Shanghai Aims for Greater Role in Global Maritime Dispute Settlement
Miao Qi
DATE:  11 hours ago
/ SOURCE:  Yicai
Shanghai Aims for Greater Role in Global Maritime Dispute Settlement Shanghai Aims for Greater Role in Global Maritime Dispute Settlement

(Yicai) Oct. 22 -- Shanghai is positioning itself as a global center for maritime dispute arbitration, according to senior figures in the city’s legal system.

Shanghai is backing its maritime arbitration bodies as they expand internationally and welcomes their overseas counterparts, thereby building a global maritime arbitration services hub in the city and making sure adjudication decisions are recognized and enforced at home and abroad, Cao Jie, vice president of the Shanghai High People’s Court, said at the North Bund Forum yesterday.

The maritime judicial and arbitration services of the city, a major global shipping hub on China’s east coast, have become more attractive in recent years, with an increasing number of parties involved in international shipping and commercial disputes picking Shanghai as the place to sue or arbitrate, Cao said.

Shanghai is the only city in China that has local and foreign arbitration bodies, business offices, and international representative offices all in one place, Lu Zheng, deputy head of its Justice Bureau, said at the forum.

The city has already set up a complete set of rules for temporary arbitration, Lu noted, adding that multiple cross-border maritime ad-hoc arbitration cases have been decided in the city since last August.

China’s newly revised Arbitration Law, due to take effect next March, formally brings a temporary arbitration system into the country’s legal framework, Lu said. Shanghai plans to improve related services and procedures so international parties will feel confident using ad-hoc arbitration in Shanghai, backed by clearer institutional guarantees and professional support, he added.

The North Bund Forum is a global shipping and aviation industry gathering held annually in Shanghai. This year’s three-day event ended yesterday.

Editors: Tang Shihua, Futura Costaglione

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Keywords:   International Maritime Arbitration,Arbitration Ecosystem,International Maritime Shipping Center,Shanghai,North Bund International Shipping Forum,China Maritime Judicial and Arbitration Summit Forum