Beijing is intensifying efforts to build an international commercial arbitration center, aiming to provide high-quality dispute resolution services to support the development of new quality productive forces, the city's judicial authority said at a meeting held on Monday.

Hosted by the Beijing Municipal Bureau of Justice, the meeting provided updates on the city's progress in building the arbitration center, discussed further steps, and gathered stakeholders to advance the initiative.

Zhang Guoqiang, vice head of the Beijing Municipal Bureau of Justice, highlighted Beijing's commitment to building a high-standard international commercial arbitration center and developing a unique "Beijing model." Major arbitration institutions in Beijing, such as China International Economic and Trade Arbitration Commission (CIETAC), China Maritime Arbitration Commission (CMAC), and Beijing Arbitration Commission (BAC) have been included in the Supreme Court's pilot batch for the "one-stop" diversified resolution mechanism for international commercial disputes. 

Beijing will strive to integrate arbitration professionals into the "Capital International Legal Talent Development Action Plan" and to cultivate top-tier international arbitration leaders, mid-career professionals, and young talent, Zhang said.

According to the plan for further advancing the international commercial arbitration center, Beijing will adhere to a diverse and integrated development approach, leverage its legal resources to create a comprehensive ecosystem for commercial dispute resolution, support the establishment of renowned foreign arbitration institutions in Beijing, and encourage local institutions to engage globally. 

Moreover, the city will deepen arbitration system reforms, capitalize on its educational and talent resources to create training bases for international legal professionals and develop top-tier arbitration teams. It will also establish a digital arbitration research institute, enhance smart arbitration services, and promote a synergistic development between arbitration and technological innovation.

At the meeting, the Beijing Municipal Bureau of Justice inked strategic cooperation agreements with the Beijing No. 4 Intermediate People's Court, the China Council for the Promotion of International Trade Beijing Sub-council (CCPIT Beijing), CIETAC, CMAC, and BAC. The partnership aims to improve the arbitration development environment, foster the healthy and orderly growth of the arbitration industry, promote international economic and trade exchange, and create a market-oriented, law-based, and internationalized business environment.

The meeting also witnesses the signing of agreements between the Beijing Municipal Bureau of Justice and law schools and research institutes of Renmin University of China, Beijing Institute of Technology, China University of Political Science and Law, and the University of International Business and Economics to enhance cooperation in talent development for arbitration and dispute resolution.

In 2023, CIETAC, CMAC, and BAC handled 18,583 cases worth 279.21 billion yuan (US$38.52 billion), marking a 46.36% increase in case volume and a 24.16% increase in disputed amounts. They concluded 978 foreign-related cases worth 59.29 billion yuan, accounting for over 30% of the national total.

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