Tianjin Court Launches “Judicial Hearing Mechanism for Financial Innovation”
The reporter learned from the Tianjin No. 3 Intermediate People’s Court that on the 4th, the court and the Tianjin Free Trade Zone Court held the “Judicial Hearing Mechanism for Financial Innovation” and the “Intellectual Property Financial Leasing Financial Innovation Model” project launch meeting. More than 60 representatives from research, supervision and related financial leasing companies jointly discussed the service guarantee financial innovation coordination mechanism.
Tianjin No. 3 Intermediate People’s Court and Tianjin Free Trade Zone Court jointly held the “Judicial Hearing Mechanism for Financial Innovation” and “Intellectual Property Financing Leasing Financial Innovation Model” project initiation meeting.Photo courtesy of Tianjin Third Intermediate Court
According to reports, the “Judicial Hearing Mechanism for Financial Innovation” was jointly established by the Tianjin Third Intermediate People’s Court and the Tianjin Free Trade Zone Court, with the participation of enterprises, universities, industry associations, regulatory agencies, judicial agencies and other organizations. Based on the practical and theoretical advantages of learning, research, supervision, and the hearing model, the legal risks, rights and obligations, scope of responsibilities and other related legal issues of “financial innovation products or services” (collectively referred to as the “financial innovation model”) were analyzed and demonstrated, and a consensus was reached. Finally, the service guarantee financial innovation coordination mechanism that gives feedback to relevant parties in the form of “Hearing Opinions”. This mechanism is mainly to provide risk expectations, rule expectations, and responsibility expectations for all participants in financial innovation, and to help financial innovation participants do a good job in risk prevention and pretreatment.
At the meeting, relevant financial leasing companies submitted a proposal on the use of financial leasing of intellectual property rights for invention patents such as biomedicine and chips as a “financial innovation model”. Representatives from industry, academia, research and supervision made comments on the proposal.
Tian Xuexin, a full-time member of the Trial Committee of the Court of Tianjin Free Trade Zone, said that he will focus on the goal of “creating a world-class national leasing innovation demonstration zone”, based on the trial function, deeply cultivate the fertile ground for judicial innovation in the financial field, and cooperate with all parties to help financial development, so that the judiciary Innovation empowers financial innovation and provides strong judicial support for the high-quality development of finance in the jurisdiction.
“Next, we will gradually improve the ‘financial judicial hearing mechanism’ to achieve precise project establishment, refined argumentation, careful cultivation, and refined standards, and provide a new type of judicial public hearing system that is oriented by financial reform and innovation, can be used for reference, can be replicated, and can be promoted. service.” Zhang Lixin, vice president of Tianjin No. 3 Intermediate People’s Court, said that the two levels of courts will use the “financial innovation judicial hearing mechanism” as a starting point to fulfill their duties and missions to serve the country’s major strategies and guarantee the “Ten Actions” of the Municipal Party Committee and Municipal Government. Judicial innovation promotes further development, practical measures, and breakthroughs in financial innovation, and contributes judicial power to the construction of a socialist modern metropolis.