Tu: Five key points in the construction of legal system of international financial Center

Shanghai, July 15 (Xinhua) Shanghai Municipal Committee, deputy mayor Tu 15th, said that the Shanghai International Financial center of the legal Environment, need to be in the financial law system, financial supervision system, financial dispute resolution mechanism, financial legal services, financial law education and other 5 focus.　　The "financial development and rule of law Construction" Forum, hosted by the Chinese Law Society, was held in Shanghai 15th, Tu said at the opening ceremony. Tu said that at present, there are still some legal gaps in the deposit insurance system, equity investment fund, private fund, financial futures market withdrawal, financial institution comprehensive operation, financial holding company and financial consumer protection. There is no more complete regulation on the legislation of futures industry, the legislation of financial derivative products and the management of financial state-owned assets.　　, trust law lags behind market practice, and there is a gap between the requirements of financial tax system and international practice in Shanghai. Tu said that in order to build an international financial center in Shanghai, we must strengthen and perfect the financial laws and regulations in line with the needs of Shanghai and conform to the requirements of the central government. In the aspect of financial legislation, Shanghai can first try the protection of financial consumers ' rights and interests.　　He said that the Shanghai Municipal People's Congress has recently considered the adoption of the Shanghai International Financial Center Construction Ordinance, which is a useful exploration of local legislation in Shanghai. In the improvement of financial supervision system, TU said that China's financial supervision system is divided into supervision, vertical supervision as the main characteristics. Shanghai needs to achieve more effective supervision under the premise of following the basic system. He said that financial innovation is an important factor in promoting the development of international financial center, and financial supervision must be conducive to the formation of financial innovation environment.　　For some trans-market, Cross-border financial activities, products, tools, to achieve more effective coordination and supervision. Tu said Shanghai also needed to establish efficient financial dispute resolution mechanisms. At present, the foreign-related financial dispute resolution of the choice of Shanghai is not much, the court to accept the relevant cases are not many. Tu said that to improve the international financial judicial accreditation to Shanghai, the key is to improve the ability and fairness of trial and arbitration. Without professional background and market practice, it is difficult to grasp the legal relationship in financial disputes.　　For example, shipping finance, financial derivatives and other complex cases, the financial dispute resolution mechanism put forward higher requirements. In addition, financial legal services should be improved. Tu said that Shanghai is currently proficient in law, foreign language, financial talent shortage. For example, in the financial construction of the shipping center, there are many contents such as ship's berthing, marine insurance, capital settlement, insurance shipping intermediary, shipping pricing, etc.　　He said that Shanghai should provide first-class financial legal services for the construction of International financial center through further reform and opening-up. Tu also said that strengthening financial legal education training and research is also an important part of the rule of law construction in Shanghai International Financial Center.