China seeks to boost intl arbitration system

The Chinese mainland is seeking to collaborate with partners from outside the region to improve its arbitration system for resolving international business disputes, said a top official of the Supreme People's Court on Tuesday.

"An arbitration system is more cost-effective and flexible than lawsuits in commercial disputes among the mainland, Hong Kong, Macao, and Taiwan," said Xi Xiaoming, vice-president of the Supreme People's Court, at the Fifth Greater China Arbitration Forum Conference on Tuesday.

"The Supreme People's Court has formulated more than 30 regulations and judicial interpretations for cases across the Taiwan Straits and the special administrative zones to facilitate the economic exchange," he said.

In Qianhai, Shenzhen's rising economic zone, policies have been put in place to allow lawyers from Hong Kong, Macao and overseas to act as representatives in arbitration cases.

The Arbitration Institute of the Stockholm Chamber of Commerce has maintained continuous collaboration on arbitration research with Tsinghua University in Beijing, said Johan Gernandt, ex-president of the SCC Arbitration.

"Sweden and China basically share similar commercial legal systems," said Gernandt. "The international commercial disputes in Stockholm between companies from all over the world have in past years been resolved successfully, mostly to the advantage of the Chinese companies when they have been involved."