China (Chongqing) Pilot Free Trade Zone Arbitration Center Founded

On the morning of October 27, 2018, China (Chongqing) Pilot Free Trade Zone Arbitration Center Founding Meeting and the First Session of Chongqing Pilot Free Trade Zone Arbitration Forum was held in Chongqing, China

By Yuling Chen, EDITOR

On the morning of October 27, 2018, China (Chongqing) Pilot Free Trade Zone Arbitration Center Founding Meeting, and the First Session of Chongqing Pilot Free Trade Zone Arbitration Forum was held in Chongqing, China.

Liu Guiping, Deputy Mayor of Chongqing Municipality, Wang Kuiwan, Deputy Secretary-General of Chongqing Municipal People’s Government, Zhang Dekuan, Director of Chongqing Justice Bureau, Zhang Zhikui, Director of Chongqing Municipal Commission of Commerce, Chen Bin, Vice President of the Chongqing High People’s Court and other leaders, have attended the meeting.

This event has brought more than 200 guests together. They are from domestic and international arbitration institutions, over 50 enterprises, including Alibaba, in Chongqing FTZ, 50 law offices and the China Chongqing Arbitration Commission.

At this event, the Chongqing Arbitration Commission has signed long-time cooperation agreements with China-ASEAN (Macao) Arbitration Association, the Chongqing Municipal Commission of Commerce, China Council for the Promotion of International Trade Chongqing Committee ,as well as Chongqing Lawyers Association respectively. These agreements have laid solid foundation for the Chongqing Arbitration Center, to provide quality legal services in Chongqing FTZ and for international arbitration cooperation.

The Chongqing Arbitration Commission has signed long-time cooperation agreements with China-ASEAN (Macao) Arbitration Association, the Chongqing Municipal Commission of Commerce, China Council for the Promotion of International Trade Chongqing Committee as well as Chongqing Lawyers Association respectively.

After the founding meeting, Vice Mayor Liu Guiping and Director Zhang Dekuan presented the unveiling ceremony of the arbitration center.

China (Chongqing) Pilot Free Trade Zone Arbitration Center works as a special body, set by the Chongqing Arbitration Commission in the Chongqing FTZ.

The arbitration center provides enterprises in the Chongqing FTZ with arbitration law publicity, training and consulting services. Moreover, it conducts arbitration and mediation in a professional and international way, and resolves business disagreements with the FTZ according to relevant law.

Person in charge of the arbitration center said that its establishment promotes a diversified disagreement resolution mechanism, provides legal guarantee for enterprises in the FTZ and creates a law-based, internationalized and facilitated business environment.

China is a party of Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York, 1958), also referred to as the “New York Convention”. As of now, there are 156 parties, almost covering countries with businesses activities.

Verdicts made by China (Chongqing) Pilot Free Trade Zone Arbitration Center, can be recognized by and executed in aforementioned convention parties.

Chongqing Municipal People’s Government attaches great importance to and supports arbitration development, and the Chongqing Arbitration Commission has been set up in 1996. During the past 22 years, the Commission have deal with more than 50,000 business cases with a total target amount of RMB 70 billion.

Arbitration Rules of the United Nations Commission on International Trade Law is applicable for the Chongqing Arbitration Commission, which sets a case-filing fee at RMB 5,000 and it will not be returned under any circumstance.

Source: ifeng.com