Chongqing sets up international arbitration court to serve New International Land-Sea Trade Corridor

The International Commercial Arbitration Forum on the New International Land-Sea Trade Corridor was held in Southwest China's Chongqing municipality on Nov 12.

Co-hosted by the Chongqing Municipal Bureau of Justice, the Chongqing Arbitration Commission, the Chongqing Law Society, and Southwest University of Political Science and Law, the forum was part of the municipality's efforts to promote its construction of a comprehensive inland opening-up hub and an international commercial arbitration center for Southeast Asia.

The Chongqing Court of International Commercial Arbitration (CCICA) was officially unveiled at the forum. The court aims to help foster a market-oriented, law-based and international business environment that supports high-level opening-up through resolving international commercial disputes with international arbitration services.

The International Commercial Arbitration Forum on the New International Land-Sea Trade Corridor is held in Southwest China's Chongqing municipality on Nov 12.

As a sub-forum of the China-ASEAN Legal Forum, the event aimed to provide a high-level, international, and specialized platform for domestic and foreign arbitration institutions and enterprises. Discussions centered on how to use arbitration to deliver high-quality, efficient dispute resolution services to businesses operating along the New International Land-Sea Trade Corridor, and on further promoting commercial arbitration cooperation and development among countries and regions situated along the corridor.

During the event, the Reply on Agreeing to the Establishment of the Chongqing Court of International Commercial Arbitration was read out, followed by the official inauguration of the court. Appointment letters were presented to the first batch of international arbitrators and members of the International Arbitration Professional Committee of the CCICA.

The CCICA is designed to handle international or foreign-related commercial arbitration cases, those involving the Hong Kong and Macao special administrative regions and the Taiwan region, as well as investment dispute arbitration cases between a government and investors from another country.

The court has appointed 167 respected arbitrators, including 60 from overseas, and set up a remote international arbitration case hearing system and a team of arbitration secretaries proficient in multiple languages, including English, which enables the court to provide diversified, internationalized, professional and digitalized arbitration services to global market participants.

During the event, the Justice Bureau of Chongqing signed a memorandum of cooperation with the China International Economic and Trade Arbitration Commission and the China Maritime Arbitration Commission.

The Chongqing Arbitration Commission also signed cooperation agreements on arbitration with representatives of eight arbitration institutions from Southeast Asia, South Asia and Central Asia.

By strengthening exchanges and cooperation with domestic and international arbitration institutions, these agreements aim to further promote the innovation of international arbitration cooperation mechanisms, provide more convenient and efficient dispute resolution channels for enterprises along the New International Land-Sea Trade Corridor, further optimize the business environment of the corridor, and contribute to the integrated development of regional economy.

Participants engaged in discussions on the theme "Practice and Innovation in Building China's International Commercial Arbitration Center", covering topics such as arbitration innovation, professional development in arbitration, successful practices and intelligent development. They also analyzed the future development trends of arbitration mechanisms in an international context from various perspectives.

In addition, the "International Arbitration Rules of the Chongqing Court of International Commercial Arbitration" were released at the same day.

The forum would further promote the development of the Chongqing International Commercial Arbitration Center with Chongqing characteristics, domestic influence and international reputation, according to a representative of the Chongqing Arbitration Commission. The event is expected to deepen exchanges and cooperation in international commercial arbitration, enhance Chongqing's influence in this field, and help build the municipality into a high-level hub for international commercial arbitration services, facilitating China's opening-up to the west and south.