In2016,theStandingCommitteeoftheNationalPeople’sCongressrevisedthe“ThreeLawsonForeignInvestment”andimplementedanegativelistmanagementsystemreformontheforeigninvestmentmanagementsystem,greatlyfacilitatingforeigninvestment.Inrecentyears,casesinvolvingdisputesthatanonymousshareholdersofforeign-investedenterprisesaskingforregistration,andequitytransferdisputescontinuetoemerge.Inthepastsixyears,courtsofJiangsuProvincehavetried1,313disputesinvolvingforeign-investedenterprises.Forsuchcases,courtsinthewholeprovinceinsistoncombiningentrustedinvestmentagreementandthefactofcapitalflow,tryingtofindoutthelitigants’trueintention,protectingtheinvestmentrightsandinterestsofbothChineseandforeignlitigantsequally,andenhancingforeigninvestors’confidenceinbusinessenvironmentunderruleoflawinJiangsu.
5.Therearemanydisputesoverlettersofcreditandindependentguarantee
EnterprisesinJiangsuuselettersofcreditandindependentguaranteesaspaymentandfinancingtoolsinmanyfieldssuchasimportandexporttradeandundertakingoverseasprojects.Inthepastsixyears,courtsofJiangsuProvincehaveacceptedmorethan50newcasesoffirstinstanceconcerningdisputesoverforeignlettersofcreditandindependentguarantees.Disputesoverlettersofcreditandindependentletterofguaranteecontainalargenumberofsubjects,arehighlyconcernedbythesocietyandtheindustryandaresubjecttoInternationalpracticesaswellasbankingandfinancialpractices.Whetherthepeople’scourtscancorrectlyhandlesuchdisputeswouldexertinfluenceontheoverseascreditstatusofChineseenterprisesandfinancialinstitutionsandthesmoothprogressofnationalstrategiessuchasthe“BeltandRoad”Construction.
6.Disputesover“GoingGlobal”ofenterprisesareincreasing
Inthepastsixyears,courtsofJiangsuProvincehaveacceptedatotalof54newcasesoffirstinstanceconcerningforeignconstructioncontractdisputes.Overseasinfrastructureconstruction,asanimportantpartof“GoingGlobal”ofChineseenterprise,playsanimportantroleinthe“BeltandRoad”Construction.However,duetothecomplicatedgeopoliticalsituation,differentlevelsofeconomicdevelopmentandgreatdifferencesinlegalenvironmentinthecountrieswheretheprojectsarelocated,disputesoverinternationalconstructionprojectsarealsoincreasing.Difficultissuesintheinternationalprojectcasesexistinthefieldsofjurisdiction,validityofcontracts,settlementofprojectfunds,andascertainmentofforeignlawsandsoon,whichmakesuchcaseshardtobedealtwith.
7.Demandforinternationaljudicialassistanceareincreasing
Withtheadvancementofthe“BeltandRoad”Construction,countrieshavestrengthenedinternationalcooperationintherecognitionandenforcementofcourtjudgmentsandarbitralawardstorealizethefreeenforcementofjudgmentsandawards,whichcanreducethelitigationburdenofthelitigants,savejudicialresourcesandmaintainthestabilityoflegalrelations.However,theconceptofinternationalcommercialarbitrationinthecountriesalongthe“BeltandRoad”routeiscomplexanddiverse,andtheirlegalsystemsareatdifferentstagesofdevelopment.Thesecharacteristicsdeterminethattherearegreatrisksanduncertaintiesininternationalcommerciallitigationandarbitrationintheprocessofpromotingthe“BeltandRoad”Construction.
II.AchievementsinForeign-RelatedCommercialTrialsbyCourtsofJiangsuProvince
I)Furtherimplementationofbestqualitystrategy,paycloseattentiontothefirstpriorityoflawenforcementandhandlingcasesThebestqualitystrategyisasystematicprojectputforwardandimplementedbytheSupremePeople’sCourtinJanuary2010tocomprehensivelyenhancethejudicialcredibilityofforeign-relatedcommercialtrials.CourtsofJiangsuProvincefullyunderstandtheimportanceofthebestqualitystrategyofforeign-relatedcommercialtrialsandfocusonlawenforcementandcasetrailingtocreatehigh-qualitycases.First,thequalityandefficiencydataofalltrialshavebeenstable.Therateofobeyingthetrialwithoutappealforthefirstinstancewas82.9,therateofretrialorjudgmentamendmentforthesecondinstancewas0.7,andtheannualratioofcasesclosedwasabove90.Second,courtsofJiangsuProvincehavetriedanumberofhigh-qualitycaseswithgreatinfluence.JiangsuTaihuBoilerCo.,Ltd.andPT.KrakatauEngineeringCorporationandtheWuxiBranchofBankofChinaLimited,ADisputeoverFraudwithaGuaranteeLetterandKolmarGroupAG,ACaseofanApplicationfortheRecognitionandEnforcementofaCivilJudgmentoftheHighCourtofSingaporehavebeenlistedrespectivelyinthefirstbatchandsecondbatchofTypicalCasesInvolvingthe“BeltandRoad”Construction.ThecoverfeaturearticleofDocumentaryCreditWorldintheUnitedStatesemphasizedonthecaseoffraudwithaguaranteeletterbetweenFarEaseCableCo.,Ltd.,QatarPLIandWuxiBranchofBankofChina.Third,newprogresshasbeenachievedininternationaljudicialcooperation.Ontheonehand,inrecentyears,atotalofsixjudgmentsandrulingsofcourtsofJiangsuProvincehavebeenrecognizedandimplementedinAustralia,Israel,theUnitedStates,Singaporeandothercountrieswithoutjudicialassistancetreaties,whichisthelargestnumberinthecourtsacrossthecountry.Ontheotherhand,courtsofJiangsuProvinceprovidejudicialassistanceinaccordancewiththelaw,demonstratingtheopenandinclusivejudicialattitudeofthepeople’scourts.TheIntermediatePeo