Finance disputes
April 28, 2011, Thursday
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Print Edition
Print Edition
DISPUTES on credit cards, bank loans and insurance products are the main types of financial disputes in Shanghai, according to the Shanghai Higher People's Court yesterday.
The three types of disputes accounted for 90 percent of all financial dispute cases in Shanghai. In 2010, the court heard 22,278 business disputes on financial products, up 30 percent from a year ago. The data was revealed at a city-level meeting to shore up Shanghai's legal environment for the financial industry. The combined value of the cases rose to 6.46 billion yuan (US$992 million) last year. More complicated financial products create more disputes.
The three types of disputes accounted for 90 percent of all financial dispute cases in Shanghai. In 2010, the court heard 22,278 business disputes on financial products, up 30 percent from a year ago. The data was revealed at a city-level meeting to shore up Shanghai's legal environment for the financial industry. The combined value of the cases rose to 6.46 billion yuan (US$992 million) last year. More complicated financial products create more disputes.
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