CIETAC goes global
March 29, 2012 | BY
clpstaff &clp articlesWith the rise of Chinese state owned enterprises and private corporations, CIETAC is likely to become increasingly important; the 2012 revision seeks to bring the CIETAC Rules in line with best practices in international arbitration
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The China International Economic and Trade Arbitration Commission (中国国际经济贸易仲裁委员会) (CIETAC) is the world's busiest arbitral institution – last year, it accepted 1,435 cases. On February 3 2012, the China Council for the Promotion of International Trade (中国国际贸易促进委员会), also known as the China Chamber of International Commerce (中国国际商会), adopted the revised CIETAC Rules effective from May 1 2012 (instead of the previously-expected March 1 2012), thereby replacing the previous edition adopted in 2005.
Revision of the rules began as early as 2010, carried out by a CIETAC working group. In the course of its work, the group produced several drafts of the rules and sought feedback from arbitrators and users through workshops in China.