THE Supreme People's Court will set up the
first International Commercial Court in Shenzhen in the near future, the
Shenzhen Special Zone Daily reported, quoting Zhang Yongjian, head of
the fourth civil division at the supreme court.
Zhang disclosed at a seminar held in Shenzhen on Tuesday that the International Commercial Court will serve to solve trade and investment conflicts among Chinese and expatriate individuals and businesses and provide a stable, fair and transparent law-based business environment in China.
The vice mayor of Shenzhen, Gao Zimin, said that a law-based business environment is conducive to innovation and cooperation among businesses from all around the world.
The seminar held Tuesday focused on the past achievements and future plans for Shenzhen's innovation in international arbitration and the construction of a law-based business environment.
Seminar attendees argued that Shenzhen should take the opportunity of the Belt & Road Initiative as well as the Guangdong-Hong Kong-Macao Greater Bay Area development strategy to further innovate its international arbitration mechanism.
The seminar was also held to mark the 60th anniversary of the New York Convention that was passed at the United Nations' conference in 1958 and started to take effect in China in 1987. The convention paved a new way for China to solve economic and trade conflicts with other regions and countries.
A council member of the South China International Economic and Trade Arbitration Commission, also known as the Shenzhen Court of International Arbitration (SCIA), and the former secretary for justice in Hong Kong, Leung Oi-sie, said at the seminar that Shenzhen played a vital role in boosting legal cooperation between the mainland and Hong Kong.
Leung recalled that the mainland and Hong Kong had encountered difficulties in carrying out arbitration awards when Hong Kong first returned to the motherland.
In 1999, the Supreme People's Court and the Government of the Hong Kong Special Administrative Region signed a document that made enforcement of arbitration awards possible between the mainland and Hong Kong.
Zhang disclosed at a seminar held in Shenzhen on Tuesday that the International Commercial Court will serve to solve trade and investment conflicts among Chinese and expatriate individuals and businesses and provide a stable, fair and transparent law-based business environment in China.
The vice mayor of Shenzhen, Gao Zimin, said that a law-based business environment is conducive to innovation and cooperation among businesses from all around the world.
The seminar held Tuesday focused on the past achievements and future plans for Shenzhen's innovation in international arbitration and the construction of a law-based business environment.
Seminar attendees argued that Shenzhen should take the opportunity of the Belt & Road Initiative as well as the Guangdong-Hong Kong-Macao Greater Bay Area development strategy to further innovate its international arbitration mechanism.
The seminar was also held to mark the 60th anniversary of the New York Convention that was passed at the United Nations' conference in 1958 and started to take effect in China in 1987. The convention paved a new way for China to solve economic and trade conflicts with other regions and countries.
A council member of the South China International Economic and Trade Arbitration Commission, also known as the Shenzhen Court of International Arbitration (SCIA), and the former secretary for justice in Hong Kong, Leung Oi-sie, said at the seminar that Shenzhen played a vital role in boosting legal cooperation between the mainland and Hong Kong.
Leung recalled that the mainland and Hong Kong had encountered difficulties in carrying out arbitration awards when Hong Kong first returned to the motherland.
In 1999, the Supreme People's Court and the Government of the Hong Kong Special Administrative Region signed a document that made enforcement of arbitration awards possible between the mainland and Hong Kong.
Source:Shenzhen Daily
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