SCIA boosts global ventures of Chinese enterprises

BEIJING, Feb. 15, 2025 /PRNewswire/ -- A news report from chinadaily.com.cn:

As the global influence of the Guangdong-Hong Kong-Macao Greater Bay Area in arbitration continues to grow, the Shenzhen Court of International Arbitration, or SCIA, is supporting Chinese business enterprises in their global ventures.

It's also contributing to international trade and economic exchanges, according to industry experts and corporate representatives at a dialogue held on Feb 12 in Shenzhen, South China's Guangdong province.

SCIA council members from Hong Kong, Macao and overseas, along with over 50 representatives from major Chinese companies, discussed global economic trends, challenges and opportunities for Chinese enterprises.

They highlighted the crucial role of international arbitration in resolving disputes in trade, investment, finance and maritime commerce. 

Liu Xiaochun, SCIA president and executive chairman of the South China International Arbitration Center (HK), stressed the importance of leveraging international rules and Hong Kong and Macao's strengths to protect the rights of Chinese enterprises overseas.

"We need to build a stable, transparent, fair and predictable market-oriented, rule-of-law and international business environment," he said. 

Under the framework of "one country, two systems and three legal jurisdictions", the SCIA aligns rules with Hong Kong and Macao to facilitate business in common law and Portuguese-speaking countries.

Liu noted that Hong Kong's resources connected SCIA to common law countries, while Macao's unique legal system strengthened links to Portuguese and Spanish-speaking nations ? providing professional and transparent dispute resolution services for Chinese enterprises. 

Roberto Azevêdo, SCIA council member and former director-general of the World Trade Organization, underscored that international dispute resolutions provided stability to global trade relations. He said that the SCIA played a vital role in ensuring robust mechanisms for resolving international commercial disputes.

Anthony Neoh, SCIA vice-chairman, highlighted the council's international composition ? including experts in China, from Hong Kong and Macao ? which enhanced confidence in its legal and arbitration systems. 

"We are connected with judicial institutions in Shenzhen, Hong Kong and Macao. The courts and arbitration institutions across these three regions are organically integrated, enhancing confidence in our legal and arbitration systems," Neoh added.

To better serve Chinese and foreign clients and meet the demand for risk prevention and dispute resolution in the international operations of enterprises, the SCIA continues to promote its international development.

In 2024, it accepted a record 14,518 commercial arbitration cases, with the total disputed amount reaching 142.27 billion yuan ($19.67 billion) ? maintaining its position among the top three arbitration institutions globally.

The number of newly accepted international commercial arbitration cases rose to 520, a whopping year-on-year increase of 25.6 percent. Meanwhile, the geographic coverage of global clients expanded further, with parties from 64 countries and regions involved, representing a 45 percent year-on-year increase.

To date, the SCIA has served parties from a cumulative 142 countries and regions. Of its 2,087 arbitrators, currently, 733 are from overseas, accounting for 35.12 percent of the total.

SOURCE chinadaily.com.cn