment of bankruptcy courts, improve the bankruptcy trial mechanism, and prepare judicially for the revision of bankruptcy law. (China Daily)