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Worldwide wisdoms on Building Shanhai the International Arbitration Center
 

A Symposium regarding Construction of International Arbitration Center was held by SHIAC on January 23, 2015. Mr. Wen Wanli, the Vice Chairman and Secretary-General hosted the event. Experts from China, Singapore, Korea, United Kingdom, Austria and Australia participated in the symposium and made insightful suggestions on updating Shanghai to an international arbitration center.

Mr. Michael Hwang, the Chief Justice of Dubai International Financial Center Courts, also the arbitrator of SHIAC, was invited to address a keynote speech on the symposium. Mr. Hwang proposed seven requirements for an international arbitration center, including:good arbitration laws, judges familiar with arbitration system, good arbitration institutions, attorneys highly professional in international arbitration, training for arbitrators, great support from the government, and advantages in location.

Mr. Byung-Chol Yoon, the Secretary-General of Seoul International Dispute Resolution Center, also the arbitrator of SHIAC, shared the experiences of the commercial arbitration in Korea and the prospects of SIDRC combined with the seven requirements. Mr. Mark Beer, the Registrar and CEO of DIFC Courts, introduced in detail the operating matters of DIFC Courts and its achievements on international dispute resolution by virtue of its geographical advantages between Europe-America and Asia-Pacific. The attending experts highly complimented the innovations of SHIAC China (Shanghai) Pilot Free Trade Zone Arbitration Rules, arbitration practices of Free Trade Zone Court of Arbitration, and the establishment of Shanghai International Aviation Court of Arbitration, which manifested that Shanghai was competent to provide modern and professional arbitration service to parties. Experts had discussions in deep and exchanged insightful opinions on issues like increasing international disputes resolution cases (parties are all non-Chinese commercial entities), inviting arbitrators familiar with arbitration procedures in common law system in the Panel, appointing more foreign arbitrators in arbitration practices, providing more convenient services to foreign arbitration practitioners (experts witnesses and arbitration attorneys), and strengthening the capability of identifying foreign laws and applying international common practice.

Mr. Wen conveyed his sincere gratitude to the concern and supports of the experts to SHIAC. In his conclusion, Mr. Wen considered that judicial review opinions of the Supreme People’s Court had indicated its respect to party autonomy in dispute resolution by means of limiting the strict application of public policy, and guaranteeing the enforcements of foreign arbitration awards under the New York Convention, which have been deemed as having demonstrated friendly and open attitude of China’s judicial department to commercial arbitration. Shanghai Municipal Government has already incorporated the plan of building Shanghai the international arbitration center as an important component of the “Four Centers” nation strategy of Shanghai, acknowledging that the promotion to business by a prosperous arbitration business, and injected more positive energy to the development of Shanghai arbitration industry. Mr. Wen specially pointed out that SHIAC should learn matured experience from international arbitration centers like London and Singapore and therefore strengthen the international competence of SHIAC to pr

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