Two white papers and a working manual on cross-border rules convergence on commercial legal matters were sent out to some professionals Thursday by the Primary People’s Court of Qianhai Cooperation Zone.
The white papers, as the first batch of policies on legal rules convergence, focus on the similarities and differences between the mainland and Hong Kong in terms of private lending and equity transfer, as well as related practices.
“As a court dealing with commercial cases involving Hong Kong, Macao, Taiwan and foreign parties, we strive to lead judicial reforms to help investors across the world better conduct business in Qianhai,” said Bian Fei, president of the court. “By continuously promoting cross-border rules convergence, we hope to boost the confidence among investors searching for opportunities in Qianhai, and provide more convenient and less time-consuming services.”
Ray WF Yip, a Hong Kong-based barrister-at-law and member of the Chartered Institute of Arbitrators, said the white papers will facilitate legal practitioners and especially entrepreneurs to understand detailed rules when facing legal problems.
According to Bian, the court has invited Hong Kong residents as people’s assessors and mediators to help offer more options and adopted advanced technologies such as blockchain to help store evidence and speed up the handling of cases.
The court said it has also carried out eight supporting systems to secure the implementation of rules convergence.