Process eyed to solve Belt, Road disputes
China may create a procedure and organization to handle the resolution of disputes arising from issues related to the Belt and Road Initiative, the second meeting of the Leading Group for Deepening Overall Reform concluded on Jan 23. The meeting, chaired by Xi Jinping, general secretary of the Communist Party of China Central Committee, approved a guideline about establishing such a procedure and organization. The goal is to lawfully settle commercial, trade and investment disputes regarding the Belt and Road Initiative, protect the lawful rights and interests of Chinese and foreign individuals on equal footing and create a stable, fair and transparent business environment with the rule of law, those at the meeting decided. Efforts to set up the procedure and the organization to handle disputes should follow the principles of extensive consultation, joint contribution and shared benefits and should be based on China’s existing judicial, arbitration and mediation institutions, the leaders agreed.