The courts will facilitate market-based bankruptcy and enhancing trial and settlement of cases concerning business liquidation, according to a working conference on trial of civil and commercial cases held by the Supreme People's Court (SPC) on Wednesday.
The SPC said courts across the country should strengthen the trial and settlement of cases concerning business liquidation and weed out "Zombie enterprises" that can survive only on bailouts in accordance with laws, so as to optimize the distribution of market resources, which would support economic transformation and upgrade.
Trial and settlement of relevant cases should serve and ensure innovation and development to safeguard fair and orderly market competition, the SPC urged.
The SPC also called for determent of monopoly behavior to expand development space for small- and medium-sized enterprises.
Intellectual property rights should also be valued, the SPC said, adding the right to earnings and yields of scientific research must be safeguarded to better implement the national strategy of innovation-driven development.
The SPC also urged dealing with those involved in inside trading and false statement according to law to protect the legitimate rights and interests of investors and promote healthy development of the capital market.