Going Global – China's Arbitration Reforms in 2019
January 13, 2020 | BY
Vincent ChowChina is internationalizing its arbitration system as it embarks on high-value, global investment projects
In 2019, China enacted groundbreaking changes to its arbitration regime in the ongoing internationalization of Chinese arbitration. For the first time, China has invited foreign arbitral institutions to administer cases onshore and given an offshore seat the power to seek interim relief from its domestic courts.
Demand for effective international dispute resolution has grown in lockstep with China's economic growth as Chinese markets have opened up to foreign investors and cross-border transactions have become more frequent. Arbitration is the preferred method of resolving international commercial disputes globally and China is no exception. More than 90% of foreign-related contracts with Chinese parties have arbitration designated as the dispute settlement method.
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