China International Economic and Trade Arbitration Commission, Financial Disputes Arbitration Rules (2005 Version)

Adopted: March 17 2005
Effective: May 1 2005
Interpreting authority: China International Economic and Trade Arbitration Commission (CIETAC)
Applicability: "Securities and futures" has been added as one of the types of financial transactions (Article 2).

Main contents: The Rules have been revised to be in line with the revised China International Economic and Trade Arbitration Commission, Arbitration Rules. Article 4 has been revised to state that where the parties agree to refer their disputes to arbitration under these Rules without providing the name of an arbitration institution, they shall be deemed to have agreed to refer the dispute to arbitration by CIETAC. The parties are now allowed to appoint arbitrators off CIETAC's Panels of Arbitrators. The persons so appointed may act as arbitrators after the appointment has been confirmed by the Chairman of CIETAC in accordance with the law (Article 6). Unless otherwise agreed by the parties, the arbitral tribunal may adopt an inquisitorial or adversarial approach when examining the case according to the specific circumstances of the case (Article 15).
Related legislation: China International Economic and Trade Arbitration Commission, Arbitration Rules (2005 Version), Jan 11 2005, CLP 2005 No.4 p6