Shenzhen aims to become international arbitration center
Mediation, arbitration, and litigation are key in legal dispute resolution. In order to broaden the solution path of alternative dispute resolution (ADR) for overseas commercial cases involving interest entities in Hong Kong, Macao, and Taiwan, the Qianhai Court of Shenzhen has set up ADR International Commercial Dispute Resolution Center.
The court is taking the lead in promoting the formation of an international professional commercial dispute settlement platform with independent and coordinated litigation, mediation, and arbitration mechanisms in Qianhai.
As the case shows, a core engine of the Guangdong-Hong Kong-Macao Greater Bay Area, Shenzhen has been committed to building itself as a high ground for international legal services.
The Shenzhen Court of International Arbitration was established in 1983, back then the first of its kind in the Chinese mainland and in the Guangdong-Hong Kong-Macao region.
The court's roster of arbitrators covers 114 countries and regions, of which there are 569 foreign arbitrators, accounting for 36.78% of the total. In the court, the parties may choose the place of arbitration, arbitration rules, arbitration language, applicable laws, and so on. Last year, the total value of disputes handled by the court reached 127 billion yuan ($17.94 billion), ranking first in Asia and third in the world.
Over the past four decades, Shenzhen has been constantly innovating its adjudication mechanism for overseas commercial cases involving Hong Kong, Macao, and Taiwan. The Guangdong-Hong Kong-Macao Greater Bay Area International Arbitration Center was founded in the city. Shenzhen actively promotes the establishment of a diversified cross-border dispute settlement mechanism featuring extensive consultation, joint contribution, and shared benefits.
Dedicated to building the city into an international legal service center with international legal service resource clusters that adapt to an open economic system, Shenzhen is gradually becoming an option for international commercial dispute resolution.
The rule of law is the foundation of a good business environment. The rapid and steady progress Shenzhen has made in cross-border commercial dispute settlement is expected to help attract more investment to the city, boosting its high-quality development.
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