China makes headway in building international commercial arbitration centers
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.
Related articles
Six killed in a 'foiled coup' in Congo, the army says
KINSHASA, Congo (AP) — Six people were killed and dozens arrested following attacks on the residence2024-05-21Robust start of China's economy boosts global economic prospects
Tourists visit the ancient city of Tianshui in Qinzhou District of Tianshui City, northwest China2024-05-21Tourism festival spurs consumption in Shanghai
Cultural and tourism consumption boomed during the three-week Shanghai Tourism Festival, with the ci2024-05-21Nadal says he is not 100% fit ahead of Madrid debut
Rafael Nadal admitted on the eve of his debut in the Madrid Open tennis tournament that he is still2024-05-21'Constantly learning' Imanaga off to impressive start with the Chicago Cubs
CHICAGO (AP) — The road for Shota Imanaga from Japan to the major leagues included at least one shar2024-05-21South China's Boao sees thriving homestay industry
Days before the Boao Forum for Asia (BFA) Annual Conference 2024 commences, Zhong Xian's homesta2024-05-21
atest comment