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60 countries can thank city’s courts
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AS part of the city’s development to become a global commercial center, Shanghai courts have resolved business disputes involving companies from more than 60 countries.
From 2012 to 2016, local courts received 4,785 business disputes involving companies from overseas countries along with China’s Hong Kong, Macau and Taiwan, Shanghai High People’s Court said yesterday.
About 66 percent of the disputes concerned foreign companies and about 20 percent disputes involved Hong Kong firms, the court said.
Over five years, the companies were embroiled in disputes involving more than 37 billion yuan (US$5.6 billion).
Of the disputes, 560, or nearly 12 percent of the total, concerned more than 10 million yuan respectively, including one that involved 2.9 billion yuan.
The court didn’t disclose details on individual cases.
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