by CHEN Junqing /STAR Market Daily

A Shanghai delegate has urged legal reforms to improve regulatory certainty and investor confidence, as proposals were raised during the city's annual "two sessions" meetings.

WU Jian, a deputy to the Shanghai Municipal People's Congress and a senior partner at Duan & Duan Law Firm, said a predictable and transparent legal environment is increasingly critical as Shanghai attracts foreign investment and as local companies expand overseas.

Wu proposed upgrading the Lujiazui Legal Forum into an international platform focused on cross-border intellectual property protection, digital trade rules and data governance. He said deeper cooperation with overseas universities, international organizations and leading law firms would help Shanghai better align with global standards.

He also highlighted gaps in internationally trained intellectual property professionals, warning that talent shortages could weaken companies' ability to protect rights and manage disputes abroad. Wu called for a city-level cross-border IP services center to integrate legal expertise, judicial resources and industry support.

On risk prevention, Wu flagged growing cross-border challenges, including telecoms fraud and illicit capital flows, saying stronger coordination is needed to safeguard businesses and maintain market order.

Several proposals focused on improving the business environment. Wu urged tougher action against fraudulent company registrations and clearer administrative remedies, arguing that timely corrections are essential to protect property rights and investor confidence.

He also criticized rigid leasing practices at some state-owned commercial properties, calling for more market-oriented terms to improve asset efficiency and enhance Shanghai's appeal to foreign companies.

In capital markets, Wu said clearer and more independent standards for assessing investor losses in securities cases would help strengthen investor protection and market credibility.

Wu said more streamlined, data-driven governance would improve legal certainty and reinforce Shanghai’s reputation as a market-oriented, law-based and internationally aligned business center.