2017 China Arbitration Summit, jointly hosted by the Supreme People’s Court of China, China Council for the Promotion of International Trade (CCPIT) and China International Economic and Trade Arbitration Commission (CIETAC), was held in Beijing from September 19 to 20. CCPIT Vice Chairman Lu Pengqi addressed the opening ceremony. Also in attendance were Liu Guixiang, member of the Judicial Committee of the Supreme People’s Court of China, Li Chenggang, Assistant Minister of Commerce of China, and Wang Junfeng, President of All China Lawyers Association.
Lu Pengqi said, international arbitration has achieved steady progress with the deepening of the economic globalization and the implementation of China’s “Belt and Road” Initiative.
“Internet technology shall be utilized in international arbitration to create an ‘Internet Plus’ mode and explore an online mechanism for dispute settlement, so as to provide a convenient, flexible and efficient service platform in the dispute settlement process. What is more, studies on IPR arbitration shall be conducted and IPR arbitration information exchange and handling platform shall be established, contributing to the protection of intelligence across the world. I hope international arbitration and business community foster exchange and cooperation to promote the widespread use of international arbitration in PPP,” added Lu.
Liu Guixiang noted, the Supreme People’s Court will continuously uphold the development of China’s arbitration affairs and create a stable, fair, transparent and predicable legal environment, contributing to the development of arbitration, legal fairness and equality and the rule of law within the global range.
Li Chenggang noted, China’s arbitration affairs have faced opportunities by favor of the “Belt and Road” Initiative.
“We need to cultivate more talents with global vision on arbitration research so as to move forward the internationalization process of China’s arbitration affairs. I hope that China International Economic and Trade Arbitration Commission can continuously serve its role as the ‘pacesetter’ of China’s arbitration affairs, contributing to its internationalization process,” said Li.
Lu and Li’s remarks were echoed by Wang Junfeng, who stressed the importance of optimizing the “Belt and Road” legal environment, internationalizing China’s international arbitration system, gaining the global influence of China’s arbitration institutions and guiding the investment equities to tailor make a dispute settlement mechanism prior to the initiation of projects. Wang added, Chinese lawyers are willing to cooperate with China International Economic and Trade Arbitration Commission to provide multilayer legal services in the “Belt and Road” construction.
21 guest speakers were invited to address the summit. The major topics for discussion include the judicial and arbitration environment, opportunities and challenges in the “Belt and Road” construction, “Belt and Road” construction and international investment arbitration, new tendency and new hot topic about commercial and legal arbitration, legal risks and its prevention for Chinese companies when going global, etc.
As an increasing number of Chinese enterprises choose to seek development abroad, outbound trade and investment events have been frequent. More professional, internationalized, facilitated arbitration services for investment disputes are required when investing in the countries along the “Belt and Road” route to better safeguard the lawful interests of enterprises. International investment arbitration is a major way of settling disputes between investors and investment destination countries. However, China’s arbitration agencies have yet had any practical experience in investment dispute settlement, nor there be any arbitration regulations applicable to the settlement of international investment disputes. “Regulation on Investment Arbitration” was officially issued by China International Economic and Trade Arbitration Commission on September 19 and will come into force on October 1. How to interpret the Regulation was also one of the topics for discussion at the Summit.
The Summit also invited Dr. Michael Hwang SC, Chief Justice of the Dubai International Financial Centre Courts, Joao Ribeiro-Bidaoui, United Nations Commission on International Trade Law (UNCITRAL) Regional Head for Asia and the Pacific, Alexis Mourre, the International Chamber of Commerce (ICC) Executive Board, etc. More than 400 guests from arbitration agencies at home and abroad, as well as judges, arbitrators, legal experts, lawyers and people from business community participated in the Summit.