Vice-minister of justice calls for global branding of Chinese arbitration services

Vice-Minister of Justice Xiong Xuanguo has called for efforts to promote Chinese arbitration services globally and establish China as a new destination for international arbitration.

Vice-Minister of Justice Xiong Xuanguo addresses the First China Legal Forum on International Trade in Services. [Photo/moj.gov.cn] 

Xiong made the remarks while attending the First China Legal Forum on International Trade in Services held in Beijing on Sept 3. 

He pointed out the need to constantly improve China's arbitration system, raise the system's credibility, cultivate world-leading arbitration institutions, and provide better foreign-related legal support and services. 

Making Beijing an international arbitration hub, Xiong emphasized, requires greater efforts to get in line with advanced international standards, keep up with the development of international economics and trade, and further open up and reform the city's arbitration services.

Vice-Minister of Justice Xiong Xuanguo addresses the First China Legal Forum on International Trade in Services. [Photo/moj.gov.cn]

He expects the Beijing Arbitration Commission, which was one of the co-hosts of the forum, to give full play to its ample commerce-related legal resources and outstanding service capabilities in order to boost the city's commercial services and win over commercial entities both at home and abroad. 

Since the implementation of the Arbitration Law in 1995, China has established over 270 arbitration institutions. Together, they have concluded over 4 million cases involving subject matters worth over 5 trillion yuan ($774.7 billion) in total and parties from over 100 countries and regions. 

Currently, the Ministry of Justice is advancing a revision of the Arbitration Law in an effort to incorporate Chinese characteristics and international standards into the Chinese arbitration system.