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Law

The influence of Hong Kong's international arbitration has gained global attention again, consolidating and enhancing the obvious advantages of the Hong Kong International Arbitration Center

2024-05-08   

The determination of the Ministry of Justice to support Hong Kong in building an international commercial law and dispute resolution service center for the world is being actively implemented. From May 5th to 8th, the world's top arbitration event - the International Council of Commercial Arbitration (ICCA Congress) was held in Hong Kong. Hong Kong's outstanding influence on the international commercial arbitration stage has once again attracted world attention. During this time, a reporter from the Rule of Law Daily learned that in order to comprehensively understand the development of the arbitration industry in Hong Kong, China Legal Services (Hong Kong) Limited (hereinafter referred to as CFS) established by the Ministry of Justice conducted research on the construction of the Hong Kong International Arbitration Center. They held discussions and exchanges with the Hong Kong Department of Justice, the Hong Kong International Arbitration Center, the China International Economic and Trade Arbitration Commission Hong Kong Arbitration Center, the South China (Hong Kong) International Arbitration Court, the Beijing Arbitration Commission, and Chinese funded enterprises in Hong Kong, and formed the "Research Report on Promoting the Coordinated Development of Arbitration in the Guangdong Hong Kong Macao Greater Bay Area and Supporting Hong Kong in Building an International Arbitration Center" (hereinafter referred to as the "Report"). The report suggests that with the deepening of the construction of the Guangdong Hong Kong Macao Greater Bay Area, we should further promote Hong Kong as a major international arbitration service center, support Hong Kong in building an international legal and dispute resolution service center in the Asia Pacific region, and carry out top-level design and advanced layout at the national level to jointly promote the coordinated development of arbitration in the Guangdong Hong Kong Macao Greater Bay Area. And propose measures such as expanding the depth and breadth of mainland China's opening up to the legal service industry in Hong Kong; Promote the legal consultation mechanism in the Guangdong Hong Kong Macao Greater Bay Area and strengthen cooperation in arbitration services between the mainland and Hong Kong; Expanding Hong Kong as a dispute resolution venue for parties, striving to adopt Hong Kong law in Hong Kong's state-owned enterprises and choosing Hong Kong legal services to handle contract disputes, and a series of practical measures. "Building Hong Kong as an international legal and dispute resolution service center in the Asia Pacific region is not only a policy development goal of Hong Kong, but also a top-level design and deployment made by the Guangdong Hong Kong Macao Greater Bay Area to integrate Hong Kong into the overall development of the country." The person in charge of China Legal Service told reporters that building an international arbitration center is an important part of Hong Kong's construction of an international legal and dispute resolution service center in the Asia Pacific region. It is understood that there are currently 8 major arbitration institutions in Hong Kong, namely: the Hong Kong International Arbitration Center established in 1985, the Asia Affairs Office of the Secretariat of the International Chamber of Commerce International Arbitration Court established in 2008, the Hong Kong Arbitration Center of the China International Economic and Trade Arbitration Commission established in 2012, the Hong Kong Arbitration Center of the China Maritime Arbitration Commission established in 2014, the One State International Online Arbitration Center established in 2018, the South China (Hong Kong) International Arbitration Court established in 2019, the Hong Kong Regional Arbitration Center of the Asia African Law Association established in 2021, and the Shanghai International Arbitration (Hong Kong) Center settled in Hong Kong during the ICCA conference. The ability to attract internationally renowned arbitration institutions to establish business institutions in Hong Kong is inseparable from the support of the central government, the Hong Kong SAR government, and even the assistance of the international community. The report emphasizes these aspects. From the perspective of the central government, in the Hong Kong and Macao special chapter of the 13th Five Year Plan of the country, the central government clearly supports Hong Kong's construction as an international law and dispute resolution in the Asia Pacific region

Edit:Liling Responsible editor:Wang Chen

Source:http://www.legaldaily.com.cn

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