The "Annual Report on Judicial Review of Commercial Arbitration by the Supreme People's Court (2023)" released on the 9th (hereinafter referred to as the "Report") shows that in 2023, there were 69 cases of courts nationwide recognizing (approving) and enforcing overseas arbitration awards. At a press conference held on the 9th, Wang Shumei, Deputy Ministerial level Full time Member of the Judicial Committee of the Supreme People's Court, said that foreign arbitration awards recognized and enforced not only include awards made by more than ten foreign arbitration institutions such as the International Court of Arbitration of the International Chamber of Commerce, the Singapore International Arbitration Center, the Swiss International Court of Arbitration for Sport, the Japan Commercial Arbitration Association, and the International Commercial Arbitration Court of the Russian Federation Chamber of Commerce, but also include awards made by temporary arbitration tribunals in countries such as the United Kingdom and India. Wang Shumei said that courts across the country have fulfilled their obligations under the New York Convention in good faith. Only three cases have had their recognition and enforcement applications rejected due to reasons such as exceeding the application deadline, uncertainty of the respondent's identity and inability to determine jurisdiction, or the court in the country where the award was made applying to revoke the arbitration award. Other foreign arbitration awards have been recognized and enforced, reflecting the mature judicial review concept and judgment thinking of the people's courts, and further demonstrating the friendly attitude and great country responsibility of fulfilling treaty obligations in good faith. In addition, the people's courts have strengthened inter regional judicial assistance and concluded 32 cases of applications for recognition and enforcement of Hong Kong arbitration awards Wang Shumei said that the judicial function of the people's courts in supporting Hong Kong arbitration and promoting the high-quality development of international arbitration in accordance with the law has become more prominent. Arbitration is an important component of the diversified dispute resolution mechanism in the social governance system with Chinese characteristics, and it is also an internationally recognized method for resolving commercial disputes. According to the report, in 2023, more than 16000 commercial arbitration judicial review cases were concluded by courts nationwide. According to statistics, as of now, China has established 282 arbitration institutions with over 60000 arbitrators and has handled more than 5 million cases, involving a total amount of over 8 trillion yuan (RMB). Among them, in 2023, the national arbitration institutions handled a total of 607000 arbitration cases, a year-on-year increase of 27.8%; The total amount of the target is 1.1602 trillion yuan, a year-on-year increase of 17.66%; More than 3100 foreign-related cases, a year-on-year increase of 8.28%; The amount of foreign-related targets reached 170 billion yuan, a year-on-year increase of 42.29%. Shen Hongyu, the Chief Judge of the Fourth Civil Trial Division of the Supreme People's Court, said at the meeting that the Supreme People's Court will improve the arbitration judicial review mechanism, promote innovation in maritime arbitration system rules, support the internationalization of arbitration, and help China build itself into a new destination for international commercial arbitration facing the world. (New Society)