China’s newly revised Arbitration Law marks the most significant overhaul of the country’s commercial dispute framework since 1994
But a harder question for Beijing is not the amount of energy or resources poured in, but whether foreign parties, particularly Western ones, will actually choose mainland China as a seat, according to arbitrators and legal scholars.
The bottleneck is not legal design but trust, they said.
“An international arbitration centre should be a place that everyone chooses as a base for arbitration, even if it has no connection to their country,” said Tao Jingzhou, an independent arbitrator at Arbitration Chambers and one of China’s earliest international arbitrators.
Beijing and Manila trade blame over ‘provocative’ moves with ship collisions near disputed shoal
Beijing’s drive to grow its arbitration capacity reflects more than a desire to attract a slice of a high-value professional services market.
Source: News - South China Morning Post
