Na­tion eyes ma­jor role as com­mer­cial ar­bi­tra­tion cen­ter

China Daily (USA) - - BUSINESS - By ZHONGNAN and JING SHUIYU Con­tact the writ­ers at zhongnan@chi­nadaily.com.cn and jing­shuiyu@chi­nadaily.com.cn

China will de­velop uni­form stan­dards and im­prove its le­gal en­vi­ron­ment to build it­self into an in­ter­na­tion­ally rec­og­nized and in­flu­en­tial ar­bi­tra­tion cen­ter, said the pres­i­dent of the na­tion’s Supreme Peo­ple’s Court.

“China will fur­ther im­prove the ju­di­cial ex­am­i­na­tion sys­tem for ar­bi­tra­tion, in or­der to cre­ate a good ju­di­cial en­vi­ron­ment for the de­vel­op­ment of ar­bi­tra­tion,” Zhou Qiang, pres­i­dent of the Supreme Peo­ple’s Court, said at the 2016 China Ar­bi­tra­tion Sum­mit on Wednes­day.

Data from the Le­gal Af­fairs Of­fice of the State Coun­cil showed that 244 Chi­nese ar­bi­tra­tion com­mis­sions ac­cepted 136,924 cases re­gard­ing trade, in­vest­ment and le­gal is­sues in 2015, up 20 per­cent year-onyear. The cases in­volved 411.2 bil­lion yuan ($61.6 bil­lion), up 55 per­cent from the pre­vi­ous year.

The main task in in­ter­na­tional eco­nomic and trade ar­bi­tra­tion in­volves ac­cept­ing in­ter­na­tional and do­mes­tic cases re­lated to in­di­vid­u­als and or­ga­ni­za­tions, of­fer­ing dis­pute res­o­lu­tion ser­vices in ac­cor­dance with the agree­ment of the par­ties, and ac­cept­ing cases on the au­tho­riza­tion of do­mes­tic and for­eign gov­ern­ments and in­ter­na­tional or­ga­ni­za­tions.

As an al­ter­na­tive to lit­i­ga­tion, in­ter­na­tional com­mer­cial ar­bi­tra­tion re­solves dis­putes that arise un­der com­mer­cial con­tracts.

With re­gard to mak­ing China’s ar­bi­tra­tion more ef­fec­tive, Ren­uad Sorieul, sec­re­tary of the United Na­tions Com­mis­sion on In­ter­na­tional Trade Law, told China Daily: “It al­ways takes time.

“Ex­pe­ri­ence shows that cre­at­ing an ar­bi­tra­tion cen­ter is not enough. The open­ing of a cen­ter is not the end. What truly en­sured the suc­cess of a cen­ter is the will­ing­ness of peo­ple from out­side to go and ar­bi­trate there.”

“China’s ar­bi­tra­tion has been de­vel­op­ing quite rapidly,” Sorieul said.

“Ef­forts have al­ready been made in mod­ern­iz­ing the sys­tem in or­der to make China more ar­bi­tra­tion-friendly.”

“In or­der to build China into an in­flu­en­tial ar­bi­tra­tion hub, we need to con­duct thor­ough re­search on new is­sues such as de­cid­ing the na­tion­al­ity of an ar­bi­tral award, the scope of busi­ness dis­putes that are el­i­gi­ble for ar­bi­tra­tion, the ex­e­cu­tion of in­vest­ment ar­bi­tral awards re­lated to host gov­ern­ments, and the in­tro­duc­tion of on­line ar­bi­tra­tion,” said Zhou.

Zhang Wei, vice-chair­man of the China Coun­cil for the Pro­mo­tion of In­ter­na­tional Trade, said that China would fur­ther im­prove its ar­bi­tra­tion sys­tem to build an open eco­nomic and trade en­vi­ron­ment, as Chi­nese en­ter­prises ac­cel­er­ate the pace of de­vel­op­ing their busi­ness abroad un­der the Belt and Road Ini­tia­tive.

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