China's Courts Reinforce Commitment to Market Order Amid Rising Economic Crimes

The courts in China have announced an intensified commitment to maintaining market order in response to a rise in economic crimes that are perceived as threats to the socialist economy. The Supreme People's Court has highlighted a dramatic increase in economic offenses, revealing that bid-rigging incidents alone surged by 56.6 percent over the past year. Other areas of concern include a 47.5 percent increase in copyright infringement cases, 33.9 percent in loan fraud, and various other illegal activities such as counterfeit trademarks and the production of fake goods.

During a national conference attended by chief judges, Zhang Jun, the president of the Supreme People's Court, noted the urgency of the situation. He stated that while addressing the financial repercussions of these illegal actions is important, it is equally crucial to consider their broader social implications on market stability. He called for tougher sanctions against those who exploit vulnerable groups, such as the elderly and farmers, and emphasized the necessity for more stringent measures against harmful products.

Zhang also pointed out that courts should not only focus on the serious financial risks posed by these crimes but also proactively manage and prevent them. He urged judges to stay informed about new issues emerging in the market economy and to provide appropriate judicial assistance. In situations where a clear consensus exists, Zhang advocated for prompt judicial interpretations to clarify legal stances, and in cases that lack consensus, he suggested utilizing significant cases as benchmarks to uphold industry standards.

Additionally, the Supreme People's Court president addressed the complexity of family and marriage disputes, which are also on the rise. He noted that an increase in asset values along with new types of property like intellectual property and digital assets has made legal determinations more challenging. Zhang emphasized the importance of courts focusing on the emotional well-being of individuals involved in family disputes, as these issues directly impact personal life and social harmony.