Xinhua Silk Road: ICC China Arbitration Day held in Shanghai to focus on new trends in global dispute resolution

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BEIJING, July 9, 2024 /PRNewswire/ — The first International Chamber of Commerce (ICC) China Arbitration Day, jointly organized by the ICC International Court of Arbitration and the ICC China, kicked off in Shanghai on July 4.

The event attracted more than 250 senior judges, lawyers, arbitrators, and other professionals in the field of dispute resolution from home and abroad, aiming to promote the development of international arbitration and dispute resolution in China and to provide more efficient and professional dispute resolution services for Chinese business community.

International arbitration, as an efficient and professional way to resolve international trade and investment disputes, plays an irreplaceable role in maintaining global economic and trade order and promoting international investment cooperation, said Yu Jianlong, vice chairman of the China Council for the Promotion of International Trade and vice chairman of the China Chamber of International Commerce (CCOIC).

He added that the rapid development of the new energy vehicle (NEV) industry has also brought new dispute resolution needs, and Chinese business community is willing to work with the international community to explore the dispute resolution mechanisms in this sector, and to protect the sustainable development of the industry.

Jia Yu, president of the Shanghai High People’s Court, emphasized the key position of judicial review in international arbitration and said that Chinese courts will actively support the development of international arbitration and provide endorsement for the recognition and enforcement of foreign arbitration awards.

Alexander G. Fessas, secretary general of the ICC International Court of Arbitration and director of the ICC Dispute Resolution Services, analyzed the latest development trends of international arbitration worldwide and emphasized the important position of China in the field of international arbitration.

During the event, participants had a heated discussion on topics such as “using technology to achieve fair, effective, and efficient international arbitration procedures” and “the road to the future of NEV”.

The ICC China also translated the important report “Leveraging Technology for Fair, Effective, and Efficient International Arbitration Proceedings” into Chinese and released the Chinese version during the event. The report clearly identifies the most commonly used technologies to support current international arbitration practices and makes valuable suggestions on how future technologies can be utilized in international arbitration.

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