International Commercial Arbitration for Belt and Road Initiative – Some Thoughts on China, Singapore and Hong Kong SAR as Dispute Resolution Locales

Abstract

The growth of international commercial arbitration can be said to be phenomenal due to the massive increase in international trade and investment volumes, especially in Asia. A further contributing factor can be attributed to the Belt & Road Initiative (BRI), which is widely recognised as a major international economic initiative. Nevertheless, with an increase in commercial activities, disputes can be expected to rise in tandem, whereas arbitration is considered to be the most effective mode of dispute resolution for cross-border commercial conflicts. Presently, Singapore and Hong Kong SAR dominate the international arbitration scene in Asia but rising international commercial arbitration activities and growth in China are set to change the regional international arbitration landscape. The establishment of ‘international arbitration courts’ (国际仲裁院) in China, particularly in Shanghai, Shenzhen and Beijing are significant developments where many of the institutions also adopting international practices thus welcoming to foreign parties to arbitrate there. This article will briefly look at the current arbitration and dispute resolution climate in China, setting the groundwork for international arbitration foundation. The article will also examine possible regional cooperation in terms of arbitration for BRI disputes in the Asian region.