On December 6, 2019, the MOU Signing Ceremony for the “Belt and Road” Financial Legal Service and Financial Dispute Resolution Forum in Western China were held in Xi'an. The forum was jointly hosted by the China International Economic and Trade Arbitration Commission (CIETAC), CCPIT Shaanxi, CCPIT Gansu, CCPIT Ningxia, CCPIT Qinghai, CCPIT Xinjiang, CCPIT Xi'an and Shaanxi Province Banking Association, co-hosted by CIETAC Silk Road Arbitration Center and co-organized by Shaanxi Province Lawyers Association.
WANG Chengjie, Vice-Chairman and Secretary-General of CIETAC, WANG Fengping, Deputy Director of the Standing Committee of Xi'an People's Congress, and BU Xiangrui, Chief Legal Counsel of China Banking Association, were invited to the forum and delivered speeches. Leaders of CPIT Shaanxi, CCPIT Gansu, CCPIT Ningxia, CCPIT Xi'an, State-owned Assets Supervision and Administration Commission of the People’s Government of Shaanxi Province and Five Northwest Provinces Banking Association attended the forum. JIANG Hongmei, Assistant Secretary-General of CIETAC Silk Road Arbitration Center, moderated the Forum.
During the forum, a cooperation framework agreement (MOU) was signed between CIETAC Silk Road Arbitration Center and Shaanxi Province Banking Association, Gansu Province Banking Association, Ningxia Banking Association, Qinghai Province Banking Association and Xinjiang Banking Association. The signing ceremony was witnessed by leaders of the Standing Committee of Xi'an Municipal People's Congress, China Banking Association, CCPIT Shaanxi, CCPIT Gansu, CCPIT Ningxia and CCPIT Xi’an.
Vice-Chairman and Secretary-General of CIETAC WANG Chengjie pointed out that, financial innovation cannot be separated from legal support. The healthy development of finance can be safeguarded and promoted through arbitration. CIETAC has been long maintaining a close cooperative relationship with the banking associations. The multi-party’s participation and cooperation will jointly promote the development of the dispute resolution mechanism in banking industry in northwest China, improve the professional level of legal services, and contribute to the construction of "Belt and Road" international commercial and legal comprehensive services. At the same time, CIETAC Silk Road Arbitration Center will actively utilize CIETAC's domestic and international expert resources to provide the banks and other financial institutions in northwest China with the first-class, high-quality, efficient, fair and just arbitration services, and give full play to its function of public legal service.
Chief Legal Counsel of China Banking Association BU Xiangrui mentioned in his speech that, the agreement signing and the forum held were landmark practice for the Five Northwest Provinces Banking Association and the financial institutions to implement the central government and the State Council’s instruction to better serve the real economy, prevent and mitigate financial institution risks. It was also an important measure to implement Chairman Xi Jinping's initiative to "Put the non-litigation mechanism ahead". The China Banking Association will actively implement the relevant work requirements of the CBRC and the self-regulatory documents such as guidelines on the use of arbitration to resolve financial disputes, and continue to cooperate with arbitration institutions to build platforms of mediation and arbitration cohesion and online arbitration for financial disputes, to promote the improve of relevant financial arbitration rules, and to improve the development of China's arbitration, especially the professionalism of financial arbitration, making due contributions to the steady development of China's banking industry.
Deputy Director of the Standing Committee of Xi'an People's Congress WANG Fengping mentioned that, the rapid economic and social development is inseparable from good legal environment and the supporting legal service. The Xi'an Municipal Party Committee and Municipal Government are committed to creating an international political and legal environment, and are actively promoting the gathering of international judicial and other dispute resolution institutions in Xi'an. At the starting point of the ancient Silk Road Xi'an, the cooperation agreement signed by CIETAC Silk Road Arbitration Center and Five Northwest Provinces Banking Association marks an important measure in the construction of the rule of law in the five Northwest province under the Belt and Road Initiative and in promoting the orderly development of financial industry in Northwest China, which is also conducive to optimizing the business environment under the rule of law and serving the development of the real economy.
The signing ceremony was followed by the Financial Dispute Resolution Forum in Western China. Six experts and scholars with very rich practical experience in finance made their speeches. They are: LV Qi, Deputy General Manager of the Legal Department of China Minsheng Bank, YANG Guang, Director of Beijing Lantai Law Firm and CIETAC arbitrator, BU Xiangrui, Chief Legal Counsel of the China Banking Association and CIETAC arbitrator, QIANG Li, Professor of the School of Economic Law of Northwest University of Political Science and Law and Vice Chairman of China Banking Law Society and CIETAC arbitrator, CHANG Lei, Deputy General Manager of Shaanxi Financial Assets Management Co., Ltd., and DU Xuan, General Manager of Legal Compliance Department of Xi'an Bank.
Combining with private equity investment, cross-border mergers and acquisitions, data protection and the latest laws and regulations, they share their insights and interacted with the audience respectively under the topic of “Impact of the Minutes of the National Court on Civil and Commercial Trial on commercial banks”, “Key Legal Issues and Countermeasures in Private Investment”, “Online Arbitration and the Application of Big Data in Banking”, “Regulations on Optimizing the Business Environment and the Perfection of the Commercial Banking System”, “Prevention and Resolution of Financial Risks” and “Discussion on the Legal Validity of Pre-mortgage Registration of Off-plan Mortgages: From the Perspective of Bank Creditor’s Right Protection” .
The forum attracted more than 130 representatives from banks, banking association, legal service institutions, enterprises and media of Shaanxi and achieved great success.
