China makes headway in building international commercial arbitration centers
Time:2024-05-07 14:11:02 Source:opinionsViews(143)
In 2023, eight arbitration institutions in the pilot areas for the construction of China's international commercial arbitration centers handled a total of 79,000 cases with a value amount of 600 billion yuan (about 84.56 billion U.S. dollars), according to the Ministry of Justice.
A total of 2,251 foreign-related cases were handled and concluded by these institutions last year, accounting for 72 percent of foreign-related cases handled and concluded across the country, the ministry said at a press conference on Tuesday.
These numbers indicate that phased results have been achieved in the pilot areas, said the ministry.
In 2022, the Commission for Law-based Governance of the Communist Party of China Central Committee issued a document to carry out pilot projects for the construction of international commercial arbitration centers in Beijing, Shanghai, Guangdong and Hainan.
You may also like
- An inquiry into a building fire in South Africa that killed 76 finds city authorities responsible
- Huawei enhances youth digital skills in Kenya through 5G technology
- New study interlinks super dust storm, aerosol radiative feedback
- China's intelligently upgraded highways top 3,500 kilometers
- Overseas businessmen show confidence in Hong Kong's business environment
- Cutter Gauthier, the NCAA's leading scorer, signs 3
- Virtual technology showcased at 2023 CIFTIS
- Over 2,300 people battling forest fire in southwest China
- How Rita Moreno uses honors like an upcoming public television award to further her philanthropy