The New SPC Regulations on the Hearing of Futures Disputes: Striking a Better Balance

September 02, 2003 | BY

clpstaff &clp articles

New SPC rules on disputes over futures trading focus on the primacy of contractual issues, and form a counterpoint to legislation that traditionally has focused on regulating the futures industry at the macro-level.

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By Chua Eu Jin, Clifford Chance, Shanghai

On May 16 2003 the Supreme People's Court (the SPC) adopted a new set of regulations governing the hearing of futures disputes, and they are effective July 1 2003. What will be the impact on court procedures and dispute resolution in the hearing of such cases? Let's take a closer look at the Several Issues Concerning the Trial of Futures Dispute Cases Provisions (the Provisions) and the background to futures trading in China.