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Deputy Secretary General Li Hu Attended Seminar oní░Role of International Law in Safeguarding Construction of OBORí▒

On June 16, 2017, China Law Society Belt and Road Legal Research Base ? China Law Society WTO Legal Research Association ĘC Belt and Road Specialized Committee unveiling ceremony and í«Role of International Law in Safeguarding Construction of OBORí» Seminar, hosted by the University of International Business and Economics (UIBE), was held in the Law School of UIBE. Vice chairman of China Law Society Zhang Mingqi, Director of China Legal Exchange Center of China Law Society Yin Baohu, Vice Director of Research Department of China Law Society Peng Ling, Vice Chairman of Beijing Lawyers Association Zhang Wei, and Vice Chairman of the Fourth Civil Division of the Supreme Peopleí»s Court Liu Jingdong attended the seminar. The Seminar was chaired by Dean of the UIBE Law School Shi Jingxia. Secretary of the CIETAC Party Committee and Deputy Secretary General of CIETAC Li Hu was invited to attend the Seminar and delivered a speech on The Belt and Road Dispute Settlement.

Li pointed out that China has established legal cooperation with most countries along the Belt and Road. In general, legal risks of countries along the Belt and Road is relatively high overall. Geo-relation becomes an important influence on the legal environment. The economic development gaps of countries, imbalanced development of political economy, and serious polarization of judicial systems and efficiency of judicial enforcement, lead to the increasing legal risks for Chinese enterprisesí» trade and investment in the countries along the Belt and Road. Therefore, for the potential commercial disputes between equal parties, investment disputes between investors and host countries, and trade conflicts and disputes between states, we should firstly prevent legal risks and reduce the incidence of disputes. In practice, for common commercial disputes, we should actively guide parties to choose arbitration as disputes resolution method. With regard to investment dispute and disputes between states, in addition to existing international dispute settlement mechanism, we should explore, research, and build a new, fair and just dispute resolution environment. 

Since its establishment in 1956, CIETAC was committed to provide impartial, independent, and efficient international commercial arbitration service to the parties. In recent years, along with the continuously increasing influence of the Belt and Road Initiative and the further acceleration of the internationalization process of CIETAC, CIETAC gradually deepened cooperation with international arbitration institutions and promoted the healthy development of international commercial arbitration. Until now, CIETAC has already established cooperation agreements with 11 countries along the Belt and Road and carried out practical cooperation. Besides, CIETAC undertook social responsibility and focused on training international arbitrators so that Chinese companies had more choices for Chinese arbitrators in international arbitration. In CIETACí»s Panel of Arbitrators effective on May 1, 2017, the nationalities of foreign arbitrators have increased with 24 more countries compared to the previous version and the number of countries along the Belt and Road increased from 15 to 28, in order to better safeguard Chinese enterprises go global and secure the legal interests of China and foreign countries in the implementation of Belt and Road initiative. Moreover, CIETAC vigorously propels legislative and judicial communications with countries along the Belt and Road, promotes the application and interpretation of New York Convention and builds healthy environment for the recognition and enforcement of arbitral awards.

The participants conducted in-depth communications and discussions on "Role of International Law in Safeguarding Construction of OBOR".