In­ter­na­tional Com­mer­cial Court

China Pictorial (English) - - buzzwords - Edited by Li Zhuoxi

In late June, the Supreme Peo­ple’s Court of China (SPCC) of­fi­cially es­tab­lished two in­ter­na­tional com­mer­cial courts, one in Shen­zhen and the other in Xi’an, to han­dle cross-bor­der com­mer­cial dis­putes.

Over the past five years, more than 140 coun­tries and re­gions have ac­tively re­sponded to the Silk Road Eco­nomic Belt and the 21st-cen­tury Mar­itime Silk Road pro­grams, or the Belt and Road Ini­tia­tive, in­tro­duced by Chi­nese Pres­i­dent Xi Jin­ping.

Con­struc­tion of the Belt and Road Ini­tia­tive in­volves a large num­ber of multi­na­tional com­mer­cial ac­tiv­i­ties. Con­se­quently, it is im­por­tant to cre­ate a sta­ble and pre­dictable busi­ness en­vi­ron­ment based on rule of law.

Re­cently, the SPCC and the Cen­tral Lead­ing Group for Deep­en­ing Over­all Re­form jointly held a meet­ing to re­view and pass the Opin­ions on Es­tab­lish­ing the Belt and Road In­ter­na­tional Com­mer­cial Dis­pute Set­tle­ment Mech­a­nism and In­sti­tu­tions, which set ba­sic prin­ci­ples, spe­cific pro­grams and or­ga­ni­za­tional guar­an­tees in­clud­ing the es­tab­lish­ment of in­ter­na­tional com­mer­cial courts.

The SPCC will also or­ga­nize an Ex­perts Com­mit­tee for In­ter­na­tional Com­mer­cial Af­fairs fea­tur­ing ex­perts and schol­ars from China and coun­tries along the Belt and Road.

Cur­rently, the SPCC is draft­ing the stan­dards and pro­ce­dures for the Ex­perts Com­mit­tee and clar­i­fy­ing op­er­a­tional mech­a­nisms of the com­mit­tee. The new mech­a­nism does not con­flict with the ex­ist­ing in­sti­tu­tions, but only pro­vides more op­tions.

June 29, 2018: The Supreme Peo­ple’s Court of China of­fi­cially launches in­ter­na­tional com­mer­cial courts— one in Shen­zhen, Guang­dong Prov­ince, and the other in Xi’an, Shaanxi Prov­ince—to han­dle cross-bor­der com­mer­cial dis­putes. Xin­hua

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